The report “Special Mission Aircraft Market by Platform (Military Aviation, Commercial Aviation, UAV), by Application (ISR, Command and Control, Combat Support, Air-Launch/Rocket Launch) by Payload, by End-User, by Point of Sale, and by Region – Forecast to 2025″, size is projected to grow from USD 13.5 billion in 2020 to USD 18.3 billion by 2025, at a CAGR of 6.2% from 2020 to 2025. The market is driven by various factors, such as the growing need for air-to-air refueling to support overseas deployment and increasing usage of UAVs in military operations.
• Informational PDF Brochure :-
Boeing (US), Lockheed Martin (US), Dassault Aviation (France), Textron Aviation (US) and Northrop Grumman (US), among others, are some of the leading players operating in the special mission aircraft market. These players have adopted various organic and inorganic growth strategies to strengthen their position in the market. These include new product developments, contracts, partnerships, expansions, agreements, acquisitions, and research & development (R&D) activities further to expand their presence in the special mission aircraft market.
Browse 196 market data Tables and 48 Figures spread through 246 Pages and in-depth TOC on “Special Mission Aircraft Market by Region – Forecast to 2025”
The special mission aircraft market includes major players Boeing (US), Lockheed Martin (US), Dassault Aviation (France), Textron Aviation (US) and Northrop Grumman (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and South America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect special mission aircraft production by 7–10% globally in 2020.
Increasing strategic and tactical operations in military is driving the growth of Military Aviation
The military aviation segment is expected to be the largest market by value. The growth of the military aviation segment of the special mission aircraft market can be attributed to the growing demand for special mission aircraft for usage in various special missions carried out by the military forces such as reconnaissance and surveillance operations.
The air-launch/rocket launch segment is projected to witness a higher CAGR during the forecast period
Based on application, the air-launch/rocket launch segment is projected to be the highest CAGR rate for the special mission aircraft market during the forecast period. These special mission aircraft are provided with capabilities to carry out missions related to releasing a rocket, missile, or other aircraft payloads. The payload is often tucked under the wing of the launch aircraft.
The sensors segment is projected to witness a higher CAGR during the forecast period
Based on the payload type, the sensors segment is projected to be the highest CAGR rate for the special mission aircraft market during the forecast period. The optical sensors are used for military or law enforcement applications that include both visible and infrared sensors. EO/IR systems provide total situational awareness during day and night and in low light conditions. Many types of radar are used in aviation, such as area radars, surveillance radars, and approach radars. ELINT sensors support multiple operational applications such as ESM for situational awareness and real-time creation of EOB (Electronic Order of Battle), Early Warning, Passive Air Situation Picture, and in-depth analysis of the intercepted signals.
The defense segment is projected to witness a higher CAGR during the forecast period
Based on the end-user, the defense segment is projected to be the highest CAGR rate for the special mission aircraft market during the forecast period. Military special mission aircraft are used for ground attack missions, air-to-air combat, and maritime/naval attack by defense forces worldwide. Various federal law enforcement agencies around the world such as the National Security Agency (NSA) (US), Federal Security Service (FSB) (Russia), National Security Council (NSC) (India), and Ministry of State Security (MSS) (China), among others, are using special mission aircraft for intelligence, surveillance, and reconnaissance (ISR) and border protection activities.
The North America market is projected to contribute the largest share from 2020 to 2025
North America is projected to be the largest regional share for the special mission aircraft market during the forecast period. The US is one of the largest developers, operators, and exporters of special mission aircraft and systems, globally, and thus accounts for a large share of the North American region in the global special mission aircraft market.
North American countries it is home to prominent players manufacturing a wide range of technologically improved avionics systems and aircraft components. Leading aircraft manufacturers, such as the Boeing Company and Textron Inc., and major aircraft system and component manufacturers, such as Honeywell Aerospace, Inc., Collins Aerospace, UTC Aerospace Systems, Woodward, Inc., and Moog Inc., are headquartered in the US.
As per the Stockholm International Peace Research Institute (SIPRI), the US was the leading military spender in 2019, at USD 732 billion, which was as much as the next eight top military spender countries in 2019. Military contracts acquired by US companies such as Boeing and Lockheed Martin have generated substantial revenue for this region in the market.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States