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New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Military Transport Aircraft Global Market Report 2022' -
The global military transport aircraft market is expected to grow from $27.20 billion in 2021 to $28.56 billion in 2022 at a compound annual growth rate (CAGR) of 5.01%. The military transport aircraft market is expected to reach $37.15 billion in 2026 at a CAGR of 6.79%.
The military transport aircraft market consists of sales of the military transport aircraft by entities (organizations, sole traders, and partnerships) that refers to a military-owned transport aircraft used to support military operations by performing multi-role duties such as aerial refuelling, intelligence-gathering, rescue missions, transporting military cargo & military troops, military vehicles, and others.Military transport aircraft have a huge cargo storage space in which a wide range of things can get stored.
In addition, these aircraft are designed to carry military tanks, small trucks, and armed vehicles from military base stations to war sight or other required locations without much human effort.
The main types of military transport aircraft are fixed wings and rotorcraft.Fixed wings aircraft refers to propeller-driven or jet engine powered aircraft whose wings do not move.
These are more commonly used for longer travel distances than rotary-wing aircraft cover because they can go further before needing to refuel.The different payloads of these aircraft include below 50 tons, 51 tons to 100 tons, 101 tons and above.
The various application of military transport aircraft includes transportation, emergency services, combat operation, command and control, surveillance, intelligence and reconnaissance.
North America was the largest region in the military transport aircraft market in 2021. The regions covered in the military transport aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The military transport aircraft market research report is one of a series of new reports that provides military transport aircraft market statistics, including military transport aircraft industry global market size, regional shares, competitors with a military transport aircraft market share, detailed military transport aircraft market segments, market trends and opportunities, and any further data you may need to thrive in the military transport aircraft industry. This military transport aircraft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The rise in demand for rotorcraft airplanes is expected propel the growth of the military transport aircraft market in the forecast period.With increasing tension between various global nations, countries strive to enhance their aerial combat and support capabilities during war or enemy attacks.
Such countries plan to upgrade their military rotorcraft airplane fleet with highly functional and advanced aircraft to increase their military dominance. For instance, in September 2021, the Indian Ministry of Defence announced the procurement of fifty-six C-295MW transport aircraft from M/s Airbus Defence and Space S.A., Spain, for the Indian Air Force. This C-295MW aircraft is a transport aircraft with 5-10 Tonne capacity that has contemporary technology, which will replace the aging Avro aircraft of IAF. Therefore the rise in demand for rotorcraft airplanes is driving the growth of the military transport aircraft market.
Rapid technological advancements in air transportation services are a key trend in military transport aircraft.Major companies operating in the military transport aircraft are focused on developing new technological solutions to strengthen their position in the military transport aircraft market.
These companies are implementing technology with futuristic, alternate travel modes by noting the growing prominence of the highly sophisticated AR/VR technology, AI, Big Data, Automation, Robotics, tech development, and others.For instance, in April 2022, Airbus SE, a manufacturer and seller of civil and military aerospace products developed next-generation systems-of-systems architecture named Future Combat Air System (FCAS).
It uses a high-tech Multi-Domain Combat Cloud (MDCC) – a decentralized, cyber-resilient, collaborative information network using cloud-based technologies.
In January 2022, Leonardo, an Italy-based aerospace company acquired Hensoldt for €606 Million.With this acquisition, Leonardo aims to establish a long-term strategic presence in the fast-growing German defense market to strengthen the long-standing partnership and satisfy the most advanced requirements of international and domestic customers in the air, naval and land domains.
Hensoldt is a German-based company that focuses on sensor technologies for protection and surveillance missions in the defense, security and aerospace sectors.
The countries covered in the military transport aircraft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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