Military Transport Aircraft Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.09 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
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 Transport Aircraft Market Analysis
The Military Transport Market is anticipated to grow at a CAGR of over 7.09% during the forecast period.
The COVID-19 pandemic had a negligible effect on the market conditions for military transport. Owing to the high defense investments by various countries, the procurement of new transport vehicles or replacement of existing vehicles was unaffected and in turn, witnessed an increase in demand. Several countries have exponentially used military non-combat vehicles to offer relief aid and supplies across the world to help the countries to combat the COVID-19 pandemic. Furthermore, the multiple military conflicts across the world have necessitated the use of high-capacity transport vehicles like aircraft and naval vessels to transport refugees and immigrants to be airlifted or transported via waterways to safer places. As a result, high-capacity aircraft like the Lockheed C5, Boeing C-17 Globemaster, and the C146A Wolfhound has witnessed a significant increase in demand, leading to a higher market growth potential.
An increase in demand for rapid transportation of troops to deployment areas, the rapid expansion of defense forces, and the increasing number of military personnel will lead to the government of various countries increasing the acquiring of new and advanced military transport aircraft and thus will lead to a growth in the market. The military transport helicopters can be used for airlifting troops, medical evacuation, firefighting, and rescue missions in harsh environments. In addition to this, increasing warfare situations, political unrest, and growing terrorism across the globe will lead to the market witnessing growth during the forecast period.
Military Transport Aircraft Market Trends
Air Transport is Expected to Lead the Market During the Forecast Period
The air transport segment is expected to lead the market over the forecast period. Fixed-wing aircraft are majorly used to perform critical supply flights by delivering arms and ammunition, medicines, and personal protective equipment during combat missions.
Countries across the globe are focusing on improving their aerial support capabilities due to rising tensions and warfare situations among neighboring countries. Several nations are upgrading their existing transport aircraft or replacing their aging fleet with newer-generation aircraft. With the growth in defense spending by several nations around the world, the industry has witnessed several procurements and upgrade activities for military air transport aircraft, in the last few years. Moreover, the ongoing developments in military equipment, and onboard military aircraft, as well as the growth in the need for life extension programs to prolong the life of the military transport aircraft, are bolstering the growth of the segment during the forecast period.
In September 2021, the Indian Ministry of Defense announced that they have signed a contract worth USD 2.5 billion for the acquisition of 56 Airbus C-295 aircraft as a strategic replacement of the Indian Air Force's (IAF's) legacy fleet of Avro HS-748 aircraft. Under the terms of the contract, Airbus will deliver the first 16 aircraft in 'fly-away' condition from its final assembly line in Seville, Spain. The subsequent 40 aircraft will be manufactured and assembled in India by Tata Advanced Systems (TASL), as part of an industrial partnership between Airbus and TASL. The program is expected to be completed by 2025. In addition, in August 2022, the Canadian government allocated up to USD 4 billion to purchase four military transport aircraft from Airbus by 2023. Also, in June 2022, France, Germany, and Sweden agreed to the development of advanced medium-lift transport aircraft.
The increasing global defense expenditure across the world over the years due to various military conflicts arising in various geographies is expected to drive major investments into the military transport aircraft market, thus growing investment from defense forces for the procurement of high-capacity military transport aircraft is expected to drive the market growth and bolster the air transport segment during the forecast period.
North America is Expected to Hold the Largest Market Share During the Forecast Period
The North American region is expected to hold the largest market share during the forecast period. The presence of a robust aviation industry and steadily increasing expenditure toward the procurement of military transport equipment has been the prominent driver of the military transport market in the region. The defense budget of the US in 2022 amounted to USD 777.7 billion. The US also has one of the largest fleets of military transport platforms in service. On this note, the US Air Force has 962 transport aircraft and 568 tankers in its fleet, while the US Army deploys a staggering 303,553 military vehicles in its fleet. There are also several acquisition plans underway to develop and deploy advanced transport platforms to rapidly deploy troops for foreign and domestic missions. For instance, in March 2023, the US Army began fielding its new armored Multi-Purpose Vehicles (AMPVs) to support various combat operations. The AMPVs are designed as potential replacements for the M113 family of armored personnel carriers and these vehicles provide soldiers with better protection and survivability during high-risk missions. Similarly, in February 2023, the US Navy christened its Spearhead-class expeditionary fast transport, the future USNS Cody (EPF 14). The USNS Cody is the first Flight II configuration in its class, bringing enhanced medical capabilities in addition to its high-speed sealift mobility and agility. Several such developments are expected to drive the military transport market in North America during the forecast period.
Military Transport Aircraft Industry Overview
The market of military transport market is consolidated in nature and is characterized by a few original equipment manufacturers (OEMs) who provide solutions for military transportation. Some of the prominent players in the military transport market are The Boeing Company, Lockheed Martin Corporation, Airbus SE, Embraer S.A., and Rheinmetall AG. Increasing investments from OEMs in the development of advanced military transport platforms for improving military transportation will boost market growth. Furthermore, increased procurement from multiple countries across the world will also augment the growth prospects of the market in focus and increase the market penetration opportunities for manufacturers, leading to gaining a competitive advantage over the coming years.
Military Transport Aircraft Market Leaders
Rheinmetall AG
Lockheed Martin Corporation
Airbus SE
The Boeing Company
Embraer S.A.
*Disclaimer: Major Players sorted in no particular order
Military Transport Aircraft Market News
- In October 2022, Indian Defense Ministry announced that a consortium led by Tata Group and Airbus will manufacture 40 C-295 transport aircraft in Gujarat. This new project is aimed at growing the defense industrial complex in the region and benefitting Indian Defense capabilities.
- In May 2022, the Iranian Defense Ministry unveiled a light military transport aircraft, Simorgh. The aircraft was developed in Iran and all the aircraft systems such as components, fuselage, and propulsion systems, were designed and developed the local companies.
Military Transport Aircraft Market Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porters Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Ground Transport Vehicles
5.1.2 Naval Transport Vessels
5.1.3 Air Transport Aircraft
5.2 Application
5.2.1 Personnel Transport
5.2.2 Cargo Transport
5.2.3 Emergency Rescue
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 Latin America
5.3.4.1 Mexico
5.3.4.2 Brazil
5.3.4.3 Rest of Latin America
5.3.5 Middle East & Africa
5.3.5.1 United Arab Emirates
5.3.5.2 Saudi Arabia
5.3.5.3 South Africa
5.3.5.4 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 The Boeing Company
6.2.2 Lockheed Martin Corporation
6.2.3 Airbus SE
6.2.4 Rostec
6.2.5 Rheinmetall AG
6.2.6 Oshkosh Corporation
6.2.7 Leonardo S.p.A.
6.2.8 Kawasaki Heavy Industries, Ltd.
6.2.9 Embraer S.A.
6.2.10 Tata Sons Private Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Military Transport Aircraft Industry Segmentation
Military transport vehicles are crucial for maintaining supply lines to forward bases that are difficult to reach otherwise. These vehicles are specifically designed to military standards and are rugged versions of their commercial counterparts. Military transport vehicles are generally used to carry troops, staff, (mounted) weapons, supplies, evacuate wounded soldiers, and many other diverse roles. Heavily specialized variants of such vehicles and aircraft can also be used for carrying out strategic and tactical missions.
The military transport market is segmented by type, application, and geography. By type, the market is segmented into ground transport vehicles, naval transport vessels, and air transport aircraft. By application, the market is segmented into personnel transport, cargo transport, and emergency rescue. By geography, the market covers the developments in North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report offers market size and forecast in terms of value (USD Billion) for all the above segments.
| Type | |
| Ground Transport Vehicles | |
| Naval Transport Vessels | |
| Air Transport Aircraft |
| Application | |
| Personnel Transport | |
| Cargo Transport | |
| Emergency Rescue |
| Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Military Transport Aircraft Market Market Research FAQs
What is the current Military Transport Aircraft Market size?
The Military Transport Aircraft Market is projected to register a CAGR of 7.09% during the forecast period (2024-2029)
Who are the key players in Military Transport Aircraft Market?
Rheinmetall AG, Lockheed Martin Corporation, Airbus SE, The Boeing Company and Embraer S.A. are the major companies operating in the Military Transport Aircraft Market.
Which is the fastest growing region in Military Transport Aircraft Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Military Transport Aircraft Market?
In 2024, the North America accounts for the largest market share in Military Transport Aircraft Market.
What years does this Military Transport Aircraft Market cover?
The report covers the Military Transport Aircraft Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Military Transport Aircraft Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Military Transport Aircraft Industry Report
Statistics for the 2024 Military Transport Aircraft market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Military Transport Aircraft analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
