NEW YORK, October 31, 2022 /PRNewswire/ — The global military aircraft market the size should increase by $22.77 billion from 2021 to 2026, according to Technavio. However, the growth momentum of the market will slow down at a CAGR of 4.3% during the forecast period. The global military aircraft market is highly competitive with vendors competing on the basis of cost, product quality, reliability, and after-sales service.
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The main military aircraft companies and their offers
Airbus SE, Aviation Industry Corp. of China Ltd., BAE Systems Plc, Dassault Aviation Group, Elbit Systems Ltd., Embraer SA, Hindustan Aeronautics Ltd., KOREA AEROSPACE INDUSTRIES LTD., Leonardo Spa, Lockheed Martin Corp., Mitsubishi Heavy Industries Ltd., Northrop Grumman Corp. , Pilatus Aircraft Ltd., Piper Aircraft Inc., Raytheon Technologies Corp., Rostec, Saab AB, Textron Inc., The Boeing Co., United Aircraft Corp. among others are the major players in the market. The top offerings from some of these providers are listed below:
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Airbus SE – The company offers military aircraft such as the A400M, A330 MRTT and C295.
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Aviation Industry Corp. of China Ltd. – The company offers high-performance and versatile fighter aircraft such as FC-1, FC-20 and F-8T.
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BAE Systems Plc – The company offers military aircraft named F-35 Lightning II.
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Hindustan Aeronautics Ltd – The company offers military aircraft such as LCA, SU-30 MKI and IJT.
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Lockheed Martin Corp. – The company offers military aircraft such as the F-16 Fighting Falcon and the F-35 Lightning II.
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Key Market Drivers
The integration of new technologies in aircraft is one of the major drivers for the growth of the military aircraft market. The development of next-generation products is increasing the demand for aircraft modernization. Technavio expects the emergence of capable production platforms to significantly influence the Heavy Maintenance Visit (HMV) value chain. Advanced Aircraft Condition Monitoring Systems (ACMS) monitor the operation of various onboard systems. The use of ACMS in aircraft is constantly increasing due to their wide range of applications, such as calculating fuel consumption performance and controlling on-board equipment and systems. As new technologies continue to enter this landscape, demand for their incorporation into aircraft is increasing among customers. This increases the growth of the market and will continue to do so during the forecast period.
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Military Aircraft Market Type Outlook (Revenue, USD Billion, 2021-2026)
Military Aircraft Market Geography Outlook (Revenue, USD Billion, 2021-2026)
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APAC – size and forecast 2021-2026
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North America – size and forecast 2021-2026
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Europe – size and forecast 2021-2026
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Middle East and Africa – size and forecast 2021-2026
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South America – size and forecast 2021-2026
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Revenue-generating type segment
The fixed-wing will be the major contributor to the market growth over the forecast period. In 2021, rotorcraft accounted for the majority of the global military aircraft market, and it is expected to grow at a significant rate during the forecast period. These types of aircraft are used for short range purposes, such as transport, rescue, and travel. Increase in the purchase of helicopters is expected to increase the demand for rotorcraft, thereby driving the growth of the market segment.
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Scope of the military aircraft market |
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Report cover |
Details |
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Page number |
120 |
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Year of reference |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum and CAGR |
Slow to a CAGR of 4.3% |
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Market Growth 2022-2026 |
$22.77 billion |
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Market structure |
Fragmented |
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Annual growth (%) |
5.1 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa and South America |
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Successful market contribution |
APAC at 35% |
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Main consumer countries |
United States, Russia, China, India and South Korea |
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Competitive landscape |
Leading companies, competitive strategies, scope of consumer engagement |
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Profiled companies |
Airbus SE, Aviation Industry Corp. of China Ltd., BAE Systems Plc, Dassault Aviation Group, Elbit Systems Ltd., Embraer SA, Hindustan Aeronautics Ltd., KOREA AEROSPACE INDUSTRIES LTD., Leonardo Spa, Lockheed Martin Corp., Mitsubishi Heavy Industries Ltd., Northrop Grumman Corp. , Pilatus Aircraft Ltd., Piper Aircraft Inc., Raytheon Technologies Corp., Rostec, Saab AB, Textron Inc., The Boeing Co. and United Aircraft Corp. |
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Market dynamics |
Parent market analysis, market growth drivers and barriers, analysis of fast and slow growing segments, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period. |
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Personalization area |
If our report does not include the data you are looking for, you can contact our analysts and customize the segments. |
Contents:
1. Summary
2 Market landscape
3 Market sizing
4 Five forces analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic landscape
8 drivers, challenges and trends
9 Supplier Landscape
10 Vendor Analysis
11 Appendix
About Technavio
Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.
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