The global fighter aircraft market size reached US$ 59.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 72.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028.
Fighter aircraft is designed mainly for air-to-air combat to secure control of essential airspace by destroying adversary aircraft. It has the capabilities of ground attack, firepower, and maneuverability, which help establish air superiority of the battlespace in military conflict. It is also used for non-combat purposes, including transport, training, search and rescue, reconnaissance, observation and surveillance, airborne early warning and control (AEW&C), and aerial refueling. Nowadays, fighter aircraft are highly specialized with advanced features like modified engines that contain an afterburner to provide additional thrust when fuel is ignited in the augmentor.
Fighter Aircraft Market Trends:
- Due to a rise in terrorism and geopolitical tensions between countries, defense agencies are increasingly spending on replacing existing warplanes and superiority fighters with next-generation aircraft. This can also be attributed to the rising need for military modernization, growing situational awareness, and the widespread integration of advanced battlefield systems with military aircraft to improve surveillance, navigation, and communications. Apart from this, their demand is increasing in natural disaster vulnerable areas to mitigate the damage and provide essential supplies to victims of natural calamities during rescue missions. Besides this, the launch of multirole fighter planes with extreme agility, stealth features, integrated sensor package, superior performance, and modern weaponry is contributing to the market growth. Furthermore, key market players are launching fighter aircraft integrated with sophisticated technologies like air-to-surface missiles, laser-guided bombs, and anti-radiation missiles for a wide array of missions, including surveillance, attack, electronic warfare, and signals intelligence. In addition, as governing agencies of numerous countries are focusing on expanding defense budgets, the demand for advanced fighter aircraft is anticipated to increase in the coming years.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global fighter aircraft market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on take-off and landing, aircraft type and application.
Breakup by Take-off and Landing:
- Conventional Take-off and Landing
- Short Take-off and Landing
- Vertical Take-off and Landing
Breakup by Aircraft Type:
Breakup by Application:
- Homeland Security
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined along with the profiles of the key players being Airbus SE, Aviation Industry Corporation of China Ltd., BAE Systems PLC, Dassault Aviation S.A, Hindustan Aeronautics Limited, Korea Aerospace Industries, Leonardo SpA, Lockheed Martin Corporation, Raytheon Technologies Corporation, Saab AB and The Boeing Company.
Key Questions Answered in This Report:
- How has the global fighter aircraft market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global fighter aircraft market?
- What are the key regional markets?
- What is the breakup of the market based on the take-off and landing?
- What is the breakup of the market based on the aircraft type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global fighter aircraft market and who are the key players?
- What is the degree of competition in the industry?