Global Special Mission Aircraft Market
Dublin, July 25, 2022 (GLOBE NEWSWIRE) -- The "Special Mission Aircraft Market by Platform (Military Aviation, Commercial Aviation, UAV), Application (ISR, Command and Control, Combat Support, Air-Launch/Rocket Launch), Payload Type, End-User, Point of Sale and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The special mission aircraft market is projected to grow from USD 15.9 billion in 2022 to USD 19.9 billion by 2027, at a CAGR of 4.6%
Aircraft OEMs and component manufacturers are focusing on innovating equipment and components for special missions due to the increasing demand for technologically advanced aircraft from military as well as commercial applications globally.
Maintaining and funding innovations and managing fluctuations in aircraft build-rates are expected to result in the dynamic growth of the special mission aircraft market in the long term, particularly for the more fragmented parts of the supply chain and highly capital-intensive aero structure segments.
Application segment is estimated to be the largest and fastest growing market
The need for stealthy monitoring during military operations to drive segment demand.
The capability of special mission aircraft to operate quietly and surreptitiously enables them to be used for surveillance, detection, classification, and identification of a maritime target without the target's inhabitants becoming aware of the aircraft's presence. They are used for drug interdiction, locating illegal immigrants, documenting fisheries violations, and detecting the pollution of oceans and rivers.
According to Reuters, during in February 2022, amidst the Russia Ukraine war a remotely piloted U.S. military vehicle called the RQ-4 Global Hawk has flown over the country in circles for hours at a time. The drones' high-altitude, long-distance flights have coincided with a military build-up by Russia along the Ukrainian border and a flurry of diplomacy among leaders of the United States, Europe, and Russia to avert war.
Increasing transport operations in military expected to drive platform segment demand
Special mission aircraft are used for transportation of military supplies and personnel or are deployed for humanitarian relief operations.
These aircraft are used for either strategic or tactical purposes. Other than US, European countries such as France, Germany and Russia are also among the highest investors in military transport aircraft.
In September 2021, The Ministry of Defence (MoD), India on Friday signed an estimated 22,000-crore Indian rupees (USD 2838 million) deal with Airbus Defence and Space S.A., Spain, for 56 C-295MW transport aircraft to replace the Indian Air Force's ageing 56 Avro aircraft that were procured in the 1960s. This is the first project of its kind in which a military aircraft will be manufactured in India under technology transfer by the private sector.
North America likely to emerge as the largest special mission aircraft market
Special mission aircraft are used for various special missions carried out by the military forces such as reconnaissance and surveillance operations.
These aircraft are used for either strategic or tactical purposes. The US military is the highest investor military reconnaissance & surveillance aircraft when compared to European countries such as France, Germany, and Russia.
In November 2019, NATO and Boeing agreed on a USD 1 billion contract to modernize the alliance's fleet of AWACS surveillance aircraft, ensuring they continue to support missions till 2035.
Key Market Players
The special mission aircraft market is dominated by a few globally established players such as The Boeing Company (US), Lockheed Martin (US), Dassault Aviation SA (France), Textron Aviation (US), and Northrop Grumman Corporation (US)among others.
Increasing Usage of UAVs in Military Operations is Expected to Drive the Special Mission Aircraft Market from 2O20 to 2025
Intelligence, Surveillance & Reconnaissance Segment Projected to Lead the Market from 2020 to 2025
China is Estimated to Have the Highest CAGR from 2020 to 2025
Increasing Need for Air-To-Air Refueling to Support Overseas Deployment
Increasing Defense Expenditure of Countries
Incremental Usage of UAVs in Military Operations
Rise in Demand for Emergency Medical Service (Ems) Helicopters
Lengthy Period of Product Certification from Aviation Authorities
Stringent Regulatory Norms for Manufacturing of Special Mission Aircraft Components
Increasing Demand for Air Launched Small Satellites
Advancement in Sensor Technology Driving Demand for Unmanned Aerial Vehicles
Requirement for Continuous and Uninterrupted Power Supply in UAVs
Economic Challenges Faced by OEMs Due to COVID-19
Average Selling Price Trend
Value Chain Analysis
Trade Data Statistics
Case Study Analysis
Autonomous Flight Technology
Artificial Intelligence (Ai)
Big Data Analytics
Internet of Things (IoT)
Multirole Combat Aircraft with Integrated Avionics and Weapons
Ultra-Light Multi-Mode Radar
Butler National Corporation
Dassault Aviation SA
Elbit Systems Ltd
General Atomics Aeronautical Systems, Inc
Gulfstream Aerospace Corporation
Israel Aerospace Industries Ltd
Kratos Defense & Security Solutions, Inc
L Harris Technologies, Inc
Lockheed Martin Corporation
Lufthansa Technik Ag
Northrop Grumman Corporation
Pilatus Aircraft Ltd
Raytheon Technologies Corporation
Ruag International Holding Ag
Textron Aviation Inc
The Boeing Company
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