Press release
Global Fighter Aircrafts Market Projected to Surpass $137.75 Billion by 2029 with 6.8% Annual Growth
Fighter Aircrafts Market Size
The value of the fighter aircraft market has significantly increased in the past few years. The market, which will rise from $97.52 billion in 2024, is forecasted to reach $105.71 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. The factors contributing to growth in the historical timeframe include national defense efforts, escalating geopolitical conflicts, developments in technology, and export opportunities.
In the upcoming years, the fighter aircrafts market is predicted to experience robust growth, reaching a value of $137.75 billion in 2029 with a compound annual growth rate (CAGR) of 6.8%. The growth during the forecast period can be associated with factors like aircraft lifecycle management, environmental issues, regional unrest, and strategic alliances. Key trends for the projected period include stealth technology, unmanned combat aerial vehicles (ucavs), superior sensor and avionics systems, and supersonic and hypersonic technologies.
What Is Contributing to the Growth of the Fighter Aircrafts Market?
Nations worldwide are making efforts to improve their air battle abilities for elevated air safety. This heightened focus on air security is predicted to increase the need for combat planes, thus driving the expansion of the fighter aircraft market. For example, in September 2023, as reported by the Ministry of Defence, an India-based governmental organization for national safety, the Defense Acquisition Council (DAC) gave the green light for plans to purchase a range of weapon systems and platforms. This encompasses the Dhruvastra short-range air-to-surface missile and a dozen Su-30 MKI fighter aircraft.
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Which Key Market Leaders Are Driving Fighter Aircrafts Industry Growth?
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
What Are the Emerging Trends in the Fighter Aircrafts Industry?
Leading corporations within the fighter aircraft market are emphasizing strategic investments to amplify their technological prowess, advance their warfare systems, and upgrade the overall effectiveness of their aircraft. The goal of these investments is to incorporate stealth technology, artificial intelligence, and unmanned systems to adapt to shifting defense needs and sustain a competitive advantage in the worldwide market. For example, in April 2024, the United States Air Force, a US-based military service, disclosed that it spends $6.6 million annually for operation and maintenance of the average F-35A fighter jet. These advances highlight the continual difficulties in controlling the expenses and operational readiness associated with the F-35 program.
What Are the Main Segments in the Fighter Aircrafts Market?
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
Subsegments:
1) By Conventional Take-Off And Landing (CTOL): Single-Engine Fighter Aircraft, Twin-Engine Fighter Aircraft, Multi-Role Fighter Aircraft, Carrier-Based Fighter Aircraft
2) By Short Take-Off And Landing (STOL): Light Fighter Aircraft, Close Support Fighter Aircraft, Tactical Fighter Aircraft
3) By Vertical Take-Off And Landing (VTOL): V Or STOL Fighter Aircraft, Tilt-Rotor Fighter Aircraft, Naval Fighter Aircraft (Harrier-Style Aircraft)
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Which Geographic Area Leads the Fighter Aircrafts Market?
Asia-Pacific was the largest region in the fighter aircraft market in 2023. Western Europe is expected to be the fastest-growing region in the fighter aircrafts market during the forecast period. The regions covered in the fighter aircrafts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Is Covered In The Fighter Aircrafts Global Market Report?
- Market Size Analysis: Analyze the Fighter Aircrafts Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Fighter Aircrafts Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Fighter Aircrafts Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Fighter Aircrafts Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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