Technavio, a tech-focused market research firm, has published a new report on the global fighter aircraft market, which is expected to experience a steady growth rate with a CAGR of more than 4% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global fighter aircraft market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global fighter aircraft market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global fighter aircraft market for 2015 (market share %)
|
EMEA |
36.10% |
|
APAC |
34.63% |
|
Americas |
29.27% |
Source: Technavio
Fighter aircraft market in EMEA
EMEA accounted for a maximum share of around 36% in the global fighter aircraft market in 2015 and is expected to witness a steady growth during the forecast period.
According to Moutushi Saha, a lead analyst at Technavio, specializing in research on defense, “The economic and political crisis in the European countries such as Greece, Ireland, Cyprus, and Ukraine display multiple challenges for the defense sector. At present, the region is facing a challenging security situation on many fronts. In addition, the growing entry of illegal immigration from countries such as Syria and Lebanon into several European countries is intensifying the risk of internal rebellion and extremist attacks.”
For better control over the security situations and to improve the combat readiness in times of crisis, countries such as Egypt, France, Germany, and the UK have developed and acquired many fighter aircrafts. Such developments ensure efficient action during emergency situations, attacks, and turbulent or unrest circumstances. The increase in the occurrence of anti-extremist missions is likely to upsurge the demand for fighter aircrafts. Europe is a major hub for the development of fighter planes and has secured several export orders. The Middle East and North Africa represent a substantial portion of the global fighter aircraft market, with the Gulf nations constantly spending on advanced fighter aircraft platforms combined with an ongoing requirement to counter militant insurgency.
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Fighter aircraft market in APAC
Technavio expects the fighter aircraft market in APAC to grow at a CAGR of around 4% during the forecast period. Recently, the APAC region has been prone to extremist, insurgent threats and territorial disputes. The major contributors to the growth of the market in APAC are China, India, Australia, and South Korea due to the rising number of conflicts in the Indian Ocean and the South China Sea. To augment the combat readiness of the armed forces and owing to the changing nature of urban and conventional warfare, a few APAC countries such as China, South Korea, Australia, India, Pakistan, Japan, and Taiwan are developing and procuring fighter aircraft for their air forces. The region’s two major powers, India and China, have initiated the planning and development of fifth- and sixth-generation fighter aircraft programs, such as the Tejas, Chengdu J-20, and the Shenyang J-31.
Fighter aircraft market in the Americas
Technavio expects the fighter aircraft market in the Americas to grow at a CAGR of around 4% during the forecast period. North America leads the global fighter aircraft market in terms of expenditure and technological advancements that creates a high demand for these planes. The major contributor to this market is the US followed by Brazil and Canada. The US will be the largest spender in military aerospace across the globe, with an estimated expenditure of over $260 billion during the forecast period. Moreover, the US has also done massive funding for the development of F-35, which will further drive its market revenue in the coming years. In the other parts of the Americas such as Colombia and Peru, plans are to procure new fighter squadrons, while Brazil is focusing primarily on the procurement of Gripen fighter planes.
The top leading vendors operating in the global fighter aircraft market are:
- Airbus Defence and Space
- BAE Systems
- Boeing
- Lockheed Martin
- Saab
Other prominent vendors in the market include Alenia Aermacchi, Chengdu Aircraft Industry, Dassault Aviation, HAL, KAI, Russian Aircraft Corporation MiG, Shenyang Aircraft, and Sukhoi.
A more detailed analysis is available in the Technavio report tilted, ‘Global Fighter Aircraft Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Aircraft Ejection Seats Market 2016-2020
- Global Aircraft Carriers Market 2016-2020
- Global Military Aircraft Hangars Market 2016-2020
- Global Military Aircraft Avionics Market 2017-2021
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