According to the global fighter aircraft market report by IMARC Group, the market reached a value of US$ 59.2 Billion in 2022, and it is projected to reach a value of US$ 72.4 Billion by 2028, exhibiting a CAGR of 3.2% during 2023-2028.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What is a the fighter aircraft Market?
Fighter aircraft are generally designed for air-to-air combat to gain control of essential airspace by attacking the enemy and destroying adversary aircraft. They have the firepower, maneuverability, and ground attack capabilities that help in maintaining air superiority over the battlespace in military conflict. They are also used for non-combat purposes such as aerial refueling, airborne early warning and control (AEW&C), search and rescue, training, reconnaissance, observation, and surveillance. Currently, fighter aircraft are highly specialized and equipped with innovations, such as modified engines with an afterburner that generates extra thrust when fuel is ignited in the augmenter.
What are the major market drivers in a fighter aircraft Market?
The global fighter aircraft market is primarily driven by rising defense spending for military modernization. Moreover, fighter aircraft are essential to military strategy for gaining air superiority over enemies in battle. In line with this, the modernization of the fighter aircraft fleet by armed forces to gain an advantage over the enemy’s fighter aircraft, deter adversaries, retain air dominance, and prepare for modern warfare is positively influencing the market growth.
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Additionally, the rising product use in peacetime for airspace surveillance, pilot training, and joint military exercises with friendly nations to improve interoperability and share best practices is another major growth-inducing factor. Furthermore, the use of automation and robotics in the production of fighter aircraft to accelerate output, reduce expenses, enhance accuracy, and increase safety is contributing to the market growth. Other factors, including ongoing research and development (R&D) activities, increasing geopolitical tension between countries, and surging incidences of terrorism, are also anticipated to drive the market further.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Airbus SE, Aviation Industry Corporation of China Ltd., BAE Systems PLC, Dassault Aviation S.A, Hindustan Aeronautics Limited, Korea Aerospace Industries, Leonardo SpA, Lockheed Martin Corporation, Raytheon Technologies Corporation, Saab AB and The Boeing Company.
The report has segmented the market on the basis of landing, type, application and insight .
Breakup by Take-off and Landing:
Breakup by Aircraft Type:
Breakup by Application:
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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Key Questions Answered in the Global fighter aircraft Market Report
• How has the global fighter aircraft industry performed in the past and how will it perform in the near future?
• What is the impact of COVID-19 on the global fighter aircraft market?
• What are the key regions in the global fighter aircraft industry?
• What are the major driving factors and challenges in the global fighter aircraft market?
• What is the structure of the global fighter aircraft industry and who are the leading players?
• What is the degree of competition in the market?
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