The Global Military Aviation Turbofan Engines market has been on a strong growth trajectory propelled by an unprecedented resurgence witnessed in defense spending over the recent years driven by the rapid evolution of geopolitical dynamics & equations with a major shake-up & whittling down of the traditional, rule-based world order with a militarily ascending China and a resurgent Russia. The Global Defense spending has been on a major upswing; registering a 2.6% year on year increase to reach $1.98 trillion for 2020 despite a 4.4% decline in world GDP; led by the return to great power competition amongst leading geopolitical powers spearheaded by the R&D-led technological evolution.
The realignment of U.S. defense spending focus on competing with near peer adversaries and maintaining its traditional overmatch over adversaries has accelerated the pace of replacement of ageing equipment marked by the award of several new defense contract awards over the recent years which remain a key focus area for the industry given their strategic nature, scale as well as scope & long term horizon. The rapid development of the B-21 Raider LRSB program apart from the contract awards for the T-7 Red Hawk Trainer and the MQ-25 Stingray UAS programs are prime examples & hallmark of this defense renaissance with many upcoming defense programs still in the offing, especially, the big ticket JMR-FVL program geared towards development of next generation rotorcrafts for the U.S. defense forces.
Defense spending has been on a sustained growth trajectory in the EU as well, over the recent years, with steady increases witnessed in defense budgets across France, Germany and the U.K. auguring well for the joint Franco-German defense programs going forward with the European Aerospace & Defense industry witnessing a growing trend towards pursuit of joint defense development programs. The developmental efforts on the sixth generation combat aircraft programs in Europe have been led by the Dassault-Airbus team on the Franco-German joint FCAS program apart from the U.K. which has been actively pursuing the ambitious, Tempest fighter aircraft program. The U.S. efforts on the 6th gen fighter have so far been led by the NGAD program.
The outbreak of COVID-19 pandemic globally in early 2020 has had an unprecedented impact on the world economy, which contracted by 4.4%, thereby putting tremendous pressure on government finances across most parts of the world with the same also likely to impact defense spending across traditional markets over medium term while defense budgets across nations in the Asia-Pacific region are projected to retain their original, pre-COVID growth trajectories. Further, strategic & long term programs are unlikely to be impacted by the economic pressures across most parts of the world going forward.
Against this backdrop, the report provides a comprehensive Comparative SWOT framework analysis & Near Term Business Outlook on the Top 4 Industry OEMs in the Global Military Aviation Turbofan Engines market. The report analyzes as to how the key industry OEMs are positioned, based on their Strengths & Weaknesses, and are gearing up for the highly dynamic & rapidly evolving market landscape with reference to near-term Challenges, emerging Opportunities and potential Threats. The report also provides an analysis of key trends, issues & challenges likely to shape the industry’s future, outlining potential growth opportunities & projecting market outlook as well as demand growth projections for the near to medium term horizon.
For Whom: Key Decision-Makers across Industry Value Chain
- Key Decision-Makers
- Program & Procurement Managers, Defense Departments & Executives
- Top Management of Industry Players & Other Companies
- Industry OEMs & Technology/Other Solutions Providers
- Suppliers, Vendors and other Key Players in the Industry Value Chain
- Associated Equipment Manufacturers & Technology Solutions Providers
- Existing & Potential Investors
- Industry & Company Analysts
- M&A Advisory Firms
- Strategy & Management Consulting Firms
- Researchers and all those associated with Military Aviation and/or the Aerospace & Defense industry
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- Detailed Analysis on OEMs
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