Market Share of Utility Aircraft Industry
The utility aircraft market is fragmented, with many players accounting for a small market share and competing based on product offerings and pricing strategies. Some of the prominent market players include Bombardier Inc., Leonardo S.p.A., The Boeing Company, Airbus SE., and Textron Inc.
The players in the market are expanding their customer base and entering the market to gain market share. These companies are investing heavily in the research and development of advanced products and technologies that may be used in present and upcoming aircraft. Tire manufacturing companies and aircraft OEMs generally favor long-term contracts. For instance, in June 2022, the US government and Sikorsky, a Lockheed Martin company, signed a five-year contract for 120 H-60M Black Hawk helicopters, with options to reach a total of 255 aircraft to be delivered to the US Army and Foreign Military Sales (FMS) customers. The contract value for expected deliveries is approximately USD 2.3 billion, with a potential value of up to USD 4.4 billion. It will include options for additional aircraft to be fully exercised. The deliveries are scheduled to begin in July and continue through 2027.
Utility Aircraft Market Leaders
Bombardier Inc.
Leonardo S.p.A.
Textron Inc.
Airbus SE
The Boeing Company
*Disclaimer: Major Players sorted in no particular order
