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Fighter Aircrafts Market Report 2024-2033 | Size, Share, Trends, Growth Demand, Overview
Fighter Aircrafts Market Trends
As per the report, 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 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%.
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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.
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 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
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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
Contents of the report:
1. Executive Summary
2. Fighter Aircrafts Market Report Structure
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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