Market Trends of Aircraft Weapons Industry
The Rotorcraft Segment Is Expected To Witness Significant Growth During The Forecast Period
- By aircraft type, the rotorcraft segment is expected to witness significant growth during the forecast period. In the current scenario, various helicopters are being upgraded with new and advanced weapon systems in order to reap significant benefits. In the present scenario, many countries are dedicated to developing attack helicopters that possess a wide range of armaments.
- For instance, in October 2022, the Indian Air Force inducted the first batch of indigenously-developed Light Combat Helicopters (LCH) in an effort to boost their combat prowess as the multi-role platform is capable of firing a range of missiles and other weapons. The Light Combat Helicopter, designed by Hindustan Aeronautics Ltd (HAL), has been primarily designed for deployment in high-altitude regions.
- The LCH is equipped with requisite agility, maneuverability, extended range, high altitude performance, and all-weather combat capability to perform a range of roles, including combat search and rescue (CSAR), destruction of enemy air defense (DEAD), and counterinsurgency (CI) operations. The helicopter can also be deployed in high-altitude bunker-busting operations, counter-insurgency operations in the jungles and urban environments, and for supporting ground forces.
- Moreover, in September 2021, Russia tested a new electronic attack system onboard the Mi-28N attack helicopter, which has an artificial intelligence capability to analyze the target automatically without the help of a manual operator. The pilot needs to pick a target from those suggested by the system by pressing a button on the LCD display while the system performs the rest of the operations.
- Thus, various countries upgrading their helicopters with new and advanced weapon systems coupled with countries developing attack helicopters that possess a wide range of armaments will have a positive outlook in the market in the near future and will lead to rotorcrafts witnessing significant growth in aircraft weapons market during the forecast period.
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The Asia Pacific Region Is Expected To Witness Significant Growth During The Forecast Period
- The region of Asia Pacific is expected to witness significant growth during the forecast period. The increasing military spending by various countries in the Asia Pacific region, such as China, India, Japan, and Indonesia, owing to various territorial issues and political confits across the land and sea borders, will be the major reason for the growth of aircraft weapons in the Asia Pacific region.
- With the growing military spending, countries are procuring new fighter jets and attack helicopters to strengthen their air capabilities, subsequently generating demand for the regional aircraft weapons market. China and India are indigenous manufacturers and procure fighter aircraft from Western countries.
- Currently, their fleet consists of 1,232 and 538 fighter aircraft, respectively. With fleet modernization plans in place, countries are procuring new aircraft. India has plans to induct 123 Tejas Mark IA aircraft in the coming years. The government has already placed an order for 83 aircraft for the Indian Air Force (IAF). Similarly, Taiwan is in plans to procure fighter aircraft from the United States. Such robust procurement plans of the countries in the region are anticipated to drive the growth of the market during the forecast period.
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