Fighter Aircraft Market - Growth, Trends and Forecast (2022 - 2030)
Market Overview
The fighter aircraft market is estimated to grow at a CAGR of over 4% during the forecast period (2019-2024).
- As the countries are striving to enhance their aerial combat capabilities, several nations are upgrading their existing fighter jets or are replacing their aging fleet with newer generation aircraft with advanced features.
- Technology advancements in stealth and precision weapons are further supporting the development of fighter aircraft market, since, every nation want their combat capabilities to be up-to-date.
- However, the development and adoption of unmanned aerial vehicles can act as a restraint for fighter jets.
- Budget constraints can also prevent few smaller countries to opt for next-generation fighter jets which can hinder the market growth during the forecast period.
Scope of the Report
A fighter aircraft can be termed as a high-speed military aircraft which possesses the capability for carrying out air-to-air combat missions. High speed, ease in maneuvering as well as a relatively smaller size are considered to be the hallmarks of the fighter aircraft. These aircraft can also carry heavy payloads and are capable of performing electronic warfare, ground attack, and air-to-air combat. The report also covers the analysis of Conventional Take-Off and Landing, Short Take-Off and Landing, and Vertical Take-Off and Landing.
Key Market Trends
Conventional Take-Off and Landing is Projected to Grow with the Highest CAGR
Currently, Conventional Take-Off and Landing has the highest share of all the segments. Conventional take-off and landing refer to a method in which an aircraft accelerates along the ground until they have enough power for take-off. Most of the fighter aircraft currently manufactured are based on a conventional take-off and landing configuration. Currently, there are various programs which are going on in terms of conventional take-off and landing fighter aircraft. Under the F-35 Joint Strike Fighter (JSF) Program, the US Department of Defense (DOD) are planning to acquire more than 2400 new generation F-35s. Of the total acquisition, more than 1,700 aircraft shall be F-35A. Moreover, the F-35A shall replace the F-16 and the F-15 fighter aircraft. Singapore is also in plans to replace their aging F-16 fighter jets with the F-35 Joint Strike Fighter. Thus, upcoming developments shall increase the focus on this segment, and this shall be the reason for its expected high CAGR.
North America is Expected to Witness the Highest Growth
In the fighter aircraft market, North America shall experience the highest growth. Various developments in the North American region in terms of fighter aircraft shall lead to its high growth. The US Air Force has since the end of the Second World War been regarded as the supreme air force of the world. Currently, the United States has over 2000 fighter aircraft and the US Department of Defense are now focused on upgrading its fighter aircraft fleet. Additionally, the USAF (the United States Air Force) plans to increase their fighter aircraft squadron from 55 to 65 in the coming years in order to deal with the growing military might of China and Russia. In 2018, Lockheed Martin announced its plan to develop an updated version of their F-22 Raptor fighter aircraft for the USAF. Lockheed Martin plans to combine the top features of the F-35 and the F-22 aircraft into the F-22 Raptor Hybrid aircraft. Thus, various ongoing developments in terms of fighter aircraft shall lead to its growth in North America in the near future.
Competitive Landscape
Various players such as Lockheed Martin Corporation, The Boeing Company, Airbus Defence and Space, Dassault Aviation, and Hindustan Aeronautics Limited hold significant market share as of December 2018. Various initiatives, as well as product innovations, which are being done by companies, have led them to strengthen their presence in the market. The Boeing Company, Airbus Defence and Space, Lockheed Martin and Dassault Aviation hold the major market share. In 2019, Dassault Aviation reported the first delivery of the Rafale fighter aircraft for the country of Qatar. The first Rafale delivery has happened on schedule after a contract was signed between Qatar and Dassault Aviation for 24 Rafale fighter aircraft to equip for the Qatari Air Force.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
The fighter aircraft market is estimated to grow at a CAGR of over 4% during the forecast period (2019-2024).
- As the countries are striving to enhance their aerial combat capabilities, several nations are upgrading their existing fighter jets or are replacing their aging fleet with newer generation aircraft with advanced features.
- Technology advancements in stealth and precision weapons are further supporting the development of fighter aircraft market, since, every nation want their combat capabilities to be up-to-date.
- However, the development and adoption of unmanned aerial vehicles can act as a restraint for fighter jets.
- Budget constraints can also prevent few smaller countries to opt for next-generation fighter jets which can hinder the market growth during the forecast period.
Scope of the Report
A fighter aircraft can be termed as a high-speed military aircraft which possesses the capability for carrying out air-to-air combat missions. High speed, ease in maneuvering as well as a relatively smaller size are considered to be the hallmarks of the fighter aircraft. These aircraft can also carry heavy payloads and are capable of performing electronic warfare, ground attack, and air-to-air combat. The report also covers the analysis of Conventional Take-Off and Landing, Short Take-Off and Landing, and Vertical Take-Off and Landing.
Key Market Trends
Conventional Take-Off and Landing is Projected to Grow with the Highest CAGR
Currently, Conventional Take-Off and Landing has the highest share of all the segments. Conventional take-off and landing refer to a method in which an aircraft accelerates along the ground until they have enough power for take-off. Most of the fighter aircraft currently manufactured are based on a conventional take-off and landing configuration. Currently, there are various programs which are going on in terms of conventional take-off and landing fighter aircraft. Under the F-35 Joint Strike Fighter (JSF) Program, the US Department of Defense (DOD) are planning to acquire more than 2400 new generation F-35s. Of the total acquisition, more than 1,700 aircraft shall be F-35A. Moreover, the F-35A shall replace the F-16 and the F-15 fighter aircraft. Singapore is also in plans to replace their aging F-16 fighter jets with the F-35 Joint Strike Fighter. Thus, upcoming developments shall increase the focus on this segment, and this shall be the reason for its expected high CAGR.
North America is Expected to Witness the Highest Growth
In the fighter aircraft market, North America shall experience the highest growth. Various developments in the North American region in terms of fighter aircraft shall lead to its high growth. The US Air Force has since the end of the Second World War been regarded as the supreme air force of the world. Currently, the United States has over 2000 fighter aircraft and the US Department of Defense are now focused on upgrading its fighter aircraft fleet. Additionally, the USAF (the United States Air Force) plans to increase their fighter aircraft squadron from 55 to 65 in the coming years in order to deal with the growing military might of China and Russia. In 2018, Lockheed Martin announced its plan to develop an updated version of their F-22 Raptor fighter aircraft for the USAF. Lockheed Martin plans to combine the top features of the F-35 and the F-22 aircraft into the F-22 Raptor Hybrid aircraft. Thus, various ongoing developments in terms of fighter aircraft shall lead to its growth in North America in the near future.
Competitive Landscape
Various players such as Lockheed Martin Corporation, The Boeing Company, Airbus Defence and Space, Dassault Aviation, and Hindustan Aeronautics Limited hold significant market share as of December 2018. Various initiatives, as well as product innovations, which are being done by companies, have led them to strengthen their presence in the market. The Boeing Company, Airbus Defence and Space, Lockheed Martin and Dassault Aviation hold the major market share. In 2019, Dassault Aviation reported the first delivery of the Rafale fighter aircraft for the country of Qatar. The first Rafale delivery has happened on schedule after a contract was signed between Qatar and Dassault Aviation for 24 Rafale fighter aircraft to equip for the Qatari Air Force.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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