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Global Military Training Aircraft Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028
The Global Military Training Aircraft Market is projected to register a CAGR of 15.46%. Key Highlights. Largest Market by Region - Middle East and Africa : Major countries in the region such as Saudi Arabia and Qatar are planning to meet their increasing need to meet the training requirements of their future pilots.
New York, Jan. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Military Training Aircraft Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381501/?utm_source=GNW
Largest Market by Country - Turkey : The country’s plan to develop indigenous training aircraft in order to meet their training requirements is anticipated to drive the market growth.
Military Training Aircraft Market Trends
Middle East and Africa is the largest segment by Region.
Military training aircraft accounted for around 22% 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, India and China, and other nations in Asia-Pacific. The armed conflicts and internal security increased global defense expenditures, with nations strengthening their armed forces with new procurements of training aircraft.
The world defense expenditure crossed over USD 2 trillion in 2021, with major military powers such as the United States surging their defense budget by 3%, from USD 778 billion in 2020 to over USD 800 billion in 2021. The United States was followed by China, India, Russia, and the United Kingdom, which also increased their defense expenditures by 14%, 5%, 6.8%, and 13% in their respective budgets.
With the growth in demand for cost reduction, future trainer aircraft are expected to incorporate systems that reduce procurement and operational costs. With the growing focus on training fighter pilots in aircraft that perform like a fighter, there is a growing requirement for a supersonic trainer jet. The adoption of such aircraft is expected to increase in the future.
The active fleet of training aircraft surged by around 6% from 2016 to 2021. Asia-Pacific and North America account for 27% and 24% of the total training aircraft active fleet globally.
Military Training Aircraft Market Competitive Analysis
The Global Military Training Aircraft Market is fairly consolidated, with the top five companies occupying 85.11%. The major players in this market are Korea Aerospace Industries, Leonardo S.p.A, Pilatus Aircraft Ltd, Turkish Aerospace Industries and United Aircraft Corporation (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06381501/?utm_source=GNW
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