IMARC Group has recently released a new research study “Fighter Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of fighter aircraft market?
The global fighter aircraft market size reached US$ 59.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 72.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What is a the fighter aircraft Market?
Fighter aircraft are generally designed for air-to-air combat to gain control of essential airspace by attacking the enemy and destroying adversary aircraft. They have the firepower, maneuverability, and ground attack capabilities that help in maintaining air superiority over the battlespace in military conflict. They are also used for non-combat purposes such as aerial refueling, airborne early warning and control (AEW&C), search and rescue, training, reconnaissance, observation, and surveillance. Currently, fighter aircraft are highly specialized and equipped with innovations, such as modified engines with an afterburner that generates extra thrust when fuel is ignited in the augmenter.
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What are the major market drivers in a fighter aircraft Market?
The global fighter aircraft market is primarily driven by rising defense spending for military modernization. Moreover, fighter aircraft are essential to military strategy for gaining air superiority over enemies in battle. In line with this, the modernization of the fighter aircraft fleet by armed forces to gain an advantage over the enemy’s fighter aircraft, deter adversaries, retain air dominance, and prepare for modern warfare is positively influencing the market growth.
Additionally, the rising product use in peacetime for airspace surveillance, pilot training, and joint military exercises with friendly nations to improve interoperability and share best practices is another major growth-inducing factor. Furthermore, the use of automation and robotics in the production of fighter aircraft to accelerate output, reduce expenses, enhance accuracy, and increase safety is contributing to the market growth. Other factors, including ongoing research and development (R&D) activities, increasing geopolitical tension between countries, and surging incidences of terrorism, are also anticipated to drive the market further.
Who Are The Major Key Players in Fighter Aircraft Market?
Airbus SE, Aviation Industry Corporation of China Ltd., BAE Systems PLC, Dassault Aviation S.A, Hindustan Aeronautics Limited, Korea Aerospace Industries, Leonardo SpA, Lockheed Martin Corporation, Raytheon Technologies Corporation, Saab AB and The Boeing Company.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Take-off and Landing:
- Conventional Take-off and Landing
- Short Take-off and Landing
- Vertical Take-off and Landing
Breakup by Aircraft Type:
- Fixed-Wing
- Rotorcraft
Breakup by Application:
- Homeland Security
- Defense
- Others
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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