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Military Transport Aircraft Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Military Transport Aircraft Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the military transport aircraft industry. This report on military transport aircraft market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The military transport aircraft market size has grown rapidly in recent years. It will grow from $32.8 billion in 2023 to $36.23 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to strategic airlift capability, humanitarian missions, tactical mobility, troop and cargo transport, aerial refueling.
The military transport aircraft market size is expected to see strong growth in the next few years. It will grow to $51.8 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to autonomous cargo handling, sustainability initiatives, medical evacuations, paratroop drops, joint operations. Major trends in the forecast period include electrification and hybrid propulsion, advanced avionics, modularity and payload flexibility, stealth and reduced radar signature, international collaborations and partnerships.
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Key Market Players:
Airbus SE, Textron Aviation Inc., Rostec Corp., Lockheed Martin Corporation, Embraer SA, Boeing Company, Northrop Grumman Corporation, Leonardo S.p.A., Ukrainian Aircraft Corporation, Ilyushin Aviation Complex, Alenia Aermacchi SpA, Kawasaki Heavy Industries Ltd., EADS CASA, Shaanxi Aircraft Corporation, United Aircraft Corporation, Hindustan Aeronautics Limited, Bombardier Inc., Antonov Corporation, China Aviation Industry Corporation, Israel Aerospace Industries Ltd., Chengdu Aircraft Corporation, Aircraft Industries Ltd., CNIM Air Space, Boeing Defense Space & Security, Taqnia Aeronautics, Collins Aerospace, Hellenic Aerospace Industry SA, Korea Aerospace Industries SA, Pakistan Aeronautical Complex, ST Engineering Aerospace
Market Drivers:
According to the Military Transport Aircraft Market Report 2024 by The Business Research Company, the key factors driving the growth of the military transport aircraft market, includes the rise in demand for rotorcraft airplanes is expected to propel the growth of the military transport aircraft market in the forecast period. With increasing tension between various global nations, countries strive to enhance their aerial combat and support capabilities during war or enemy attacks. Such countries plan to upgrade their military rotorcraft airplane fleet with highly functional and advanced aircraft to increase their military dominance. For instance, in September 2021, the Indian Ministry of Defense announced the procurement of fifty-six C-295MW transport aircraft from M/s Airbus Defense and Space S.A., Spain, for the Indian Air Force. This C-295MW aircraft is a transport aircraft with a 5-10 tons capacity that has contemporary technology, which will replace the aging Avro aircraft of IAF. Therefore, the rise in demand for rotorcraft airplanes is driving the growth of the military transport aircraft market.
More information about the Global Military Transport Aircraft Market Report -
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Market segments for military transport aircraft include:
1) By Aircraft Type: Fixed Wings, Rotorcraft
2) By Payload: Below 50 Tons, 51 Tons To 100 Tons, 101 Tons And Above
3) By Application: Transportation, Emergency Services, Combat Operation, Command And Control, Surveillance, Intelligence And Reconnaissance
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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