Global Combat Aircraft Market to Exceed $101 Billion by 2026
January 14, 2019 | Frost & SullivanEstimated reading time: 2 minutes
Renewed emphasis on stealth, sensor fusion, MUM-T, and active protection systems will ignite new growth opportunities, finds Frost & Sullivan.
The global combat aircraft market is set for rapid growth. Geographical instability, territorial and border disputes, and the need to replace ageing fleets with modern fourth-/fifth-generation multirole fighters that have longer ferry range, higher payload capacity, and better survivability against integrated air defence networks are key factors fuelling a phenomenal CAGR of 39% to 2026. Frost & Sullivan anticipates planned and perceived modernization and procurement opportunities in the market to exceed $101 billion and revenues to reach $493.14 billion by 2026.
“Geopolitics aside, the combat fleet in many countries such as India, Vietnam, and Malaysia are reaching obsolescence fast and replacements must be procured to ensure that power projection capabilities of these countries are maintained. There is a global renewed emphasis on stealth, sensor fusion, manned-unmanned teaming (MUM-T) capability, and active protection system upgrades,” said Arjun Sreekumar, industry analyst, Defense at Frost & Sullivan. “To harness lucrative growth opportunities, players should offer a combination of low-cost platforms, aggressive marketing, and flexible payment mechanisms.”
Growth opportunities from a regional perspective include:
- Geopolitical issues necessitate new procurement and modernization in the Middle East in countries such as Qatar, Saudi Arabia, and the United Arab Emirates
- Modernization of existing systems or procurement of second-hand aircraft rather than pursuing expensive acquisition programs in former Soviet bloc countries and other developing countries with smaller economies or low economic growth
- Collaborative new platforms planned in Europe (Franco-German next-generation fighter) and the Asia-Pacific region (Japan and Indonesia)
- Russia and China modernising quickly and phasing out outdated inventory
- The United States seeking several upgrade programs for its current combat aircraft inventory to extend service lives into the 2030s, until the F-35 and new fifth-/sixth-generation multirole fighters can be procured
“Older generation combat aircraft will find future air combat environments challenging in the face of new air and ground-based sensors and weapons capabilities, increased digitalisation of battlespace, and forces moving towards collaborative network-centric operations,” noted Sreekumar. “The installation of new generation electronic countermeasures will be a minimum survival requirement in a rapidly evolving environment.”
Frost & Sullivan’s recent analysis, Global Combat Aircraft Market, Forecast to 2026, covers the global market for new aircraft and upgrades specific to combat aircraft. It lists the key aircraft fielded by different countries based on their mission and types and traces their upgrade evolution. Segments such as strike, fighter, and multirole fighter across fixed-wing aircraft types are assessed with market share and the competitive environment discussed for players such as Lockheed Martin, Boeing, Dassault Aviation, Saab, Eurofighter Jadflugzeug GMBH, Mikoyan MiG, and Sukho. Revenues are broken down by new procurements, upgrades, regions, and combat aircraft types.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success.
Suggested Items
IDC Forecasts Slower Growth for Global Telecommunications Services Market: Could AI Help Telcos to Maintain Healthy Margins?
05/08/2024 | IDCWorldwide spending on Telecom Services and Pay TV Services reached $1,509 billion in 2023, an increase of 2.1% over 2022, according to the International Data Corporation (IDC) Worldwide Semiannual Telecom Services Tracker.
Simbe Partners with Plexus to Scale Manufacturing and Meet Global Retail Demand
05/08/2024 | Globe NewswireSimbe, the leading provider of Store Intelligence™ solutions that increase retailer performance through unprecedented visibility and insights, today announced a partnership with Plexus Corp. to bring its best-in-class retail robotics-as-a-service to market quickly and at global scale.
IDTechEx Discusses Low-Loss Materials: The Enabler of Future Connected Vehicles?
05/06/2024 | IDTechExFuture connected vehicles will offer future drivers a safer, smoother, and more convenient driving experience. Not only will drivers get access to more navigation and entertainment options, but they will also gain access to safety technologies that will potentially reduce accidents, improve congestion, and reduce emissions globally by allowing vehicle safety systems to communicate with each other and with city traffic infrastructure.
HBM Prices to Increase by 5–10% in 2025, Accounting for Over 30% of Total DRAM Value
05/06/2024 | TrendForceAvril Wu, TrendForce Senior Research Vice President, reports that the HBM market is poised for robust growth, driven by significant pricing premiums and increased capacity needs for AI chips.
Tablet Shipments Show Signs of Recovery in Q1 2024
05/06/2024 | IDCAfter more than two years of decline, worldwide tablet shipments posted modest year-over-year growth of 0.5% in the first quarter of 2024 (1Q24), totaling 30.8 million units, according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker.