Fighter Aircraft Market: Industry Insights, Major Key Players and Current Trends Analysis and Forecast: 2022-2031

Japan, Japan, Thu, 31 Mar 2022 03:19:32 / Comserve Inc. / -- The fighter aircraft market is estimated to register a CAGR of over 4% during the forecast period (2022-2031).

The fighter aircraft market is estimated to register a CAGR of over 4% during the forecast period (2020-2025).

- As the countries are striving to enhance their aerial combat capabilities, several nations are upgrading their existing fighter jets or replacing their aging fleet with newer-generation aircraft with advanced features.
- Technology advancements in stealth and precision weapons are further supporting the development of the fighter aircraft market, as each nation wants its combat capabilities to be up-to-date.
- However, the development and adoption of unmanned aerial vehicles can act as a restraint for fighter jets.
- Budget constraints can also prevent a few smaller countries to opt for next-generation fighter jets, which can hinder the market growth during the forecast period.

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Key Market Trends

Conventional Take-off and Landing is Projected to Register the Highest CAGR during the Forecast Period

Currently, the conventional take-off and landing segment has the largest share of all the segments. Conventional take-off and landing refers to a method in which an aircraft accelerates along the ground until it has enough power for take-off. Most of the fighter aircraft currently manufactured are based on a conventional take-off and landing configuration. Currently, there are various programs that are ongoing, in terms of conventional take-off and landing fighter aircraft. Under the F-35 Joint Strike Fighter (JSF) Program, the US Department of Defense (DOD) is planning to acquire more than 2,400 new generation F-35s. In the total acquisition, more than 1,700 aircraft will be F-35A. Moreover, the F-35A is expected to replace the F-16 and the F-15 fighter aircraft. Singapore is also planning to replace the country's aging F-16 fighter jets with the F-35 Joint Strike Fighter. Thus, the upcoming developments are expected to increase the focus on this segment, thereby increasing the expected CAGR of the segment.

North America is Expected to Witness the Highest Growth between 2022 - 2031

In the fighter aircraft market, North America is expected to experience the highest growth. In North America, various developments in fighter aircraft, are expected to lead to its high growth. The US Air Force, has been regarded as the supreme air force of the world since the end of the Second World War. Currently, the United States has over 2,000 fighter aircraft, and the US Department of Defense is now focused on upgrading its fighter aircraft fleet. Additionally, the USAF (the United States Air Force) plans to increase its fighter aircraft squadron from 55 to 65 in the coming years, in order to deal with the growing military might of China and Russia. In 2018, Lockheed Martin announced its plan to develop an updated version of its F-22 Raptor fighter aircraft for the USAF. Lockheed Martin plans to combine the top features of the F-35 and the F-22 aircraft into the F-22 Raptor Hybrid aircraft. Thus, various ongoing developments in fighter aircraft are expected to lead the growth of fighter aircraft in North America in the near future.

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Competitive Landscape

Various players, such as Lockheed Martin Corporation, The Boeing Company, Airbus SE, Dassault Aviation, and Hindustan Aeronautics Limited, held a significant market share, as of December 2019. Various initiatives and product innovations by companies are leading them to strengthen their presence in the market. The Boeing Company, Airbus Defence and Space, Lockheed Martin, and Dassault Aviation hold major market shares. In 2019, Dassault Aviation reported the first delivery of the Rafale fighter aircraft for Qatar. The first Rafale delivery took place on schedule after a contract was signed between Qatar and Dassault Aviation for 24 Rafale fighter aircraft, in order to equip the Qatari Air Force.

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