The Global Military Fixed-Wing Aircraft Market 2019-2029
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 -
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