Military Vertical Take-Off and Landing Aircraft Market to Reach US$ 65.9 Billion by 2028

According to the latest report by IMARC Group, titled "Military Vertical Take-Off and Landing Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The global military vertical take-off and landing aircraft market size reached US$ 41.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 65.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.9% during 2023-2028.

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Military Vertical Take-Off and Landing Aircraft Industry Outlook:

Military vertical take-off and landing (VTOL) aircraft represent a military vehicle that can hover, take off, and land vertically in the same place, unprepared sites, or a small pad without requiring a long runway. It includes tiltrotors, cyclogyro or cyclocopter, helicopters, fixed wing, and other aircraft as standard product variants that are unified with powered rotors. Some of these models are lighter-than-air aircraft and can also be classified under VTOL aircraft, as they have the potential to perform vertical approach and departure profiles. Moreover, compared to conventional aircraft, including short take-off and vertical landing (STOVL) and short take-off and landing (STOL), military VOTL is lightweight, offers efficient turbofans, and can execute better maneuvers. As a result, it is extensively used in various military applications, including rescue operations, essential supplies distribution amongst victims of natural calamities, battle management, and transporting troops safely from a base location or aircraft carriers to the front line.

Global Military Vertical Take-Off and Landing Aircraft Market Trends:

Increasing geopolitical tensions and international border disputes, along with the growing threat of terrorism, are primarily driving the global military VOTL market growth. In line with this, the escalating need for advanced aircraft with next-generation military equipment and weaponized systems for combat operations and damage management applications is acting as another growth-inducing factor.

Moreover, the rising deployment of VTOL unmanned aerial vehicles (UAVs), such as drones, due to their ability to land in difficult and compact areas as a counterterrorism measure to monitor and track terrorism activities in remote areas, is contributing to the market growth. Such military aircraft can further operate from multiple austere bases, front-line combat zones, and natural disaster-vulnerable areas; thus, it is frequently utilized across the military and defense sectors. Additionally, the shifting user inclination towards military VTOL aircraft due to their highly efficient and lightweight turbofans is propelling the market growth.

Furthermore, the launch of hybrid-electric VTOL aircraft with effective aerodynamic forces and reduced operating costs is favoring the market growth. Apart from this, the recent development of fuel-efficient and environment-friendly aircraft, including electric VOLT (eVOLT) with collision avoidance and situational awareness systems, is creating a positive outlook for the market.

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Key Market Segmentation:

Competitive Landscape with Key Player:

• AeroVironment Inc.
• Airbus SE (Airbus Group)
• BAE Systems Plc
• Israel Aerospace Industries Ltd.
• Lockheed Martin Corporation
• Neva Aerospace Ltd.
• Northrop Grumman Corporation
• Saab AB
• Textron Inc.
• The Boeing Company

Breakup by Aircraft Type:

• Rotorcraft
• Powered-Lift

Breakup by Application:

• Combat Operations
• Agriculture and Mining
• Border Management
• Battle Damage Management
• Others

Breakup by End User:

• Military
• Civil and Commercial
• Homeland Security
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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