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Global Military Fixed-wing Aircraft Market to 2031 - Market Size and Drivers, Major Programs, Competitive Landscape and Strategic Insights

April 2021 | 158 pages | ID: G483C2265538EN

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Global Military Fixed-wing Aircraft Market to 2031 - Market Size and Drivers, Major Programs, Competitive Landscape and Strategic Insights


The global military fixed-wing aircraft market is valued at US$95.3 billion in 2021 and will grow at a CAGR of 2.81% to reach a value of US$125.8 billion by 2031. The cumulative market for global military fixed-wing aircraft is estimated at US$1145.6 billion over the forecast period. The Asia-Pacific region is projected to garner a share of 36.6% of the total global military aircraft market during 2021-2031. Countries such as India and China are contributing in significant terms to the growth of the military fixed-wing market in this region. The demand for military aircraft is expected to be driven by the need to replace fleets of aging aircraft, internal and external security threats, regional arms race in the region, and increasing counterterrorism operations undertaken by the armed forces across various countries.

Europe is estimated to account for the second largest share of spending in the sector with a cumulative share of 27.2% over the forecast period. Spending in Europe is driven mainly by collaborative inter country programs such as the FCAS, the Tempest and future 6th gen aircraft. The UK, France and Russia account for a large chunk of spending in the region.

In terms of segments, the multi-role aircraft segment is anticipated to account for the largest share of expenditure globally, with a market share of 68.2% followed by the Transport aircraft segment with a share of 9.8%. Reconnaissance and surveillance aircraft and Bombers are anticipated to account for the third and fourth largest segments of expenditure with shares of 8.6% and 6.8% respectively over the forecast period. The remaining market share of 6.6% is expected to be constituted by the Tanker aircraft and Training aircraft segments. The multi-role aircraft segment is projected to grow at an estimated CAGR of 3.63% during the forecast period. The growth in the segment can be attributed to increasing reliability of air forces across the globe on this aircraft type for air-to-air role and air-to-ground role.

Key Highlights
  • The global military fixed-wing aircraft market is expected to grow at a CAGR of 2.81% over the forecast period.
  • The market consists of six categories: multi-role aircraft, transport aircraft, trainer aircraft, bomber, reconnaissance and surveillance aircraft and tanker aircraft.
  • The global military fixed-wing aircraft market over the forecast period is expected to be led by Asia-Pacific with a share of 38%, followed by Europe and North America with shares of 27% and 25%, respectively. The Middle East, Africa, and Latin America together are anticipated to account for the remaining market share of 11%.
  • Multi-role aircraft is expected to be the largest segment of the military fixed-wing aircraft market over the forecast period.
Who Should Buy
  • Defence Startup's, Original Equipment Manufacturers (OEMs), Defence Planners, Venture Capital Firms, Government Agencies, Head of Marketing, Head of Sales, CEOs and Senior Executives.
  • The concerned stakeholders can utilize the report to identify high growth segments and customize their offerings to match the project requirements.
  • The Venture Capital Firms can utilize the project details, growth rate, and market size to identify and fund high potential startups.

In particular, the report provides an in-depth analysis of the following -
  • Market size and drivers: Detailed analysis during 2021-2031, including highlights of the demand drivers and growth. 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 projects 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 2021-2031.
  • 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.
  • 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 channels that are driving the global 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 Fixed-wing Aircraft providers around the world. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available
Executive Summary
Global Military Fixed-wing Aircraft Market - Overview
Market Dynamics
Global Military Fixed-wing Aircraft Market - Segment Analysis
Global Military Fixed-wing Aircraft Market - Regional Analysis
Global Military Fixed-wing Aircraft Market - Trend Analysis
Key Programs Analysis
Competitive Landscape Analysis

Asia-Pacific Global Military-Fixed Wing Market to be Worth US$42.2bn by 2031 

  • Growing at a CAGR of 1.77%, the fixed-wing market in Asia-Pacific is projected to value US$42.2bn by 2031 compared to US$35.5bn in 2021. 
  • China and India are emerging as significant contributors in the military fixed-wing market owing to the geopolitical tensions, the need to replace the aging aircraft fleets, and to incorporate new technologies.

The Asia-Pacific (APAC) region will lead the global military-fixed wing market between 2021 and 2031 as China, India, Japan, and Taiwan aim for multi-year procurement programs. The fixed-wing market in APAC is currently worth US$35.5bn and is projected to value US$42.2bn by 2031, growing at a compound annual growth rate (CAGR) of 1.77%. Of the different military-fixed wing segments, multi-role aircraft will receive the largest share throughout the forecast period in the APAC region.

 GlobalData’s report, ‘The Global Military Fixed-wing Aircraft Market 2021-2031’, reveals that the military fixed-wing market in APAC will be dominated by China throughout the forecast period, followed by India. China’s fixed-wing aircraft market is estimated to grow from US$10.5bn in 2021 to US$23.1bn by 2031, while India’s market is expected to grow to US$8.8bn in 2031 from US$7.3bn in 2021.

 Fatima Germanwala, Aerospace & Defense Analyst at GlobalData, comments: “China’s investment in the military-fixed wing sector is driven by its ambition for dominance in the APAC region and to keep up with US military advancements. For India, Chinese intrusion along the Line of Actual Control (LAC) throughout 2020-2021 on the western front and border conflicts with Pakistan towards the eastern front has reinforced its focus on a two-front threat, leading to an increased focus towards military preparedness.”

 China is developing J-18 VTOL, the Y-20 transport aircraft and the H-20 bombers to be at par with US military developments. It is also procuring stealth aircraft such as the J-20 Black Eagle and the FC-31 GrayFalcon. Following the US development of F-35 variants for amphibious assault ships and aircraft carriers, China is in dire need of stealth fighter jets for its future aircraft carriers.

 India, on the other hand, is aiming to replace its aging Mig-21, Mig-27, and Jaguars by procuring 4.5 generation aircraft such as the Tejas MK1A and develop further variants of the model. While the Indian Air Force is due to receive all its Rafale fighter jets by 2022, the Indian Ministry of Defence (MoD) will continue to induct aircraft of all segments to counter emerging threats and mitigate against changing strategic challenges.

 Fatima adds: “The development of fifth and sixth generation aircraft, and pertinence of 4+ generation aircraft, are the main drivers for investments in the multi-role aircraft sector along with new developments such as optionally manned aircraft and manned-unmanned teaming. The demand for fixed-wing aircraft in the region is also increasing as Japan, China, and India seek to replace their aging fleets. Technological advancements of the fighter jet, transport aircraft, and refuellers are further incentivizing investments in the region.”

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