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Research Delivers Insight into the Global Outlook for Military Vertical Take-off and Landing Aircraft Market
Based on end user, the market is segmented into military, commercial and law enforcement. In 2016, in terms of platform, the commercial segment dominated the market followed by military segment and is anticipated to remain the dominant segment in the near future as well. Faster travel & runway-less platforms and increase in the demand of powered-lift VTOL aircraft are some of the key factor boosting the demand of commercial segment in military vertical take-off and landing aircraft market for the forecast period of 2017 – 2025.
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Based on application, the market is segmented into combat operations, agriculture, mining, oil & gas, border management, battle damage management, search & rescue and others. In 2016, in terms of application, the agriculture segment dominated the market followed by combat operations segment and is anticipated to remain the dominant segment in the near future as well. Growing utilization of powered-lift VTOL aircraft in agriculture is one of the major factor boosting the demand military vertical take-off and landing aircraft in agriculture segment for the forecast period of 2017 – 2025.
One of the major trends boosting the market for the military vertical take-off and landing aircraft is the growth of fully electrical vertical lift aircrafts. The effectiveness of electric systems over combustion systems and growing demand for fuel efficient environment-friendly aircrafts are some of the key factors boosting the demand of military vertical take-off and landing aircraft market for the forecast period of 2017 – 2025.
The geographical split of the market includes North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. In 2016, the North America dominated the market followed by Europe and is anticipated to remain the dominant region in the near future as well. The U.S. is expected to be the key market of the North America region. Increasing demand of powered-lift VTOL aircraft in military applications is one of the major factor boosting the demand of military vertical take-off and landing aircraft market in North America. Increase in the investments from the US defense government towards VTOL aircraft development projects is anticipated to be the major factor driving the market for the military vertical take-off and landing aircraft in the U.S. as well as in North America.
Asia Pacific is expected to grow at the high CAGR for the forecast period of 2017 – 2025. In 2016, China dominated the market for the military vertical take-off and landing aircraft market in Asia Pacific region. India is expected to grow at a high CAGR for the forecast period of 2017 – 2025. Increase in the investment in defense sector by several countries in Asia Pacific such as India and China among others and increase in the demand of aircrafts to ensure border security are some of the main factor fueling the demand of military vertical take-off and landing aircraft market for the forecast period of 2017 – 2025.
Europe is expected to grow at a sluggish rate forecast period. Germany is expected to be the major market for Europe. Increase in in the use of powered-lift VTOL aircraft in various application such as combat operations, agriculture and mining among others is key factor boosting the market in Europe. Middle East and Africa is expected to grow at healthy rate for the forecast period. Saudi Arabia is expected to be the major market in Middle East and Africa.
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The major players in the military vertical take-off and landing aircraft market are Bell Helicopter (United States), Lockheed Martin (United States), Boeing (United States), Aurora Flight Sciences (United States), AeroVironment, Inc. (United States), Airbus Group SE (Netherlands), BAE Systems (United Kingdom), Israel Aerospace Industries (IAI) (Israel), Leonardo Group (Italy) and Textron Inc. (United States) among others.
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