Market Size of Fighter Aircraft Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 47.34 Billion |
| Market Size (2029) | USD 56.83 Billion |
| CAGR (2024 - 2029) | 3.72 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Fighter Aircraft Market Analysis
The Fighter Aircraft Market size is estimated at USD 47.34 billion in 2024, and is expected to reach USD 56.83 billion by 2029, growing at a CAGR of 3.72% during the forecast period (2024-2029).
- The COVID-19 pandemic negatively impacted the fighter aircraft market, affecting delivery and production. Stringent regulations aimed at reducing the spread of the virus caused delays in the delivery of fighter aircraft to various countries. Furthermore, the pandemic led to layoffs in various companies, hampering the production process. However, with the decline in the pandemic, the market witnessed growth due to the ease in restrictions and increased production and delivery of fighter aircraft worldwide.
- The growing geopolitical tensions between nations have prompted the adoption of advanced fighter aircraft to modernize existing fleets and enhance their aerial defense capabilities. Advancements in technology, such as stealth and precision weapons, are further supporting the development of the fighter aircraft market as nations strive to keep their combat capabilities up-to-date.
- However, budget constraints may hinder market growth, particularly for developing countries that may opt for upgrading existing old fighters to cut costs rather than investing in next-generation fighter jets.
