Strategic bombers are predominantly flown to penetrate hostile territories and drop a large amount of air-to-ground weaponry for debilitating combat capabilities of the enemy forces. While strategic bombers are specifically designed to destroy strategic targets, like logistic facilities, infrastructures, and defense installation facilities, tactical fighters and attack aircraft are used for air interdiction operations that target enemy combatants and military platforms. Owing to the changing nature of warfare, the roles and responsibilities of strategic bombers are also getting transformed. Defense organizations are strategizing on deploying long-range strike platforms that are more capable in the era of dominating maneuver warfare.
Technavio’s analysts forecast the global strategic bomber market to grow at a CAGR of 3.78% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global strategic bomber market for 2016-2020. To calculate the market size, the report considers the evenue generated in the overall market from the procurement of new aircraft, funding for sustainment, and modernization of existing strategic bombers.
The market is divided into the following segments based on geography:
Technavio's report, Global Strategic Bomber Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Xi'an Aircraft Industry
Utilization of strategic bombers in maritime military drills/patrols
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
Technavio Announces the Publication of its Research Report – Global Strategic Bomber Market 2016-2020
Technavio recognizes the following companies as the key players in the global strategic bomber market: Boeing, Northrop Grumman, Tupolev, and Xi'an Aircraft Industry.
Commenting on the report, an analyst from Technavio’s team said: “Modernization of aging bombing fleets will be a key trend for market growth. Amid a budget sequestration environment, development and procurement of strategic bombers fleets is a challenging prospect, as they require a multitude of considerations apart from the complexity arising from changing spending patterns of global defense organizations. Therefore, major countries such as the US and Russia have initiated numerous sustainment and modernization programs for their aging bombing fleets rather than going for new product development.”
According to the report, one of the key drivers for market growth will be utilization of strategic bombers in maritime military drills/patrols. The strategic bombers are extensively used in maritime military exercises. For instance, three B-52 Stratofortress bombers of the Air Force Global Strike Command (AFGSC) of the US took part in the joint NATO Baltic military drills conducted at the military airport in Gloucestershire, UK, in June 2016. Along with the US, 15 other NATO member countries like the UK, Finland, and Sweden also took part in the military drills.
Further, the report states that the increasing adoption of air superiority fighter and multirole combat aircraft in many countries remains as one of the major challenges that strategic bombers are facing currently. Owing to the high procurement cost and greater maintenance overheads of strategic bombers, the acceptance of the former two variants of aircraft has gained popularity in the last decade. Also, due to technological advancements, the integration of advanced avionics and stealth technologies has become feasible in an air superiority fighter aircraft.