Press Release

Military Aircraft Market 2019-2024 by Size, Growth, Vendors, Trends, Challenges, Drivers, and Technology Leadership

Military Aircraft

This “Military Aircraft Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Military Aircraft market can use for expanding their business in untapped market to increase their customer base.

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Market Overview:

  • The military aircraft market is anticipated to register a CAGR of above 2.5% during the forecast period.
  • - The increasing military spending, fuelled by the on-going political conflicts and territorial disputes, is generating demand for advanced military aircraft to strengthen the military capabilities during the forecast period.
  • - The on-going fleet modernization, aircraft life extension plans, and replacement of aging aircraft are driving the growth of the military aircraft market.<
  • Military Aircraft Market Covers Manufacturers:

  • Lockheed Martin Corporation
  • The Boeing Company
  • Northrop Grumman Corporation
  • Saab AB
  • BAE Systems PLC
  • Rostec
  • AVIC
  • Korea Aerospace Industries
  • Mitsubishi Heavy Industries Ltd
  • Leonardo SpA
  • Textron Inc.
  • Airbus SE
  • Scope of the Report:

  • The study of military aircraft market includes both fixed-wing and rotary-wing aircraft types. The non-combat segment of fixed-wing aircraft is classified into reconnaissance and surveillance aircraft, trainer aircraft, transport aircraft, and other aircraft. The reconnaissance and surveillance aircraft includes the airborne early warning and control (AEW&C) and maritime patrol aircraft. The other aircraft segment includes electronic warfare and electronic intelligence, signals intelligence, and search and rescue aircraft.
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    Key Market Trends:

    The Fixed-wing Segment is Expected to Experience the Highest Growth During the Forecast Period

    The fixed-wing segment is anticipated to have the highest growth during the forecast period. The increasing fixed-wing aircraft orders followed by the deliveries during the forecast period is expected to be the major driving factor for the growth of this segment during the forecast period. The development of more advanced and stealthier fixed-wing aircraft may attract a lot of countries to procure the aircraft to increase their aerial capabilities. For instance, Lockheed Martin's F-35 Lightning II is one of the latest stealth multirole fighter developed by Lockheed Martin that has entered service in 2016. 91 F-35s were delivered in 2018, an increase of 38% compared to the deliveries made in 2017. The deliveries are scheduled to increase by another 40% in 2019. Currently, buyers of the aircraft are planning to procure close to a total of 3000 F-35 and field them till 2037-2047. Such rigorous procurements of fixed-wing aircraft are propelling the growth of the segment during the forecast period.

    The Asia-Pacific Region is Expected to Experience the Highest Growth During the Forecast Period

    The Asia-Pacific region is anticipated to have the highest growth during the forecast period. The rapid growth in military spending of the Asia-Pacific countries is the major driving factor for its growth. Japan previously planned to acquire 42 F-35A models. However, in December 2018, Japan announced its plans to procure approximately 150 F-35 stealth fighter jets from the United States, as part of Japan’s new defense plan. Additionally, the countries are collaborating to develop advanced aircraft to jointly enhance their air combat capabilities. For instance, Korean Aerospace Industries and Indonesian Aerospace together are currently developing KAI KF-X (IA IF-X) fighter aircraft project to replace the Republic of Korea Air Force's aging F-4 and F-5 fighters. The development of new aircraft is expected to help the growth of the market in this region during the forecast period.

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    Target Audience of Military Aircraft Market:

    • Manufacturer / Potential Investors
    • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
    • Association and government bodies.

    Key Reasons to Military Aircraft Market Report:

    • Analyzing various perspectives of the Military Aircraft market with the help of Porter’s five forces analysis
    • The End User that is expected to dominate the Military Aircraft market is analyzed in detail
    • The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Military Aircraft market.
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • Regional analysis of Military Aircraft market studied, during the forecast period
    • The segments that are expected to dominate the Military Aircraft market studied.

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