Market Size of Military Multirole Aircraft Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 3.50 % |
| 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?
Military Multirole Aircraft Market Analysis
The multirole aircraft market is expected to exhibit a growth rate of more than 3.5% during the forecast period 2020-2025.
- Owing to the rise in the global conflict between nations and increased attacks on civilians, defense forces around the world are seeking aircraft that costs low on maintenance and are capable of performing functions, such as interception, elimination of hostile aircraft, and transportation. This reason is propelling the market growth for multirole aircraft.
- Demand for multirole aircraft with high aerial combat capabilities is propelling the growth of the market. Developing economies that cannot afford the high procurement and life cycle cost of air superiority aircraft are opting for multirole combat aircraft. For instance, India is producing its domestically developed multirole fighter aircraft HAL Tejas and recently acquired Dassault Rafale multirole fighter from France in 2019. Pakistan and China are jointly producing JF 17 multirole combat aircraft, which is being used by Pakistan, Nigeria, and Myanmar.
