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Global Military Transport Aircraft Market Analysis & Trends - Industry Forecast to 2028

Global Military Transport Aircraft Market Analysis & Trends - Industry Forecast to 2028

  • July 2021
  • 182 pages
  • ID: 6127600
  • Format: PDF
  • Accuray Research LLP

Summary

Table of Contents

Military Transport Aircraft: Market Size

From $16.07 billion in 2020, the global Military Transport Aircraft market is projected to reach $28.03 billion by 2028. Based on our analysis the market is expected to grow at a CAGR of 7.2% from 2020 - 2028 timeframe. Some of the prominent trends that the market is witnessing include increasing arms races among economies, the growth of innovative supersonic aircraft, and the rising need of replacing aging fleets.

Global Military Transport Aircraft Market: Market Dynamics

Military transport aircrafts are typically fixed wing and rotary wing aircraft that are used to carry weapons, troops, and other military equipment to any area of military operations across the world.


Some military transport aircraft perform multi-role duties, such as aerial refueling, as well as rescue missions, and operational, tactical, and strategic airlifts onto unprepared runways.

As the tensions between several global nations are rising, countries are striving to enhance their aerial combat and support capabilities. Various nations are upgrading their existing transport aircraft or replacing their aging fleet with newer-generation aircraft. With the increase in defense expenditure by numerous nations around the globe, the industry has observed several procurements and upgrade activities for transport aircraft, in the last few years.

On the other hand, adoption of unmanned aerial vehicles is likely to obstruct the profit boundaries. In addition, growing demand for aerial refueling and need for replacing old fleet will further boost the military transport aircraft market.

Impact of COVID-19 on Military Transport Aircraft

COVID-19 pandemic has forced governments around the world to refrain from mobilizing military personnel to avoid the spread of disease, hence slowing down military movement and condensed usage of military aircraft. The delay in order processing and procurement owing to supply chain restrictions caused by the COVID-19 has put a hold on all ongoing military aircraft avionics projects. Governments are switching all economic resources to combat the COVID-19 scenario, at the same time military organizations are left with enormous budgetary constraints impacting ongoing aircraft avionics up-gradation. The lockdown and social distancing forced by authorities to contain the COVID-19 will negatively impact military aircraft avionics system training of the personnel. The military has been called to aid in the COVID-19 disaster by respective countries, consequently diverting all focus on civilian aid, rendering combat aircraft avionics impractical in the short term.

By Class

Rotorcraft Segment Dominate the Market in 2020

The rotorcraft segment made huge revenue in 2020 and growing its prominence during the forecast period as it is utilized to perform a variety of tasks ranging from cargo resupply, firefighting, airlifting troops, and medical evacuation. Many countries are planning to advance their military transport rotorcraft fleet, while some fleet innovation programs are already underway.

By Geography

Asia Pacific Region is Leading in the Global Market Place

The Asia Pacific is likely to have a huge demand in the forecast period. China and India play a major role in generating military transport aircraft in the region. India also plans to replace a few aging transport aircraft with new C-295 aircraft. China is also increasing its special mission versions of Y-9 aircraft. Similarly, Japan also has 17 V-22 Osprey aircraft on orders, which are predictable to be delivered during the forecast period.

List of the Key Players Profiled in the Market Include:

• Aviation Industry Corporation of China (AVIC)
• Leonardo SpA
• Rostec
• Lockheed Martin Corporation
• Embraer SA
• The Boeing Company
• Textron Aviation
• Airbus SE
• United Aircraft Corporation
• Kawasaki Heavy Industries
• Ukroboronprom
• Mitsubishi Heavy Industries

List of the Regions/Countries Profiled in the Market Include:

North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others

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