Special Mission Aircraft market set to grow to $28.3bn by 2029
Friday 28 June 2019, Amsterdam
The key player has launched a new Electronics report Special Mission Aircraft Market Report 2019-2029.
This report evaluates the current levels of expenditure invested in the global Special Missions Aircraft market. In the next decade, the global Special Missions Aircraft market will register strong growth. The key player forecasts that between 2019 and 2029, the emerging global Special Missions Aircraft market will grow at a CAGR of 8.5% from $ 12.5bn in 2019 to $28.3bn by 2029 due to a new emphasis within the Asian and European markets on special mission fleets, as well as the rising popularity of COTS special mission solutions, especially for ISR.
The boom in flying as the primary form of transportation of military capabilities in both peace and wartime will secure spending as an ongoing percentage of the military budget, increasing need for MPA and ASW fleets as conflicts around seas become more prominent e.g. South China Sea, Asia-Pacific, Indian Ocean, Mediterranean, and all the major OEMs have SM programs, involving either custom-built or modified versions of their standard platforms are few of the driving forces attributed to the growth of special mission aircraft market.
Leading companies featured in the report who are developing Special Mission Aircraft include Airbus, Boeing, Leonardo SpA, The Raytheon Company, Saab, L-3 Technologies Inc., Northrop Grumman Corporation, QinetiQ Group Plc, Lockheed Martin Corporation and others