IMARC Group's report titled "Fighter Aircraft Market Report by Take-off and Landing (Conventional Take-off and Landing, Short Take-off and Landing, Vertical Take-off and Landing), Aircraft Type (Fixed-Wing, Rotorcraft), Application (Homeland Security, Defense, and Others), and Region 2024-2032". offers a comprehensive analysis of the industry, which comprises insights on the
global fighter aircraft market forecast. The global fighter aircraft market size reached US$ 61.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 78.9 Billion by 2032, exhibiting a growth rate (CAGR) of 2.8% during 2024-2032.
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Factors Affecting the Growth of the Fighter Aircraft Industry:
Modernization Programs:
Many countries are operating aging fleets of fighter aircraft that are becoming obsolete or expensive to maintain. Modernization programs provide an opportunity to replace these older aircraft with newer, more advanced models that offer enhanced capabilities, reliability, and maintainability. Moreover, modernization programs aim to upgrade existing aircraft with the latest technology, including advanced avionics, sensor suites, radar systems, weapons systems, and stealth capabilities. These enhancements improve the overall combat effectiveness of the aircraft, enabling them to maintain air superiority and perform a wide range of missions.
Technological Advancements:
Innovations in stealth technology, including shaping, materials, and coatings, enable fighter aircraft to evade detection by radar systems, enhancing their survivability and lethality in contested environments. Key players are investing in research and development (R&D) activities to improve stealth characteristics, driving the demand for next-generation stealth fighters. Furthermore, progress in avionics systems, such as integrated sensor suites, multi-functional displays, helmet-mounted displays, and advanced flight control systems, enhances situational awareness, mission effectiveness, and pilot safety. Fighter aircraft equipped with cutting-edge avionics are in high demand due to their superior operational capabilities.
Geopolitical Tensions:
Heightened geopolitical tensions often lead countries to bolster their military capabilities to deter potential adversaries and defend their interests. The acquisition and modernization of fighter aircraft are integral components of defense preparedness, as they provide countries with the ability to project power, secure airspace, and respond to potential threats. In addition, geopolitical tensions often coincide with regional conflicts, security crises, and instability in various parts of the world. Countries facing security threats or involved in regional disputes may prioritize the procurement of fighter aircraft to address immediate security challenges and assert their military capabilities in the face of perceived threats.
Leading Companies Operating in the Global Fighter Aircraft Industry:
Airbus SE
Aviation Industry Corporation of China Ltd.
BAE Systems PLC
Dassault Aviation S.A
Hindustan Aeronautics Limited
Korea Aerospace Industries
Leonardo SpA
Lockheed Martin Corporation
Raytheon Technologies Corporation
Saab AB
acThe Boeing Company
Fighter Aircraft Market Report Segmentation:
By Take-off and Landing:
Conventional Take-off and Landing
Short Take-off and Landing
Vertical Take-off and Landing
Conventional take-off and landing represent the largest segment due to their versatility and operational flexibility.
By Aircraft Type:
Fixed-Wing
Rotorcraft
Fixed-wing accounts for the majority of the market share as it offers greater speed and maneuverability compared to other types of aircraft, making them ideal for aerial combat scenarios.
By Application:
Homeland Security
Defense
Others
Based on the application, the market has been divided into homeland security, defense, and others.
Regional Insights:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
North America enjoys the leading position in the fighter aircraft market on account of military prowess and strategic alliances.
Global Fighter Aircraft Market Trends:
Integration of unmanned systems, such as unmanned combat aerial vehicles (UCAVs) and autonomous drones, into fighter aircraft operations, expands mission capabilities, increases operational flexibility, and reduces pilot risk. Technological advancements in unmanned systems are driving the demand for fighter aircraft capable of operating in conjunction with these platforms.
Additionally, advancements in network-centric warfare technologies enable fighter aircraft to operate as part of integrated, networked systems, sharing real-time information and collaborating with other platforms to achieve mission objectives more effectively. Fighter aircraft equipped with network-centric capabilities are sought after for their ability to contribute to joint and coalition operations.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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