|Dec 2011||223||Strategic Defense Intelligence||ASDR-24221|
This report offers detailed analysis of the military aircraft market over the next ten years, and provides extensive market size forecasts by country and sub sector. It covers the key technological and market trends in the military aircraft market. It further lays out an analysis of the factors influencing the demand for military aircraft, and the challenges faced by industry participants.
In particular, it provides an in-depth analysis of the following:
The global military aircraft market is expected to increase at a CAGR of 6.58% during the forecast period.
In 2011, the global military aircraft market valued US$38 billion and is expected to value US$71.9 billion by 2021, representing a CAGR of 6.58% during the forecast period. The demand for military aircraft is anticipated to be driven by internal as well external security threats, territorial disputes and modernization initiatives undertaken by armed forces across the world. Cumulatively, the global market for military aircraft is expected to value US$612.9 billion during the forecast period. The global military aircraft market is expected to be dominated by the US during the period, followed closely by the European and Asia-Pacific region. Despite the economic crisis in Europe, Europe’s share of the global market is projected to increase during the forecast period due to the need to replace ageing military aircraft, an arms race among countries and the border disputes among various nations.
In terms of categories, the multi-role aircraft is expected to account for the highest proportion of spending in the global military aircraft market, followed by transport aircraft and reconnaissance and surveillance aircraft. The demand for multi-role aircraft is anticipated to be higher than other categories, which reflects an increase in the number of programs being developed by various countries around the globe. Following the budget cuts announced by various countries as a result of the global economic recession, the procurement of multi-role aircraft has increased significantly due to their ability to carry out various missions including attack, reconnaissance, rescue operations and transport.
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