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The fighter aircraft market size is estimated to grow at a CAGR of 6.4% between 2022 and 2027. The fighter aircraft market size is forecast to increase by USD 17,696.67 million. The growth of the market depends on several factors, including the increasing number of military aircraft, rising geopolitical tensions between countries, and strategic collaborations.
This fighter aircraft market report extensively covers market segmentation by technology (conventional take-off and landing, short take-off and landing, and vertical take-off and landing), type (fixed-wing and rotorcraft), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Fighter Aircraft Market Customer Landscape
Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The increasing number of military aircraft is notably driving the market growth. The rapidly increasing investments in the development and acquisition of military aircraft are the main driver of the growth of the global market for fighter aircraft. Due to nations like Japan, Vietnam, and the Philippines expanding their aerial fleet in response to China's moves to assert territorial claims in the South China Sea and the ongoing conflict between Russia and Ukraine, APAC and Europe have recently been the two regions that have purchased the most fighter aircraft.
While China is attempting to increase its influence in South Asia, India is involved in border disputes with Pakistan and is concerned about these efforts. Additionally, the neighboring nations are very concerned about North Korea's efforts to increase its military firepower. Hence, such factors are expected to boost the growth of the global market during the forecast period.
Increasing military spending is an emerging trend in the market. Modernizing the fleets of existing fighter aircraft has been made possible by the growing investments being made by nations like the US, Russia, and China in achieving integrated air defense capabilities. The need to develop and use long-range airborne surveillance and strike platforms has also arisen when operating against nations that are capable of using advanced anti-access offensive weapon systems, such as cruise and ballistic missiles.
Investment in war and conflict has grown significantly over the past ten years on a global scale. The purpose of this investment by governments is to give citizens security and protection while gaining geopolitical influence over other nations. For instance, US military spending increased by 2.86% from 2020 to 2021, reaching USD 800.67 billion. Therefore, increasing military investments are expected to boost the growth of the global market during the forecast period.
Barriers to adopting new technology and equipment are major challenges impeding market growth. Vendors that offer products that are integrated with upgraded fighter aircraft must abide by the strict regulatory standards of each nation. With government organizations and defense departments in various nations, many vendors are also involved. As a result, service providers are now required to adhere to strict laws at the local, state, and federal levels.
Adopting new technologies is difficult for military forces because they have a tendency to become obsolete. Advanced improvised explosive devices, rocket-propelled grenades, smart munitions, advanced electronic warfare, and other systems used in fighter aircraft are all advancing rapidly. Countries cannot afford to adopt every new technology because it will delay the operation of their aircraft. Many development initiatives have recently been shelved or delayed as a result of these difficulties. Hence, such factors will hamper the growth of the global market during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Dassault Aviation SA - The company focuses on the aerospace domain comprising defense programs and falcon programs. The key offerings of the company include alpha jet fighter aircraft, which is being designed to carry AIM 9 sidewinder, matra magic II series air-to-air missiles, as well as AGM 65 maverick air-to-ground missiles to execute new and emerging threats.
Hindustan Aeronautics Ltd. - The company deals with the production, service, and export of aircraft, helicopters, power plants, future products, aerospace solutions, and systems and accessories. The key offerings of the company include multi-role fighter aircraft, which is designed to take up offensive air support, close combat, ground attack role, along with ground maritime operations.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis. Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The conventional take-off and landing segment will contribute a major share of the market, as it is widely used for fighter aircraft. The conventional take-off and landing segment showed a gradual increase in market share with USD 18,279.51 million in 2017 and continued to grow by 2021. The conventional take-off and landing require long runways to take off and land with the help of a tailhook and arresting wire system. It provides supportability, operational effectiveness, and advanced avionics to fighter aircraft.
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Longer-range combat operations are supported by fighter aircraft with conventional takeoff and landing. In comparison to other technologies, the designs for fighter aircraft using conventional takeoff and landing technology are more affordable. Because of this, the aerospace and defense industries are witnessing an increase in the demand for conventional take-off and landing technology, which is anticipated to propel the development of this market segment during the forecast period.
Fixed-wing fighter aircraft are powered by propellers, require a landing area, and have immovable wings. A fixed-wing fighter aircraft is widely used for long-distance purposes, such as maneuverability and inspection of infrastructure, as it can go further before refueling. Additionally, to improve situational awareness and safety, fixed-wing fighter aircraft are used for critical operational requirements. These aircraft's main characteristics are their high speed, firepower, and maneuverability in relation to the target aircraft. Therefore, such factors are expected to drive the growth of the fixed-wing segment in the global market during the forecast period.
APAC is estimated to contribute 35% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
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Countries like India, China, and Japan dominate the APAC market. To reduce their reliance on the air forces of the APAC nations, these nations are also making investments in modernizing the existing technology of their respective fighter aircraft. Moreover, to improve their aerial capabilities, nations in the region are concentrating on developing advanced fighter aircraft domestically. Defense funding agencies are supporting research and development projects to create sophisticated fighter aircraft that can operate successfully in challenging environments and meet the demands of a variety of mission profiles. After the US, China is the country that spends the most on its armed forces globally. Furthermore, India has reportedly surpassed China as the region's top arms importer and has emerged as one of the top global markets for foreign defense contractors. Hence, such factors will fuel the regional market growth during the forecast period.
In 2020, the outbreak of COVID-19 negatively impacted the growth of the regional market. However, the initiation of large-scale vaccination drives led to the lifting of lockdown norms in 2021. This has resulted in the resumption of production activities in fighter aircraft manufacturing facilities. Moreover, due to the growing concern over maritime aggressiveness and the requirement to supplement the capability of surveillance and fighter aircraft, many countries are expected to make a significant investment in acquiring new fighter aircraft. Thus, such factors are expected to boost the growth of the market during the forecast period.
The fighter aircraft market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Fighter Aircraft Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.4% |
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Market growth 2023-2027 |
USD 17,696.67 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
3.44 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 35% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Airbus SE, Aviation Industry Chengdu Aircraft Industry Group Co. Ltd., BAE Systems Plc, Dassault Aviation SA, Embraer SA, Hindustan Aeronautics Ltd., KOREA AEROSPACE INDUSTRIES LTD., Leonardo Spa, Lockheed Martin Corp., Mitsubishi Heavy Industries Ltd., Northrop Grumman Systems Corp., Piper Aircraft Inc., Rostec, Saab AB, Textron Inc., The Boeing Co., United Aircraft Corp., and Kawasaki Heavy Industries Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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