The Business Research Company’s Fighter Aircrafts Global Market Report 2021: COVID-19 Impact and Recovery To 2030
LONDON, GREATER LONDON, UK, May 6, 2021 /EINPresswire.com/ — 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 as per TBRC’s fighter aircraft industry analysis. 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.
The fighter aircrafts market consists of sales of fighter aircraft by entities (organizations, sole traders, and partnerships) that produce fighter aircrafts. 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 aircraft 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, defense, other; by system into airframe, engine, avionics, landing gear system, weapon system.
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The global fighter aircrafts market size 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 aircrafts market growth 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 later expected to reach $108.53 billion in 2025 at a CAGR of 3%.
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, Hindustan Aeronautics Limited.
Fighter Aircrafts Global Market Report 2021: COVID-19 Impact and Recovery To 2030 is one of a series of new reports from The Business Research Company that provides fighter aircrafts market overview, forecast fighter aircrafts market size and growth for the whole market, fighter aircrafts market segments, and geographies, fighter aircrafts market trends, fighter aircrafts market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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