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Global Fighter Aircrafts Market Comprehensive Study: Forecasted Market Size And Growth Rate
Fighter Aircrafts Market
The Business Research Company offers in-depth market insights through Fighter Aircrafts Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The fighter aircrafts market size has grown strongly in recent years. It will grow from $122.12 billion in 2023 to $132.43 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to national defense, geopolitical tensions, technology advancements, export opportunities.
The fighter aircrafts market size is expected to see strong growth in the next few years. It will grow to $170.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to aircraft lifecycle management, environmental concerns, regional instabilities, strategic partnerships. Major trends in the forecast period include stealth technology, unmanned combat aerial vehicles (ucavs), advanced sensor and avionics systems, supersonic and hypersonic technologies.
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Market Segmentation:
The main types of fighter aircraft are conventional take-off and landing, short take-off and landing, and vertical take-off and landing. Aircraft that can hover, take off, and land vertically are classified as vertical takeoff and landing aircraft. The various systems involved are the airframe, engine, avionics, landing gear system, a weapon system that is used in homeland security and defense, and others.
Major Driver - Global Emphasis On Airborne Security Drives Fighter Aircraft Market Growth
Countries across the globe are striving to enhance their aerial combat capabilities for increased airborne security. The growing emphasis on airborne security is expected to boost the demand for fighter aircraft, thereby propelling the growth of the fighter aircraft market. For instance, in September 2023, according to the Ministry of Defence, an India-based government agency for national security, the Defense Acquisition Council (DAC) approved proposals for the procurement of various weapon systems and platforms. This includes the Dhruvastra short-range air-to-surface missile and 12 Su-30 MKI fighter jets.
Competitive Landscape:
Major companies operating in the fighter aircrafts market include Lockheed Martin Corporation, Airbus SE, The Boeing Company, BAE Systems, Russian Aircraft Corporation MiG, Saab AB, Dassault Aviation SA, PJSC Sukhoi Company, KAI, Hindustan Aeronautics Limited, Alenia Aermacchi, Shenyang Aircraft Corporation, United Aircraft Corporation, Chengdu Aircraft Industrial Group Co. Ltd., Mitsubishi Heavy Industries Ltd., Korea Aerospace Industries, Embraer S.A., Leonardo S.p.A., Eurofighter GmbH, Yakovlev Design Bureau, General Dynamics Corporation, Northrop Grumman Corporation, McDonnell Douglas Corporation, Mikoyan-Gurevich Design Bureau, Safran Aircraft Engines, Rolls-Royce Holdings plc, Pratt & Whitney, Honeywell Aerospace, General Electric Aviation, Aero Vodochody, Kawasaki Heavy Industries, Sukhoi Civil Aircraft Company
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Top Trend - Development Of Automation In Fighter Aircraft Manufacturing
Major players operating in the fighter aircraft industry are focusing on automation in the manufacturing line to reduce manufacturing time and labor costs, which is likely to be a leading trend in the fighter aircraft market. For instance, in April 2021, Korea Aerospace Industries, a South-Korea-based aerospace and defense company, declared that it will spend $88.3 million to create a unique smart manufacturing system, using it initially to produce KF-21 Boramae fighter planes. The fourth industrial revolution's digital technologies, such as artificial intelligence and big data analytics, will be the foundation of the smart manufacturing system. The sole aircraft manufacturer in the country claims that by 2023, it will create a smart manufacturing system and implement it across all of its business locations.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fighter Aircrafts Market Characteristics
3. Fighter Aircrafts Market Trends And Strategies
4. Fighter Aircrafts Market - Macro Economic Scenario
5. Fighter Aircrafts Market Size And Growth
…..
27. Fighter Aircrafts Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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