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The military multirole aircraft market share is expected to increase by USD 3.67 billion from 2021 to 2026, at a CAGR of 3.89%.
This military multirole aircraft market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers military multirole aircraft market segmentation by type (rotorcraft and fixed-wing) and geography (North America, APAC, Europe, South America, and Middle East and Africa). The military multirole aircraft market report also offers information on several market vendors, including Airbus SE, Aviation Industry Corp. of China Ltd., Bombardier Inc., Dassault Aviation Group, Eaton Corp. Plc, Elbit Systems Ltd., Eurofighter GmbH, Israel Aerospace Industries Ltd., Lockheed Martin Corp., Northstar, Protankgrup, Raytheon Technologies Corp., Saab AB, The Boeing Co., United Aircraft Corp., and Leonardo Spa among others.
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The focus on minimizing environmental effects is notably driving the military multirole aircraft market growth, although factors such as the adoption of unmanned aerial vehicles (UAVs) may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the military multirole aircraft industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Military Multirole Aircraft Market Driver
One of the key factors driving growth in the military multirole aircraft market is the focus on minimizing environmental effects. The two primary environmental concerns posed by military multirole aircraft are fuel consumption and noise reduction. Militaries are among the largest contributors to global warming, which results in the depletion of the Earth's ozone layer. Hence, suppliers of military multirole aircraft are obligated to manufacture engines, generators, and auxiliary power units (APUs) that consume less fuel and are more efficient. Also, budgetary constraints compel defense ministries of different countries to adopt more fuel-efficient APU systems to achieve monetary savings in terms of aviation fuel. Also, the high noise levels generated by traditional APUs in stealth helicopters and military aircraft have driven manufacturers to develop new and advanced APUs that have low noise signatures.
Key Military Multirole Aircraft Market Trend
The rising arms race among countries leading to a surge in demand for military multirole aircraft is a military multirole aircraft market trend that is expected to have a positive impact in the coming years. Increasing conflicts and cross-border skirmishes around the globe have compelled countries such as China, India, and South Korea to modernize and strengthen their defense systems. The governments of various countries are increasing their defense budgets to expand their air force fleets. Most of the largest defense spenders are focusing on upgrading their aerial firepower, which is driving the growth of the market in focus. India is expected to have more than 100 Rafale fighter aircraft by the end of 2022. The increase in the arms race is one of the key reasons for the growth of the global military multirole aircraft market.
Key Military Multirole Aircraft Market Challenge
The adoption of unmanned aerial vehicles (UAVs) will be a major challenge for the military multirole aircraft market during the forecast period. Unmanned aerial vehicles (UAVs), also known as drones, are employed for reconnaissance and surveillance, as well as target acquisition and intelligence gathering. They are used in controlling battle damage, supply distribution and transportation, and conducting combat operations. The increased focus on ensuring the safety of military and other personnel is spurring the rising demand for UAVs. Nonetheless, the increasing adoption of UAVs will hamper the growth of the global military multirole aircraft market.
This military multirole aircraft market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global military multirole aircraft market as a part of the global aerospace & defense market within the global capital goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the military multirole aircraft market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the military multirole aircraft market encompasses successful business strategies deployed by the key vendors. The military multirole aircraft market is fragmented and the vendors are deploying growth strategies such as focusing on providing cost-effective, high-quality, and innovative solutions with up-to-the-minute technology and materials to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The military multirole aircraft market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.
Our report provides extensive information on the value chain analysis for the military multirole aircraft market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market's growth will originate from North America during the forecast period. The US is the key market for military multirole aircraft in North America. Market growth in this region will be slower than the growth of the market in other regions.
The growing global conflicts and rising attacks on civilians will facilitate the military multirole aircraft market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic adversely impacted several countries in the region. Countries such as the US, Canada, and Mexico were severely affected by the pandemic. In 2020, several countries imposed lockdowns and halted operations in aircraft manufacturing facilities for a few months to contain the spread of the disease. However, in Q4 2020 and H1 2021, the initiation of large-scale COVID-19 vaccination drives led to the resumption of manufacturing operations in the region.
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The military multirole aircraft market share growth by the rotorcraft segment will be significant during the forecast period. In 2021, rotor-craft accounted for the major share in the global military multirole aircraft market, and it is expected to grow at a significant rate during the forecast period. These types of aircraft are used for short-distance purposes, such as transport, rescue, and travel. The rise in the procurement of helicopters is expected to increase the demand for rotor-craft, thereby driving the growth of the market segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the military multirole aircraft market size and actionable market insights on the post-COVID-19 impact on each segment.
Military Multirole Aircraft Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 3.89% |
Market growth 2022-2026 |
$3.67 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.2 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key consumer countries |
US, China, India, Russia, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Airbus SE, Aviation Industry Corp. of China Ltd., Bombardier Inc., Dassault Aviation Group, Eaton Corp. Plc, Elbit Systems Ltd., Eurofighter GmbH, Israel Aerospace Industries Ltd., Lockheed Martin Corp., Northstar, Protankgrup, Raytheon Technologies Corp., Saab AB, The Boeing Co., United Aircraft Corp., and Leonardo Spa |
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. |
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 report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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