The Military Fixed-Wing Aircraft Market is projected to register a CAGR of 2.71% over 2019-2029, growing from US$80.0 billion in 2019 to US$104.4 billion by 2029. The cumulative market during the forecast period is expected to be US$1042.8 billion. The expenditure on military aircraft is expected to be driven by the need to replace ageing aircraft fleets, changing geopolitical landscape creating new rival power blocks, numerous territorial and maritime disputes, need to curtail terrorist groups and similar violent non-state actors, and rapid advances in military avionics.
The Military Fixed-Wing Aircraft Market is projected to register a CAGR of 2.71% over 2019-2029, growing from US$80.0 billion in 2019 to US$104.4 billion by 2029. The expenditure on military aircraft is anticipated to be driven by the ongoing global turmoil, internal and external security threats, fleet replacement programs, modernization strategies, and territorial disputes across the world.
In terms of categories, the multi-role aircraft segment is anticipated to account for the largest share of expenditure globally, with a market share of 67.7% followed by the transport aircraft segment with a share of 13.5%. Reconnaissance and surveillance aircraft and Bombers are anticipated to account for the third and fourth largest segments of expenditure with a share of 8.0% and 5.0% respectively over the forecast period. The remaining market share of 5.7% is expected to be constituted by the tanker aircraft and training aircraft sub-sectors.
The Military Fixed-wing Aircraft market in the Asia Pacific region is estimated to account for 38.1% of the global market. North America and Europe are also anticipated to account for a significant portion of the total Military Fixed-Wing Aircraft market during the forecast period, with shares of 31.4% and 20.7% respectively.
The Middle East, Latin America, and Africa cumulatively account for 9.8% of global Military Fixed-Wing Aircraft expenditure. Latin America is expected to be the fastest growing market for the Military Aircraft sector with a major chunk of expenditure coming from Brazil, Colombia, Argentina, Bolivia, Chile, among others.
The multi-role segment will lead the Military Fixed-wing Aircraft market over the forecast period, with a 67.7% share, followed by the transport segment and the reconnaissance and surveillance aircraft segments, with respective shares of 13.5% and 8.0%. Bombers, tanker aircraft and training aircraft are expected to account for 5.0%, 3.6% and 2.1% of the total military aircraft sector, respectively during 2019-2029.
The report “The Global Military Fixed-Wing Aircraft Market 2019-2029” offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for military aircraft, key market trends, and challenges faced by industry participants. In particular, the report provides an in-depth analysis of the following -
- Market size and drivers: detailed analysis during 2019-2029, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world
- Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of military fixed-wing aircraft segments around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand
- Major programs: details of the key programs in each segment, which are expected to be executed during 2019-2029
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives, and financial analysis
Companies mentioned: BAE Systems, Leonardo, Aviation Industry Corporation of China (AVIC), Lockheed Martin, Saab, Pilatus Aircraft Limited, Hindustan Aeronautics Limited (HAL), Boeing, Northrop Grumman Corporation, Eurofighter, Airbus SE, Dassault Aviation SA.
- The Military Fixed-Wing Aircraft Market, valued at US$80 billion in 2019, is projected to grow at a CAGR of 2.71% over the forecast period, to reach US$104.4 billion by 2029. Realizing the benefits provided by fixed-wing aircraft as force multipliers, various countries are allocating substantial defense budgets to the R&D and procurement of advanced airacrafts.
- Multi-role and Transport aircraft are more in demand by major defense spenders such as the US, Russia, the UK, and China, whereas Reconnaissance and Surveillance aircraft are finding growing markets in developing countries such as India, Brazil, and the UAE.
Reasons To Buy
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- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
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- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top military fixed-wing aircraft providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available