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Middle-East and Africa Military Aviation Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028
The Middle-East and Africa Military Aviation Market is projected to register a CAGR of 4.04%. Key Highlights. Largest Market by Sub-Aircraft Type - Fixed-Wing Aircraft : Focus on enhancing combat capabilities by procuring technologically-advanced combat aircraft across most of the countries in the region helps in the market growth.
New York, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle-East and Africa Military Aviation Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381495/?utm_source=GNW
Fastest-growing Market by Sub-Aircraft Type - Fixed-Wing Aircraft : Ongoing geopolitical tensions and conflicts across the world are leading the region to procure advanced multi-role aircraft to enhance its combat superiority.
Largest Market by Body Type - Multi-Role Aircraft : Countries in the region are opting for multi-role aircraft to perform ground strikes, air superiority, and suppress the enemy air defenses.
Largest Market by Country - Qatar : The country’s procurement of various military equipment is directed toward its focus on developing interoperability and combined readiness of its armed forces.
Qatar is the largest segment by Country.
The defense expenditure in the Middle Eastern region was around USD 157 billion in 2021, with a decline of over 8.6% as compared to 2020, whereas in Africa, it was around USD 41 billion in 2021, with an increase of over 6% from 2020.
The countries such as Saudi Arabia (11%), Egypt (5.7%), Qatar (4.6%), UAE (2.8%), and Algeria (2.6%) are the major arms importers globally during 2017-2021 and have active procurement programs for procurement of multirole as well as utility aircraft in both fixed-wing and rotorcraft segment.
The major procurements such as 50 Lockheed Martin F-35 fighter jets by UAE, the procurement of 30 Rafale fighter jets by Egypt worth USD 4.5 billion, and the procurement of 25 modified UH-60M helicopters by Saudi Arabia are some of the major procurements that happened in the region during 2016-2021. The aircraft active fleet will increase in the region as Middle East countries like UAE, Saudi Arabia, Qatar, and Turkey are expected to procure newer aircraft for fleet modernization and expansion during the forecast period.
During 2016-2021, procurement grew around 4% in the Middle East & Africa region. This growth was driven by overt intervention by regional powers and ongoing conflicts such as between Iran, Saudi Arabia, and UAE. The US, France, and Russia are the major supplier nations of multi-role aircraft in this region. Along with this, fleet up-gradation and replacement programs for the aging fleet are expected to aid in the growth of the military aviation market in the region.
Competitive Landscape
The Middle-East and Africa Military Aviation Market is fairly consolidated, with the top five companies occupying 86.36%. The major players in this market are Airbus SE, Lockheed Martin Corporation, The Boeing Company, 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/p06381495/?utm_source=GNW
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