Research Nester published a report titled “Fighter Aircraft Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the fighter aircraft in terms of market segmentation by aircraft type, take-off & landing, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
A fighter aircraft is a high-speed military aircraft designed primarily for one to one air combat, dog fight, and stealth mode against other aircraft. The fighter aircraft market is segmented by aircraft type into fixed-wing and rotorcraft, out of which the fixed-wing segment is anticipated to have the largest market share owing to the increasing fixed-wing aircraft orders and their deliveries, along with the development of more advanced and stealthier fixed-wing aircraft.
The fighter aircraft market is estimated to record a notable CAGR over the forecast period i.e. 2020-2028. Growing technical advancements observed in the fighter aircrafts, especially in stealth mode, hypersonic speed, and armory precision, coupled with the growing demand for fighter aircrafts, backed by the increase in production of fighter aircrafts in the next decade as compared to the previous decade, and the increasing need amongst the nations to enhance their aerial combat capabilities are some of the factors anticipated to drive the growth of the global fighter aircraft market. According to the statistics by the Aircraft Electronics Association (AEA), total annual sales of aviation avionics (retrofit and forward fit) increased from USD 2.26 billion in the year 2016 to USD 2.73 billion in the year 2018.
Based on regions, the fighter aircraft market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North-America is estimated to holds the largest shares in the Fighter Aircraft market over the forecast period on account of upgrading the aircraft fleet in the USAF (the United States Air Force) and to deal with increase aircraft fleet in Russian and Chinese Air Force.
Augmentation of Existing Aircraft Fleet
Increasing advancements in the fighter jet technology and the need amongst nations worldwide to upgrade their existing aircraft fleet such as Mig-21, F-194 and others with newer generation such as F-22, Sukhoi Su-35 and others as the modern aircrafts are equipped with several advanced features such as technology advancement in stealth mode, hypersonic speed, and armory precision are some of the factors estimated to drive the growth of the global fighter aircraft market.
However, upgrading to unmanned aerial vehicles and budget constraints of a few smaller countries which are expected to operate as a key restraint to the growth of the fighter aircraft market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the fighter aircraft market which includes company profiling of Lockheed Martin Corporation (NYSE: LMT), Airbus SE (EPA: AIR), The Boeing Company (NYSE: BA), Dassault Aviation (EPA: AM), Raytheon Company, United Aircraft Corporation (MCX: UNAC), Rolls Royce (LON: RR), Sukhoi, General Dynamics Cooperation (NYSE: GD), Bae System (LON: BA). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the fighter aircraft market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.