The Global Military Fixed-wing Aircraft Market is projected to register a CAGR of 6.53%. Key Highlights. Largest Market by Body Type - Multi-Role Aircraft : Their air superiority, ability to suppress enemy air defenses and perform air strikes, and use in electronic warfare missions are driving the procurement of advanced multi-role aircraft.
New York, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Military Fixed-wing Aircraft Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381320/?utm_source=GNW
Largest Market by Region - North America : Various ongoing military modernization programs aimed at procuring advanced aircraft across the region are anticipated to drive the market’s growth.
Largest Market by Country - United States : The United States is focusing on procuring more advanced fighter jets to maintain its military supremacy, thus supporting the growth of the military fixed-wing aircraft market.
Key Market Trends
Multi-Role Aircraft is the largest segment by Body Type.
The multi-role aircraft segment accounts for a major share in terms of revenue and volume as all the regions are investing heavily in the modernization of their aging military fixed-wing aircraft fleet and procuring next-generation aircraft.
The training and transport aircraft segments may also show healthy growth between 2022 and 2028, as the countries are looking to procure newer generation aircraft to replace some of the old aircraft models that have been operational for over several decades.
The others segment includes special mission platforms that serve as “force multipliers” and constitute a respectable segment in the military aviation market. Business jets or regional transport aircraft are being converted for special missions due to lower acquisition and operating costs. North America is expected to majorly drive the growth of this segment.
Some of the major ongoing and future procurements of military fixed-wing aircraft include Germany’s procurement of the F-35 from Lockheed Martin, which is likely to be delivered in 2026. The company also anticipates further orders for the aircraft in Europe, with Greece and the Czech Republic showing strong interest in the technologically advanced F-35.
In December 2021, the United Arab Emirates made a deal with Dassault Aviation to purchase 80 Rafale F4 fighter jets for the UAE Air Force and Air Defence (UAE AF & AD). In May 2021, Egypt signed a contract with France to purchase 30 Rafale fighter jets in a deal valued at USD 4.5 billion.
North America is the largest segment by Region.
The fixed-wing aircraft accounted for around accounted for 60% of the global military aircraft fleet in 2021. The international security horizon in the second half of 2021 was marked by escalating conflicts and geopolitical and border issues, with major confrontations such as between Russia and Ukraine and India and China, and other nations in Asia-Pacific. The armed conflicts and internal security aided in a surge of defense expenditures globally, with nations strengthening their armed forces with new procurements of fixed-wing aircraft.
The world defense expenditure crossed over USD 2 trillion in 2021, with major military powers such as the United States increased their defense budget by 3%, from USD 778 billion in 2020 to over USD 800 billion in 2021. Because of which, the North America region is expected to be the largest across the world. The United States was followed by China, India, Russia, and the United Kingdom, which also increased their defense expenditure by 14%, 5%, 6.8%, and 13%, respectively.
In 2022, the war between Russia and Ukraine further fueled the need to reassess the operational readiness of the armed forces globally. NATO nations are undergoing fleet modernization and expansion programs with the procurement of new fixed-wing aircraft.
The active fleet of fixed-wing aircraft surged by around 1% from 2016 to 2021. Asia-Pacific and the Middle East are the major regions with a growth of 7% and 5%, respectively, in their active fixed-wing aircraft fleet. With the expansion of aircraft fleet, the global fixed-wing aircraft market is expected to increase during 2022-2028.
The Global Military Fixed-wing Aircraft Market is fairly consolidated, with the top five companies occupying 81.11%. The major players in this market are Airbus SE, Aviation Industry Corporation of China, Ltd, Dassault Aviation, Lockheed Martin Corporation and The Boeing Company (sorted alphabetically).
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