Military Aircraft & Aerospace Manufacturing Market
Military Aircraft & Aerospace Manufacturing Market Study by Aircraft & Parts, Avionics & Electronic Systems, MRO & Other Services, Missiles, and Space Systems From 2024 to 2034
Analysis of Military Aircraft & Aerospace Manufacturing Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Military Aircraft & Aerospace Manufacturing Market Outlook (2024 to 2034)
The military aircraft & aerospace manufacturing market is evaluated to reach a valuation of US$ 339.6 billion in 2024 and is slated to increase at a CAGR of 8.4% to reach US$ 761.97 billion by 2034.
Any fixed-wing or rotary-wing aircraft employed only by a legitimate military organization or a rebel is considered a military aircraft. Combat and non-combat aircraft are the two primary categories of military aircraft. Tankers and transport aircraft are included in the former category. These aircraft are primarily employed to transport military troops and supplies; they do not directly or actively take part in military combat activities. Conversely, fighters and bombers are examples of combat aircraft. Their primary goal is to damage or eliminate opponent ammo and weaponry. National defense teams the legal right to utilize these aircraft.
Regional governmental organizations make all decisions pertaining to the manufacturing, use, transportation, and acquisition of military aircraft. The primary issue with the technology utilized to develop military planes is intellectual property rights. Leading to rising military aircraft & aerospace manufacturing market growth.
Unapproved parties tend to undermine military aircraft systems through cyberattacks and other means. These aircraft are extremely complex airborne technology with advanced propulsion systems, avionics, and stealth capabilities. In addition, they transport military personnel and communication devices that contain vital defense-related information. Therefore, national defense authorities keep investing in the development of advanced military aircraft. With growing security concerns, new growth opportunities are witnessed in the market across regions.
| Report Attributes | Details |
|---|---|
| Military Aircraft & Aerospace Manufacturing Market Size (2024E) | US$ 339.6 Billion |
| Forecasted Market Value (2034F) | US$ 761.97 Billion |
| Global Market Growth Rate (2024 to 2034) | 8.4% CAGR |
| North America Market Value (2024E) | US$ 158.2 Billion |
| East Asia Market Growth Rate (2024 to 2034) | 8.9% CAGR |
| Avionics and Electronic Systems Segment Value (2024E) | US$ 92.85 Billion |
| Europe Market Segment Value (2034F) | US$ 104.85 Billion |
| Key Companies Profiled | Airbus SAS; The Boeing Company; Saab AB; Bell Texton Inc.; Sukhoi Corporation; Korea Aerospace Industries; Embraer SA; Hindustan Aeronautics Limited; GE Aviation |
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Which Factors are Driving the Military Aircraft & Aerospace Manufacturing Market Growth?
“Extremely Efficient Features and Higher Performance Making it Vital in Military”
Due to their features, including high-performance airframes, low-probability-of-interception radar (LPIR), sophisticated avionics, and highly integrated computer systems that are able to communicate with other components in the battlespace for situation awareness, fifth-generation jet fighters are in increased demand. The market for military aircraft is benefitting from it.
As the sole combat-ready fifth-generation fighter aircraft, Lockheed Martin Corporation is collaborating with the United States Air Force to enhance its weapon systems and add new capabilities to the F-22 Raptor. The Israeli Air Force and the United States Marine Corps deployed the ground-breaking fighter F-35 in combat for the first time in 2018.
The fifth-generation F-35 is increasingly viewed as a force multiplier that improves the effectiveness and integration of all branches of a country's military because of its stealth, range, and sensor-fusion capabilities. The HAL Advanced Medium Combat Aircraft (AMCA), a fifth-generation super maneuverable stealth multirole fighter, is developed independently by India. The Aeronautical Development Agency (ADA) is designing it, and Hindustan Aeronautics Limited (HAL) is manufacturing it. The AMCA is now in the detailed design stage, with a 2025 flight date forecasted for the prototype.
“Requirement for New Aircrafts Increasing Manufacturing Demands”
The need to replace traditional military aircraft with more technologically advanced ones is growing because of the technical difficulties with construction, propulsion, and other systems. Some of the older aircraft in the fleet are always in need of more capacity to handle the escalating threats and new mission requirements. Being one of the prominent users of outdated aircraft, the United States Air Force is having difficulties and problems because of the aircraft's continued aging. Therefore, constant requirement for advanced designing and production hub is encountered, which is further positively affecting military aircraft & aerospace manufacturing market size.
To jointly develop and construct Europe's Future Combat Air System (FCAS), which is intended to supplement and eventually replace the current generation Rafale and Eurofighter aircraft, Airbus and Dassault Aviation struck a historic deal in April 2018.
“Countries Working on Advancing Their Military Strength Pushing Market Boundaries”
Countries, such as China, India, and South Korea are modernizing and strengthening their military systems in response to the rise in international conflicts and cross-border activity. To increase the size of their air force fleet, more governments throughout the world are raising their military spending. The major military spenders' desire to upgrade their aerial capability is fueling this market's expansion. By 2022, India planned to possess over 100 rafales. Therefore, one of the key drivers of the military aircraft market's expansion is the rising arms race.
What is a Possible Roadblock in Front of Military Aircraft & Aerospace Manufacturers?
“Cyber threats and Requirement for High Investment Limiting Opportunities”
Unmanned aerial vehicles (UAVs) are employed in information gathering, target acquisition, and reconnaissance and surveillance. They offer combat operations, distribution and transportation, and battle damage control. The safety of the crew members is the main factor driving the increase in demand for UAVs. However, an increase in UAV use is impeding market expansion.
It is anticipated that the high costs of developing or acquiring aviation solutions utilized by military segments limit the worldwide market for military aircraft. High-performance military aircraft are developed using very modern technologies. They are manufactured in smaller quantities than commercial aircraft. Furthermore, it takes years to produce military aircraft due to resource-intensive research and development processes. Although it's challenging to pinpoint the precise cost of military aircraft, several sources suggest a range within which they are purchased. For example, according to government figures, Rafael fighter planes are costing anywhere from $100 to $120 per unit.
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Country-wise Insights
Every country requires to strengthen their military to protect their boundaries in today’s world where political tensions are on rise. This is a primary factor behind the growing demand for more fighting aircrafts in several countries, including the United States, China, Japan, and South Korea. The United States market in North America is forecasted to hold a significant military aircraft & aerospace manufacturing market share.
How is the Market for Military Aircraft & Aerospace Manufacturing Becoming stronger in the United States?
”Government Expenditure in Defense Initiatives Driving Demand for Military Aircraft”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 141.73 Billion |
| Growth Rate (2024 to 2034) | 7.7% CAGR |
| Projected Value (2034F) | US$ 297.57 Billion |
Increased demand for military aircraft & Aerospace manufacturing in the United States is due to substantial government investment in defense initiatives. With ongoing geopolitical tensions and conflicts around the world, the United States government is prioritizing military readiness, which drives demand for advanced military aircraft. Programs, including the F-35, alongside initiatives to upgrade existing fleets, are key components of this expansion.
The United States military seeks to enhance mission capabilities through the integration of cutting-edge technologies, such as stealth, advanced avionics, and cyber defense mechanisms. Increased funding for research and development ensures that manufacturers remain at the forefront of innovation.
Why is the Market for Military Aircraft and Aerospace Manufacturing Booming in China?
“Presence of Countries Such as India and Russia Making the Requirement Increase in the Country”
| Attribute | China |
|---|---|
| Market Value (2024E) | US$ 18.97 Billion |
| Growth Rate (2024 to 2034) | 11.4% CAGR |
| Projected Value (2034F) | US$ 55.95 Billion |
The market in China is booming, primarily driven by the country's efforts to modernize its military capabilities in response to regional security concerns. The presence of neighboring countries, such as India and Russia, is intensifying the need for a robust defense system, propelling China to enhance its air force capabilities. The government in china is heavily investing in the development of advanced military aircraft, including stealth fighters and drone technology, to assert its presence in the region.
Belt and Road Initiative is improving partnerships with other countries, creating opportunities for collaborative military projects. Domestic firms, such as AVIC (Aviation Industry Corporation of China) are expanding their production capabilities to meet both national demand and export opportunities. As geopolitical dynamics evolve, China's commitment to militarization and innovation continue to drive growth in military aircraft manufacturing.
Category-wise Analysis
Several products and services are available for ensuring the government and other institutions consisting of all the features available to them handy, few of the major product and services, includes aircraft parts, avionics and electronics systems, and missiles for killing everyone.
Which Products and Services are Becoming Huge Revenue Segment for Manufacturers?
“Aircraft Parts More Demanding Compared to Missiles and Avionics”
| Attribute | Aircraft and Parts |
|---|---|
| Segment Value (2024E) | US$ 153.21 Billion |
| Growth Rate (2024 to 2034) | 8.9% CAGR |
| Projected Value (2034F) | US$ 359.94 Billion |
The demand for aircraft and parts is surging, making it a significant revenue segment for manufacturers. This shift is largely due to the increasing investments in military and commercial aviation, as well as the need for maintaining aging fleets. Unlike other sectors, such as missiles and avionics, which experienced fluctuations, the consistent demand for aircraft parts ensures steady revenue streams. More manufacturers are focusing on innovative technologies and efficient production processes to meet this growing demand.
What Major Markets are Highly Investing in Military Aircraft?
“United States Significantly Spending Money in Buying Aircraft Parts”
| Attribute | United States Market |
|---|---|
| Segment Value (2024E) | US$ 127.07 Billion |
| Growth Rate (2024 to 2034) | 9.2% CAGR |
| Projected Value (2034F) | US$ 308.09 Billion |
The United States continues to be the leading market investing heavily in military aircraft. With a significant budget allocated for defense spending, the country remains committed to upgrading its military capabilities, reinforcing its dominance in global security. A considerable portion of this funding is directed toward purchasing advanced aircraft parts to enhance the performance and longevity of existing military fleets. The focus is not only on acquiring new aircraft but also on ensuring that current assets are equipped with the latest technology and components. Therefore, it is becoming a new military aircraft & aerospace manufacturing market trend.
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Market Competition
Key players in the military aircraft & aerospace manufacturing market are focusing on enhancing their features and technological capabilities leading to advances, such as military defense vehicles.
- Safran Data Systems, a part of Safran Electronics & Defense, acquired Captronic Systems, a regional company in India, in August 2022. Because of this, Safran Data Systems, a major player in the space industry, is growing its product line and fortifying its global operations in this strategically important country. It provides instrumentation for telemetry, testing, and communications with satellites, launch vehicles, and all kinds of remote platforms.
- JAMCO Corporation and SkyDrive Inc., a firm that is creating flying automobiles, announced in May 2022 that they had signed a Supporter Agreement. JAMCO will start the partnership by offering its development experts for aircraft interiors to SkyDrive.
Fact.MR provides detailed information about the price points of key manufacturers of military aircraft & aerospace manufacturing positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.
Segmentation of Military Aircraft & Aerospace Manufacturing Market Research
-
By Product & Service :
- Aircraft Parts
- Avionics & Electronic Systems
- MRO & Other Services
- Missiles
- Space Systems
-
By Major Market :
- United States
- Europe
- China
- Russia
- Other
-
By Region :
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Products And Services 6.2. Major Markets 7. Global Market Analysis and Forecast, By Products And Services 7.1. Aircraft and Parts 7.2. Avionics and Electronic Systems 7.3. Mro and Other Services 7.4. Missiles 7.5. Space Systems 8. Global Market Analysis and Forecast, By Major Markets 8.1. United States 8.2. Europe 8.3. China 8.4. Russia 8.5. Others 9. Global Market Analysis and Forecast, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. Asia Pacific 9.6. East Asia 9.7. MEA 10. North America Sales Analysis and Forecast, by Key Segments and Countries 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 14. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries 16. MEA Sales Analysis and Forecast, by Key Segments and Countries 17. Sales Forecast by Products And Services and Major Markets for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Lockheed Martin Corporation 19.2. Boeing Company 19.3. Northrop Grumman Corporation 19.4. Raytheon Technologies Corporation 19.5. General Dynamics Corporation 19.6. Airbus S.A.S. 19.7. Leonardo S.p.A. 19.8. Saab AB 19.9. BAE Systems plc 19.10. Textron Inc.
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- FAQs -
How big is the military aircraft & aerospace manufacturing market in 2024?
The global market for military aircraft & aerospace manufacturing is estimated at US$ 339.6 billion in 2024.
What is the demand value for military aircraft & aerospace manufacturing in the United States?
Demand for military aircraft & aerospace manufacturing in the United States is approximated at US$ 141.73 billion in 2024.
What is the projected CAGR for the global market through 2034?
The global market is forecasted to advance at a CAGR of 8.4% from 2024 to 2034.
Who are the leading military aircraft & aerospace manufacturing manufacturers?
Leading manufacturers of military aircraft & aerospace manufacturing are Airbus SAS, The Boeing Company, and Saab AB.
What are the projections for the sales of missiles?
The global demand for missiles is projected to advance at a CAGR of 6.6% and reach US$ 63.38 billion worth by 2034.
How is the market for military aircraft & aerospace manufacturing escalating in Japan?
The market in Japan is analyzed to expand at 5% CAGR through 2034.
Military Aircraft & Aerospace Manufacturing Market