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Military Aircraft Market | 2019 Industry Analysis By Size, Growth, Developments, Share, Trends, Covid-19 Impact on Business, Emerging Technologies, Regional, And Global Forecast To 2026
Military Aircraft Market
COVID-19 Impact on Military Aircraft Industry:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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List of Top Manufacturers in Military Aircraft Market Research Report Includes;
• Airbus S.A.S. (Netherlands)
• The Boeing Company (the U.S.)
• Dassault Aviation SA (France)
• Lockheed Martin Corporation (the U.S.)
• Saab AB (Sweden)
• Embraer S.A. (Brazil)
• GE Aviation (the U.S.)
• Hindustan Aeronautics Limited (India)
• Bell Textron Inc. (the U.S.)
• Sukhoi Corporation (Russia)
• Korea Aerospace Industries (KAI) (S. Korea)
• Chengdu Aircraft Industry Group (CAIG) (China)
Highlights of the Report:
• Detailed analysis of growth stimulators and demand drivers.
• Snapshot of the modernization and expansion models of various regions worldwide.
• Industry challenges and the latest developments in the technology of military aircraft.
• In-depth information about the key programs in each segment.
• Overview of reputed companies and their strategic initiatives to intensify competition.
Market Drivers:
Replacement of Old Aircraft with Innovative Ones to Propel Growth
The technical challenges mainly associated with propulsion, structures, and other similar systems are resulting in a surge in the demand for the replacement and up-gradation of conventional aircraft with the innovative 4th and 5th generation aircraft. The old fleet of aircraft often requires additional capabilities to fulfil the latest mission requirements, as well as reduce the rising number of threats. It is set to drive this market growth in the coming years. However, the increasing demand for unmanned aerial vehicles (UAVs) may hinder market growth.
Segmentation:
Combat Aircraft Segment to Grow Rapidly Backed by Development Projects
In terms of application, the market is divided into reconnaissance and surveillance, tanker, training, search & rescue, maritime patrol, multirole transport, multirole aircraft, and combat aircraft. Out of these, the combat aircraft segment held 33% military aircraft market share in 2018. This growth is attributable to their increasing number of deliveries across the globe, as well as the value associated with them. In addition to that, development projects, namely, F/A-18 programme and F-35 programme would also contribute to the growth of this segment. The export of Gripen E/F, Rafale, and Typhoon are also set to aid growth.
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Regional Analysis:
Rising Defence Budgets to Favor Growth in Europe
Based on the region, the market is segregated into Asia Pacific, Europe, North America, and the rest of the world. Amongst these, North America has anticipated to leads the market throughout the forthcoming period. Regionally, North America earned the dominant military aircraft market share with a revenue of $16.29 billion earned in 2018. The U.S. is set to be the major contributor to growth as it would be responsible for approximately 50% of the global demand for both unmanned and manned military aircraft. Europe is expected to grow considerably owing to its surge in the defense budgets. Lastly, Asia Pacific is projected to grow at a fast pace stoked by the modernization of armed forces, especially in the developing nations, such as India.
Competitive Landscape:
Key Companies Aim to Bag Contracts for Strengthening their Positions
The market includes several industry giants that are presently engaging in research and development (R&D) activities to introduce new products in the market. They are trying to launch affordable military aircraft to cater to the needs of their consumers. Also, they are focusing on bagging contracts from government agencies to gain a competitive edge.
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