Military Aircraft Market - Growth, Trends, and Forecast (2020 - 2025)

The Military Aircraft Market is segmented by Aircraft Type (Fixed-wing and Rotorcraft) and Geography.

Market Snapshot

Study Period:

2017-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

2.5 %

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Market Overview

The military aircraft market is anticipated to register a CAGR of above 2.5% during the forecast period.

  • The increasing military spending, fuelled by the on-going political conflicts and territorial disputes, have been generating demand for advanced military aircraft to strengthen the military capabilities during the forecast period.
  • The on-going fleet modernization, aircraft life extension plans, and replacement of aging aircraft are driving the growth of the military aircraft market.

 

Scope of the Report

The study of the military aircraft market includes both fixed-wing and rotary-wing aircraft types. The non-combat segment of fixed-wing aircraft is classified into reconnaissance and surveillance aircraft, trainer aircraft, transport aircraft, and other aircraft. The reconnaissance and surveillance aircraft includes the airborne early warning and control (AEW&C) and maritime patrol aircraft. The other aircraft segment includes electronic warfare and electronic intelligence, signals intelligence, and search and rescue aircraft.

Aircraft Type
Fixed-wing
Combat
Fighter Aircraft
Bomber Aircraft
Non-combat
Reconnaissance and Surveillance Aircraft
Trainer Aircraft
Transport Aircraft
Other Non-combat Aircraft
Rotorcraft
Combat
Non-combat
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
United Arab Emirates
Israel
Rest of Middle East & Africa

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Key Market Trends

The Fixed-wing Segment is Expected to Experience the Highest Growth During the Forecast Period

The fixed-wing segment is anticipated to have the highest growth during the forecast period. The increasing fixed-wing aircraft orders followed by the deliveries during the forecast period is expected to be the major driving factor for this segment's growth during the forecast period. The development of more advanced and stealthier fixed-wing aircraft may attract a lot of countries to procure the aircraft to increase their aerial capabilities. For instance, Lockheed Martin's F-35 Lightning II is one of the latest stealth multirole fighters developed by Lockheed Martin that has entered service in 2016. 91 F-35s were delivered in 2018, an increase of 38% compared to the deliveries made in 2017. The deliveries were scheduled to increase by another 40% in 2019. Currently, buyers of the aircraft are planning to procure close to a total of 3000 F-35 and field them till 2037-2047. Such rigorous procurements of fixed-wing aircraft have been propelling the growth of the segment during the forecast period.

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The Asia-Pacific Region is Expected to Experience the Highest Growth During the Forecast Period

The Asia-Pacific region is anticipated to have the highest growth during the forecast period. The rapid increase in military spending of the Asia-Pacific countries is the major driving factor for its growth. Japan previously planned to acquire 42 F-35A models. However, in December 2018, Japan announced its plans to procure approximately 150 F-35 stealth fighter jets from the United States, as part of Japan's new defense plan. Additionally, the countries have been collaborating to develop advanced aircraft to enhance their air combat capabilities jointly. For instance, Korean Aerospace Industries and Indonesian Aerospace are currently developing KAI KF-X (IA IF-X) fighter aircraft project to replace the Republic of Korea Air Force's aging F-4 and F-5 fighters. The development of new aircraft is expected to help the growth of the market in this region during the forecast period.

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Competitive Landscape

The military aircraft market is highly fragmented due to the presence of many players who offer several types of aircraft. Lockheed Martin Corporation, The Boeing Company, BAE Systems plc, Rostec, Airbus SE, and Northrop Grumman Corporation are some of the prominent players in the military aircraft market. The companies' increased investments in the development of new and advanced aircraft have been helping them maintain market position. For instance, HAL is developing a fifth-generation fighter aircraft under the Advanced Medium Combat Aircraft (AMCA) program, and Northrop Grumman has been developing B-21 Raider with unique design and structure. The development of such new aircraft may generate demand from the armed forces across the world. Moreover, collaborations, mergers, and acquisitions among the OEMs are expected to make the market consolidated over the forecast period.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Aircraft Type

      1. 5.1.1 Fixed-wing

        1. 5.1.1.1 Combat

          1. 5.1.1.1.1 Fighter Aircraft

          2. 5.1.1.1.2 Bomber Aircraft

        2. 5.1.1.2 Non-combat

          1. 5.1.1.2.1 Reconnaissance and Surveillance Aircraft

          2. 5.1.1.2.2 Trainer Aircraft

          3. 5.1.1.2.3 Transport Aircraft

          4. 5.1.1.2.4 Other Non-combat Aircraft

      2. 5.1.2 Rotorcraft

        1. 5.1.2.1 Combat

        2. 5.1.2.2 Non-combat

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

      2. 5.2.2 Europe

        1. 5.2.2.1 United Kingdom

        2. 5.2.2.2 Germany

        3. 5.2.2.3 France

        4. 5.2.2.4 Russia

        5. 5.2.2.5 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 India

        3. 5.2.3.3 Japan

        4. 5.2.3.4 South Korea

        5. 5.2.3.5 Rest of Asia-Pacific

      4. 5.2.4 Latin America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Mexico

        3. 5.2.4.3 Rest of Latin America

      5. 5.2.5 Middle East & Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 United Arab Emirates

        3. 5.2.5.3 Israel

        4. 5.2.5.4 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    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 Northrop Grumman Corporation

      4. 6.2.4 Saab AB

      5. 6.2.5 BAE Systems PLC

      6. 6.2.6 Rostec

      7. 6.2.7 AVIC

      8. 6.2.8 Korea Aerospace Industries

      9. 6.2.9 Mitsubishi Heavy Industries Ltd

      10. 6.2.10 Leonardo SpA

      11. 6.2.11 Textron Inc.

      12. 6.2.12 Airbus SE

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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