Press release
Fighter Aircrafts Market Future Scope, Analysis, Size, Share, Trends, Growth Rate, Report 2024-2033
Fighter Aircrafts Market
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.
Market Overview -
A fighter aircraft is a fixed-wing aircraft designed for air-to-air combat against other aircraft. The components of the subsystems of fighter aircraft include the fuselage, the wings, the horizontal tail, the vertical tail, and the propulsion system.
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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
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.
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Key Segments -
The fighter aircrafts market covered in this report is segmented -
1) By Type: Conventional Take-Off and Landing, Short Take-Off and Landing, Vertical Take-Off and Landing
2) By System: Airframe, Engine, Avionics, Landing Gear System, Weapon System
3) By Application: Homeland Security, Defense, Others
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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