Dublin, June 30, 2023 (GLOBE NEWSWIRE) -- The "Global Military Fixed Wing Aircraft Markets, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
This report provides the market size forecast and the estimated Compound Annual Growth Rate (CAGR) for the next ten years. The report covers industry analysis including the key market drivers, trends, emerging technologies, and major challenges faced by industry participants. It also offers insights regarding key factors and programs that are expected to influence the demand for military fixed wing aircraft market over the forecast period.
Market Insights
Over the decade, the military fixed wing aircraft market is bound to witness radical change due to increasing demand for fifth-generation Combat Aircraft. Countries have already initiated their modernization drives, with plans laid down to replace aging fleets with latest capabilities for relevance well into 2050s. Mid-cycle upgradations have been focusing on extending the life of the fleet by up to a decade. Countries are also enhancing their indigenous platform development expertise through technology transfer agreements. Aircraft procurement programs are being devised with emphasis on a lower operational cost over the life of the platform and an affordable acquisition cost, while also ensuring incorporation of recent developments in avenues of low observable technology and intelligence collection capabilities.
The combat aircraft segment is expected to be the largest segment accounting for 74.7% of the global military fixed wing aircraft market over the forecast period. The segment is expected to receive robust investment over the forecast period, owing to procurement of next-generation multi-role combat aircraft with advanced sensors, electronic warfare, communication, and weapon systems to improve their ground attack and air defense capabilities. Several countries have already initiated programs to replace their aging 3rd and 4th generation aircraft with 4.5 and 5th generation combat aircraft to maintain combat effectiveness and fleet size. According to Chandan Kumar Nayak, Defense Analyst at the publisher, 'Many countries are focusing on indigenous design and manufacturing, reducing their reliance on foreign suppliers of military weapons. Due to the exorbitant expenses of obtaining foreign aircraft, some emerging nations are also being driven to commence military aircraft production initiatives, which has resulted in the growth of the military fixed wing aircraft market.
North America region is expected to dominate the global military fixed wing aircraft market from 2023 to 2033, with the US accounting for the largest market share. The US's dominance in the military fixed wing aircraft market is influenced by the country's ambitious advanced military programs to ensure air superiority and maintain its global military edge over its adversaries. The US currently has several high-value programs for the procurement of next generation capability aircraft. Some of the major ongoing procurement programs include F-35, F-15EX, and the development of B-21 raider. Apart from combat aircraft the US is also expected to procure several ISR and tanker aircraft to support electronic warfare and expeditionary power projection capabilities.
Key Highlights
- The global military fixed wing aircraft market is expected to grow at a CAGR of 4.4% over the forecast period
- The global military fixed wing aircraft market is classified into five categories: Combat Aircraft, Transport Aircraft, ISR (Intelligence, Surveillance and Reconnaissance) Aircraft, Tanker Aircraft, and Training & Light Attack Aircraft
- North America is expected to dominate the global military fixed wing aircraft market over the forecast period with a market share of 74.7%, followed by Asia-Pacific and European regions
- Combat aircraft is expected to be the largest segment among other military fixed wing aircraft categories over the forecast period
In particular, the report provides an in-depth analysis of the following:
- Market size and drivers: Detailed analysis during 2023-2033, including 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 existing military fixed wing aircraft programs being executed and planned worldwide. 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 2023-2033
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global military fixed wing aircraft market. It provides an overview of key players, their strategic initiatives, and financial analysis
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the global military fixed wing aircraft over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different military fixed wing aircraft segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major factors that are driving the global military fixed wing aircraft market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global military fixed wing aircraft market
- Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top military fixed wing aircraft solution providers around the world. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available
A selection of companies mentioned in this report includes:
- Lockheed Martin
- Boeing
- Saab
- BAE Systems plc
- Northrop Grumman Corp
- Airbus SE
- Embraer
- Dassault Aviation SA
- Leonardo Spa
- Aviation Industry Corporation of China (AVIC)
- Pilatus Aircraft Ltd
- Eurofighter
- Hindustan Aeronautics Limited (HAL)
For more information about this report visit https://www.researchandmarkets.com/r/16lgd8
Source: GlobalData
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