Special Mission Aircraft Market Emerging Trends and Growth Opportunities 2021 at a CAGR of 9.7% and valued at over USD 33.55 billion - 2030

At an estimated value of over USD 13.62 billion in 2019, the Global Special Mission Aircraft Market is predicted to thrive at a CAGR of 9.7% and valued at over USD 33.55 billion over the forecast year 2020-2030.

Special mission aircraft are specifically developed to commence an over-battlefield role by using advanced onboard equipment. Majorly, this class of aircrafts consist of fighter aircrafts, interceptor fighters, and troop transports. These aircrafts are provided with several capabilities to carry out missions such as to release a missile, rocket, or other aircraft payloads.

Access Full Description of this report at:-

https://www.nextmsc.com/report/special-mission-aircraft-market

Competitive Landscape

Lucrative growth opportunities make the Special Mission Aircraft market highly competitive. Some of the major players in the market are Safran SA, FLIR Systems Inc., Lockheed Martin Corporation, L3 Technologies, QinetiQ Group Plc, Leidos Holdings Inc., Leonardo SpA, Viking Air Ltd, Textron Inc., Northrop Grumman Corporation, Saab Group, Raytheon Company, Israel Aerospace Industries Ltd (IAI), Field Aviation, The Boeing Company, Airbus Group, Cirrus Aircraft Corporation, Bombardier Inc., and many more. A number of developmental strategies have been adopted by companies in the past few years. For instance, in May 2020, Northrop Grumman secured a $176.5 million agreement to help the U.S. Army manage fixed-wing electronic warfare aircraft during the lifecycle of fleet. Moreover, in February 2021, Lockheed Martin signed an agreement with Hindustan Aeronautics Limited (HAL) to explore potential industrial collaboration in aerospace sector across the India.

Market Dynamics and Trends

The demand for special mission aircraft is mainly driven by increasing usage of unmanned aerial vehicle (UAVs) in military operations and rising need for air-to-air refueling. Also, rising need for special mission aircraft in commercial and defense applications is one of the major factors fueling the growth of the special mission aircraft market. In addition to this, factors such as growing terrorism activities along with the increased defense budget of the major developing nations such as China and India are expected to drive the special mission aircrafts market. However, factors such as strict regulatory standards to manufacture special mission aircraft components and lengthy period for product certification by aviation authorities are projected to hamper the growth of the market during forecast period. Contradictorily, rise in demand for the air launched small satellites is anticipated to create opportunities to further propel the market growth.

Request sample copy of this report at:-

https://www.nextmsc.com/special-mission-aircraft-market/request-sample

Market Segmentations and Scope of the Study:

The global special mission aircraft market share is segmented on the basis of type and geography. On the basis of type, the market is categorized into Intelligence, Surveillance & Reconnaissance (ISR), Maritime Patrol Aircraft (MPA), Airborne Early Warning & Control (AEW&C), Anti-Surface Warfare & Anti-Submarine Warfare (ASW), Search & Rescue (SAR), and refueling. Geographic fragmentation and analysis of each segment includes regions comprising North America, Europe, Asia Pacific and Rest of the World.

Geographical Analysis

In terms of geography, North America held major share of the market in 2019. This is due to the fact that the U.S. is one of the largest developers, exporters, and operators of special mission aircraft around the globe. For instance, the prominent key players such as the Boeing Company, Textron Inc., Honeywell Aerospace, Inc., Collins Aerospace, and UTC Aerospace Systems are headquartered in the U.S. However, Asia-pacific is expected to experience fastest growth owing to surge in territorial disputes in Eastern Asia and increased defense expenditure by several economies in the region.

Contact:
Phone Number: +1-217-650-7991
E-mail: info@nextmsc.com

About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

For more insights, please visit, https://www.nextmsc.com

This release was published on openPR.