Fighter Aircrafts Global Market Report 2021: COVID-19 Impact and Recovery To 2030

Major players in the fighter aircrafts market are Lockheed Martin Corporation, Airbus SE, The Boeing Company, BAE Systems, Russian Aircraft Corporation MiG, Saab, Dassault Aviation SA, PJSC Sukhoi Company, KAI, and Hindustan Aeronautics Limited.

New York, June 22, 2021 (GLOBE NEWSWIRE) — announces the release of the report “Fighter Aircrafts Global Market Report 2021: COVID-19 Impact and Recovery To 2030” –

The global fighter aircrafts market is expected to decline from $96.87 billion in 2020 to $96.4 billion in 2021 at a compound annual growth rate (CAGR) of -0.5%. The fighter aircraft market is expected to deteriorate slightly in 2021 on account of post-COVID-19 implications including shortage of workforce and decrease in demand due to the COVID-19 crisis. The market is expected to reach $108.53 billion in 2025 at a CAGR of 3%.

The fighter aircrafts market consists of sales of fighter aircraft by entities (organizations, sole traders, and partnerships) that produce fighter aircraft.A fighter aircraft is a fixed-wing aircraft designed for air-to-air combat against other aircraft.

Only goods and services traded between entities or sold to end consumers are included.

The fighter aircrafts market covered in the report is segmented by type into conventional take-off and landing, short take-off and landing, vertical take-off and landing; by application into homeland security, defence, other; by system into airframe, engine, avionics, landing gear system, weapon system

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The development and adoption of autonomous aircraft are projected to limit the growth of the fighter aircrafts market over the forecast period.Unmanned aerial vehicles are equipped with onboard computers that are controlled remotely from ground-based controllers.

India is one of the fastest-growing markets for unmanned aerial vehicles and a leading importer of UAV for military purposes globally. The customer-focused innovation in UAV technology and the rise in demand for UAV for surveillance applications is to restrict the growth of the fighter aircrafts market in the near future.

In April 2020, Raytheon Company, a USA based technology company specializing in defense, homeland security, and other government markets merged with United Technologies Corporation for an undisclosed amount. The merged company which is newly formed is known as Raytheon Technologies Corporation and it will combine its predecessor’s legacy expertise in aeronautics, defense weapons, cybersecurity, and information technology across its four business segments including Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.

Countries across the globe are striving to enhance their aerial combat capabilities for increased airborne security.The growing emphasis on airborne security is expected to boost the demand for fighter aircraft, thereby propelling the growth of the fighter aircrafts market.

According to the Airforce Technology, in July 2020, the government of India approved the purchase of 33 fighter aircraft to strengthen its air force capabilities during the ongoing standoff with Chinese forces on the Line of Actual Control (LAC) in Ladakh.The acquisition was cleared by the Defence Acquisition Council (DAC) and included 12 Su-30 MKI and 21 MIG-29 aircraft.

Moreover, the DAC also approved the modernization of 59 existing MIG-29 aircraft.

Major players operating in the fighter aircrafts industry are focusing on automation in the manufacturing line to reduce manufacturing time and labor costs which is likely to be a leading trend in the fighter aircrafts market.For instance, in December 2019, Airbus SE, a France-based multinational aerospace company engaged in designing, manufacturing, and selling military aircraft, commercial aircraft, helicopters, satellites, and launch vehicles, acquired MTM Robotics, an industrial automation company for an undisclosed amount.

The acquisition is aimed at expanding Airbus’s commitment to advanced robotics capabilities within the manufacturing process.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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