Asia-Pacific Military Aircraft Market - Growth, Trends, Covid-19 Impact, and Forecasts (2022 - 2031)

The Asia-Pacific Military Aircraft Market is segmented by Aircraft Type​ (Fixed-wing, Rotorcraft), and by Geography (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific​). The report offers market size and forecasts for all the above segments in value (USD billion).

Market Snapshot

Asia-Pacific Military Aircraft Market Size
Study Period: 2018-2031
Base Year: 2021
CAGR: >4 %
Asia-Pacific Military Aircraft Market Key players

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The Asia-Pacific Military Aircraft market is expected to grow with a CAGR of over 4% during the forecast period (2022-2031).

The COVID-19 pandemic had a negligible impact on the military aircraft market in the Asia-Pacific. Though the manufacturing industry in the region witnessed supply chain issues in 2020, most of the issues were sorted out by the beginning of 2021. However, there are no major fluctuations on the demand side of the market, as countries continued with their fleet expansion and modernization plans. 

According to the Stockholm International Peace Research Institute (SIPRI), the countries in Asia-Pacific together accounted for USD 586 Billion in defense spending in 2021, representing an increase of 3.5% compared to that of 2020. The growth in the conflicts in the region has forced the countries to increase their defense spending and invest in the development and procurement of sophisticated military aircraft, which is driving the prospects of the market in focus.  

Scope of the Report

The Asia-Pacific military aircraft market is segmented by aircraft type into fixed-wing and rotorcraft. The fixed-wing segment is further segmented into combat and non-combat aircraft. The non-combat subsegment of fixed-wing aircraft segment is further classified into special mission aircraft, trainer aircraft, and transport aircraft. Special mission aircraft include SAR aircraft, airborne early warning and control (AEW&C), electronic warfare, and maritime patrol aircraft. The rotorcraft segment is further classified into combat and non-combat segments. The report also covers the market sizes and forecast for the military aircraft market in major countries in the Asia-Pacific. The market sizing and forecasts have been provided in value (USD billion). The report also provides the fleet composition, aircraft on order, and future procurement plans by major countries in the region.

Aircraft Type
Special Mission Aircraft
Trainer Aircraft
Transport Aircraft
South Korea
Rest of Asia-Pacific

Report scope can be customized per your requirements. Click here.

Key Market Trends

Fixed-wing Segment To Dominate The Market in The Years to Come

Over the past few years, there has been a growing demand for new fixed wing aircraft from the Asia-Pacific region as major countries look to modernize their fleet and increase their fixed-wing aircraft capabilities. The procurement of combat aircraft is expected to be highest in the fixed-wing segment, as several countries look to modernize their aerial combat capabilities. Countries like China, India, Japan, South Korea, and Australia, among others, are focusing on modernizing their fighter aircraft fleet. For instance, to avoid a gap in the aerial combat capabilities, the Indian Air Force is planning to acquire 450 fighter aircraft for deployment on the northern and western frontiers of the country, by 2035. As part of the modernization plans and focus on indigenization efforts of the Indian Air Force, in 2021 IAF has finalized a deal with the state-owned Hindustan Aeronautics Limited (HAL) for 83 LCA Mk 1A. Malaysia is also looking to buy new light combat aircraft and is expected to place an order in 2022. Countries like Australia, Japan, and South Korea are also planning to buy new F-35 aircraft. In addition to the combat aircraft, the countries are also procuring non-combat fixed-wing aircraft in large quantities. In September 2021, the Indian government approved a procurement request for 56 C295 transport aircraft from Airbus Defence and Space in Spain, under which 40 military planes will be manufactured in India by the local firm Tata Group. Likewise, in March 2022,the Government of South Korea approved a budget of about USD 580 million for the acquisition of new military transport aircraft for its Air Force. The aircraft will be delivered by 2026.. Such procurements are expected to drive the growth of the segment during the forecast

Asia-Pacific Military Aircraft Market Trends

China Held the Largest Market Share in 2021

China has been increasing its military aircraft fleet, in line with its plans to strengthen its airborne military capabilities as the country is engaging in several territorial conflicts with its neighboring countries. The country has also strengthened its indigenous military aircraft manufacturing capabilities. While the new twin-seater variant of China's first fifth-generation fighter J-20, was unveiled in 2021, the country's second fifth-generation fighter jet, FC-31, is also expected to enter service during the forecast period. Also, the country is building a new carrier-based fighter jet to replace its J-15 fighters after a series of crashes and mechanical failures. China plans to create at least four aircraft carrier groups to fulfill its navy ambitions. The new aircraft is expected to enter service between 2025 and 2028. On the other hand, the country is also rapidly enhancing its rotorcraft fleet capabilities. The country has been working on developing advanced military helicopters for various branches of its armed forces. In July 2021, China debuted the Z-8L large military transport helicopter. The Z-8L has a wider body than any other domestically developed rotorcraft in the country. It is envisioned to significantly boost the frontline transport and fast-reaction combat capability of the People's Liberation Army (PLA). Furthermore, in March 2022, the Changhe Aircraft Industry (Group) Corporation Ltd and the China Helicopter Research and Development Institute, both subsidiaries of the state-owned Aviation Industry Corporation of China (AVIC), announced that another new helicopter with an innovative design has successfully completed its maiden flight. Such developments are expected to drive the growth of the market in China during the forecast period.

Asia-Pacific Military Aircraft Market Share

Competitive Landscape

Lockheed Martin Corporation, Rostec, Aviation Industry Corporation of China, Ltd., Hindustan Aeronautics Limited, and the Boeing Company are some of the prominent players in the Asia-Pacific Military Aircraft Market. While foreign players dominated the region's military aircraft market for years, local manufacturers are slowly increasing their market share over the years. The governments of several countries in the region, including China, India, Japan, South Korea, and Pakistan among others are focusing on indigenously developing their own military aircraft, which is offering tremendous growth opportunities for the local players. Hence, players in the region are looking to collaborate with foreign players to facilitate better technology transfer and lower development costs. For instance, players from South Korea and Indonesia are collaborating to develop the KF-21 Boramae, a 4.5 generation advanced multirole fighter for the South Korean and Indonesian air forces. Such collaborations are expected to drive the growth of the players in the market during the forecast period. 

Recent Developments

In May 2022, South Korea announced plans to add more FA-50, F-35, and KF-21 fighter jets to shorten the replacement period of its F-4 Phantom and F-5 Tiger II fighters, by three to five years. These plans include increasing production of the domestic FA-50 light fighter and ordering more F-35 and KF-21 fighter jets. 

In March 2022, the Indian cabinet committee on security cleared the purchase of 15 light combat helicopters (LCH) for the Indian air force (IAF) and the army from Hindustan Aeronautics Limited (HAL) at a cost of INR 3,887 crore (USD 500 million).

Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size and Forecasts by Value - USD billion, 2018 - 2031)

    1. 5.1 Aircraft Type

      1. 5.1.1 Fixed-wing

        1. Combat

        2. Non-combat

          1. Special Mission Aircraft

          2. Trainer Aircraft

          3. Transport Aircraft

      2. 5.1.2 Rotorcraft

        1. Combat

        2. Non-combat

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Australia

        6. Rest of Asia-Pacific


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Lockheed Martin Corporation

      2. 6.2.2 The Boeing Company

      3. 6.2.3 Hindustan Aeronautics Limited

      4. 6.2.4 Aviation Industry Corporation of China

      5. 6.2.5 Kawasaki Heavy Industries Ltd

      6. 6.2.6 Rostec

      7. 6.2.7 Leonardo SpA

      8. 6.2.8 Textron Inc.

      9. 6.2.9 Airbus SE

      10. 6.2.10 Dassault Aviation

      11. 6.2.11 Korea Aerospace Industries Ltd


You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Asia-Pacific Military Aircraft Market market is studied from 2018 - 2031.

The Asia-Pacific Military Aircraft Market is growing at a CAGR of >4% over the next 5 years.

Lockheed Martin Corporation, Rostec, The Boeing Company, Hindustan Aeronautics Limited, Aviation Industry Corporation of China, Ltd. are the major companies operating in Asia-Pacific Military Aircraft Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!