Special Mission Aircraft Market by Type (Intelligence, Surveillance & Reconnaissance (ISR), Maritime Patrol Aircraft (MPA), Airborne Early Warning & Control (AEW&C), Anti-Surface Warfare & Anti-Submarine Warfare (ASW), Search & Rescue (SAR), and Refueling): Global Opportunity Analysis and Industry Forecast, 2020 – 2030
Industry: Aerospace & Defense | Publish Date: 25-Oct-2024 | No of Pages: 228 | No. of Tables: 116 | No. of Figures: 71 | Format: PDF | Report Code : AD379
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Market Definition:
At an estimated value of over USD 13.62 billion in 2019, the global Special Mission Aircraft Market is predicted to thrive at a CAGR of 9.7% and valued at over USD 33.55 billion over the forecast year 2020-2030.
Special mission aircrafts are specifically developed to commence an over-battlefield role by using advanced onboard equipment. Majorly, this class of aircrafts consist of fighter aircrafts, interceptor fighters, and troop transports. These aircrafts are provided with several capabilities to carry out missions such as to release a missile, rocket, or other aircraft payloads.
Market Dynamics and Trends:
The demand for special mission aircraft is mainly driven by increasing usage of unmanned aerial vehicle (UAVs) in military operations and rising need for air-to-air refueling. Also, rising need for special mission aircraft in commercial and defense applications is one of the major factors fueling the growth of the special mission aircraft market.
In addition to this, factors such as growing terrorism activities along with the increased defense budget of the major developing nations such as China and India are expected to drive the special mission aircrafts market.
However, factors such as strict regulatory standards to manufacture special mission aircraft components and lengthy period for product certification by aviation authorities are projected to hamper the growth of the market during forecast period. Contradictorily, rise in the demand for the air-launched small satellites, is anticipated to create ample opportunities to further propel the special mission aircraft market growth.
Market Segmentations and Scope of the Study:
The global special mission aircraft market share is segmented on the basis of type and geography. On the basis of type, the market is categorized into Intelligence, Surveillance & Reconnaissance (ISR), Maritime Patrol Aircraft (MPA), Airborne Early Warning & Control (AEW&C), Anti-Surface Warfare & Anti-Submarine Warfare (ASW), Search & Rescue (SAR), and refueling. Geographic fragmentation and analysis of each segment includes regions comprising North America, Europe, Asia Pacific and Rest of the World.
Geographical Analysis:
In terms of geography, North America held the major share of the special mission aircraft market in 2019. This is due to the fact that the U.S. is one of the largest developers, exporters, and operators of special mission aircraft around the globe.
For instance, the prominent key players such as the Boeing Company, Textron Inc., Honeywell Aerospace, Inc., Collins Aerospace, and UTC Aerospace Systems are headquartered in the U.S. However, Asia-pacific is expected to experience fastest growth owing to surge in territorial disputes in Eastern Asia and increased defense expenditure by several economies in the region.
Competitive Landscape:
Lucrative growth opportunities makes the special mission aircraft industry highly competitive. Some of the major players in the market are Elbit Systems Ltd, BAE Systems, Bombardier Inc, Dassault Aviation Sa, General Atomics Aeronautical Systems, Inc, Israel Aerospace Industries Ltd, Kratos Defense & Security Solutions, Inc., Leonardo SPA, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, Textron Aviation Inc., Thales SA, and The Boeing Company. A number of developmental strategies have been adopted by companies in the past few years.
For instance, in May 2020, Northrop Grumman secured a $176.5 million agreement to help the U.S. Army manage fixed-wing electronic warfare aircraft during the lifecycle of fleet. Moreover, in February 2021, Lockheed Martin signed an agreement with Hindustan Aeronautics Limited (HAL) to explore potential industrial collaboration in aerospace sector across the India.
KEY BENEFITS:
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The special mission aircraft market report provides a quantitative analysis of the current market and estimations throughout 2020-2030 that assists in identifying the prevailing industry opportunities to capitalize on.
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The study comprises an extensive analysis of the current and future special mission aircraft market trends for depicting the prevalent investment pockets in the industry
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The information related to key drivers, restraints and opportunities alongside their impact on the special mission aircraft market is provided in the report.
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The market share of the key players in the global special mission aircraft market, along with their competitive analysis is mentioned.
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Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
SPECIAL MISSION AIRCRAFT MARKET KEY SEGMENTS:
By Type
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Intelligence, Surveillance & Reconnaissance (ISR)
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Maritime Patrol Aircraft (MPA)
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Airborne Early Warning & Control (AEW&C)
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Anti-Surface Warfare & Anti-Submarine Warfare (ASW)
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Search & Rescue (SAR)
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Refuelling
By Geography
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North America
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U.S.
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Canada
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Mexico
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Europe
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UK
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Italy
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Germany
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Spain
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Netherlands
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Taiwan
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Vietnam
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Rest of Asia Pacific
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RoW
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Latin America
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Middle East
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Africa
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REPORT SCOPE AND SEGMENTATION:
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Parameters |
Details |
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Analysis Period |
2019–2030 |
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Base Year Considered |
2020 |
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Forecast Period |
2020–2030 |
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Market Size Estimation |
Billion (USD) |
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Market Segmentation |
By Type (Intelligence, Surveillance & Reconnaissance, Maritime Patrol Aircraft, Anti-Surface Warfare & Anti-Submarine Warfare, Airborne Early Warning & Control, Search & Rescue, Refuelling) |
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Geographical Segmentation |
North America (U.S., Canada, Mexico) Europe (UK, Italy, Germany, Spain, Netherlands, Rest of Europe) Asia-Pacific (China, Japan, India, Australia, South Korea, Taiwan, Vietnam, Rest of Asia Pacific) RoW (Latin America, Middle East, Africa) |
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Companies Profiled |
Elbit Systems Ltd, BAE Systems, Bombardier Inc, Dassault Aviation Sa, General Atomics Aeronautical Systems, Inc, Israel Aerospace Industries Ltd, Kratos Defense & Security Solutions, Inc., Leonardo SPA, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, Textron Aviation Inc., Thales SA, and The Boeing Company |
KEY PLAYERS:
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Elbit Systems Ltd
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BAE Systems
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Bombardier Inc
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Dassault Aviation SA
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General Atomics Aeronautical Systems, Inc
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Israel Aerospace Industries Ltd
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Kratos Defense & Security Solutions, Inc.
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Leonardo SPA
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Lockheed Martin Corporation
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Northrop Grumman Corporation
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Raytheon Technologies Corporation
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Saab AB
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Textron Aviation Inc.
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Thales SA
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The Boeing Company
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