The global military VTOL aircraft market was valued at close to USD5 billion in 2015 and is expected almost to reach USD6 billion by 2020, says Technavio.
Technavio has announced its latest market research report on military VTOL aircraft during the forecast period, 2016-2020. This market analysis, under the defense vertical, discusses the major drivers and key emerging trends that will influence the growth of the global military VTOL aircraft market during the forecast period. Some of the top vendors listed in this industry analysis include Aurora Flight Sciences, Bell Helicopter, Boeing, and Lockheed Martin.
In terms of geographical analysis, the Americas will be the largest region in the global market, and is expected to reach revenues of more than USD2 billion by 2020. The US will emerge as the key revenue generator in the region.
“The emerging trend of fully electrical VTOL aircraft is expected to fuel the market growth during the forecast period. The development of electrical VTOL aircraft is primarily driven by the increasing demand for environmentally friendly and highly-efficient aircraft with low noise and fuel consumption. The electric systems are more efficient than the combustion systems, which will fuel the requirement for these systems in the aerospace and defense sector. These systems increase the aircraft productivity through enhancing the power generated by the engine,” says Moutushi Saha, a lead analyst at Technavio for research on defense.
Click here to request a free sample of this report
The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Arms race among countries to develop advanced aircraft
Growth in terrorist activities and an increase in national security threats are driving the demand in the market. The availability of advanced military platforms such as aircraft, helicopters, naval vessels, and other associated equipment help support military operations during the war, counter-insurgency operations, and humanitarian assistance missions. Various countries are concentrating on developing and using VTOL aircraft to attain military supremacy. These systems include heavy-lift VTOL, tiltrotor, and other VTOL aircraft.
Growing investments by DARPA
The increasing requirement for efficient aircraft is driving the need for advanced VTOL technology. Recently, DARPA launched a hybrid aircraft program called DARPA’s Vertical Takeoff and Landing Experimental Plane (VTOL X-Plane) program. The program is set in three phases and has a consolidated investment of around $130 million. The new developed VTOL aircraft will comprise advanced flight control systems that are designed to withstand harsh aerodynamic forces by obtaining cruise lift-by-drag ratio of at least 10. Some of the other features include propulsion systems, airframe structural strength, and thermodynamics for working against the principle of low lift at high temperature.
Aerial platform replacement projects
The vendors in the market are developing technology to introduce advanced systems in the VTOL systems in the aircraft. The requirement for better aircraft capability, performance, and investments will lead the defense agencies to initiate new programs to replace old aircraft with VTOL aircraft. The US Department of Defense is focusing on developing a next-generation VTOL aircraft for the US armed forces to offer safer and efficient performing systems to the armed forces.
This research report includes an in-depth analysis, market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Military VTOL Aircraft Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Counter Unmanned Aerial Vehicle Defense System Market 2016-2020
- Global VTOL UAV Market 2016-2020
- Global Military Aircraft Actuation Systems Market 2016-2020
To read more press releases- click here.
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.technavio.com/
