Dublin, April 20, 2023 (GLOBE NEWSWIRE) -- The "Special Mission Aircraft Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Application (Intelligence, Surveillance, & Reconnaissance, Command and Control, Combat Support, Others), By End User, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global special mission aircraft market is anticipated to register an impressive CAGR in the forecast period, 2023-2027.
Companies Mentioned
- Northrop Grumman Corporation
- The Boeing Company
- Lockheed Martin Corporation
- Bae Systems
- Dassault Aviation SA
- Textron Aviation Inc.
- Elbit Systems Ltd.
- Israel Aerospace Industries Ltd.
- Bombardier Inc.
- Thales SA
Factors such as increased defense expenditure globally, military modernization programs, and supportive government policies promoting the growth of the defense sector are the primary factors driving the demand for the global special mission aircraft market.
Advancements in air-to-air refueling and sensor technology used in unmanned aerial vehicles are boosting the demand for special mission aircraft. Also, the use of special mission aircraft for transportation applications in the military sector and rose ion the cross-border issues and conflicts are expected to fuel the market growth for the next five years.
Ongoing Military Modernization Programs Propels the Market Demand
In past years, there has been a rise in the tensions across some countries' borders. Countries are continuously working on upgrading their defense by investing in research and development activities and the procurement of advanced weapons, equipment, and technologies.
Several countries like China, India, United States are devising new ways and strategies to modernize their airborne defense systems, which have accelerated the demand for special mission aircraft. They have the ability to stealthy monitor and operate quietly during military operations.
Special mission aircraft can aid in the detection, surveillance, classification, and identification of the targets without making the targets aware of their operation. The leading authorities also use them to locate illegal immigrants, detect pollution in the sea bodies, drug interdiction, and find the fisheries violations in the water bodies.
Also, with the growing terror groups and organizations across the globe, the risk to the nation's security and peace has increased manifold. Concerned authorities are constantly looking for solutions that can help them with the prevention and identification of the targets and provide the insights that can help them make informed decisions. Thus, the modernization of the airborne defense systems and the rise in awareness about the benefits of using special mission aircraft are expected to boost the market growth over the next five years.
Advancements in Sensor Technology Drives the Market Demand
Changing warfare technologies and the increased adoption of modern weapons and equipment by armed forces have accelerated the sales of unmanned aerial vehicles (UAV) across the globe. The rise in the deployment of asymmetric warfare techniques by various armies and the growing territorial conflicts have accelerated the demand for combat unmanned aerial vehicles. These UAVs are used for surveillance, information gathering, and intelligence-gathering information.
They make use of advanced technologies for monitoring, tracking, and hitting targets. Armed forces actively use the weaponized unmanned aerial vehicles to counter-terrorism activities and reduce the risk to military personnel's life. Besides the defense sector, unmanned aerial vehicles are used in agriculture, mining, product delivery, wildlife research and preservation, and the oil & gas industry.
Thus, the massive applications of unmanned aerial vehicles are expected to fuel the global special mission aircraft market growth over the next five years.
Report Scope:
In this report, global special mission aircraft market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Special Mission Aircraft Market, By Application:
- Intelligence, Surveillance, & Reconnaissance
- Command and Control
- Combat Support
- Emergency Services
- Transportation
- Air-Launch/Rocket Launch
- Scientific Research and Geological Surveys
- Others
Special Mission Aircraft Market, By End User:
- Defense
- Commercial & Civil
- Space
For more information about this report visit https://www.researchandmarkets.com/r/sjvmqt
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