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Special Mission Aircraft Market Projected To Reach USD 26.5 Billion By 2031 THE BOEING COMPANY, LEONARDO SPA
(MENAFN- EIN Presswire)
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The special mission aircraft market is segmented into application, platform, end-user and point of sale. The application segment is further divided as intelligence, surveillance, and reconnaissance (ISR), command & control, communication & navigation, and others. By platform, the market is classified into military aviation, commercial aviation, and unmanned aerial vehicle. On the basis of end-user, it is divided into defense, commercial & civil, and space. By point of sale, it is segmented into OEM, and aftermarket. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include
LEONARDO SPA, BOMBARDIER INC, ELBIT SYSTEMS LTD, THE BOEING COMPANY, THALES SA, BAE SYSTEMS, KRATOS DEFENSE & SECURITY SOLUTIONS, INC., LOCKHEED MARTIN CORPORATION, TEXTRON AVIATION INC., GENERAL ATOMICS AERONAUTICAL SYSTEMS, INC, DASSAULT AVIATION SA, ISRAEL AEROSPACE INDUSTRIES LTD, SAAB AB, RAYTHEON TECHNOLOGIES CORPORATION, NORTHROP GRUMMAN CORPORATION
Prime determinants of growth:
The global special mission aircraft market size is expanding rapidly due to surge in demand for air-to-air refueling, growing adoption of autonomous aircraft, increase in expenditure to purchase defense equipment across the globe, and rise in demand for industry-specific solutions and drones. However, the scarcity of skilled and trained workforce restricts the market growth to some extent.
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There are prominent key factors that drive the growth of the special mission aircraft market such as increase in demand for drones, rise in demand for industry-specific solutions, and rise in spending to procure defense equipment globally. The market economy is also responsible for the growth of the market. Emerging countries in the region, such as India and China, are investing heavily in aerospace and defense industry, which is expected to provide lucrative opportunities for the growth of the special mission aircraft industry.
In terms of application, the intelligence, surveillance, and reconnaissance (ISR) segment contributed to the largest share in 2021, accounting for more than one-third of the overall market revenue. Also, the same segment is anticipated to display the fastest growth with 6.7% CAGR from 2022 to 2031. The growth is attributed to heightened demand for adoption of surveillance aircraft owing to factors like deep sea piracy and drug trafficking.
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On the basis of end-user, the defense segment gained the fastest share in 2021, accounting for around three-fourths of the overall market share. The same segment is expected to showcase the fastest CAGR of 6.2% throughout the forecast timeframe, owing to surge in usage of special mission aircraft in territorial and political disputes.
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In 2021, Asia-Pacific region is dominating the market in terms of revenue, followed by Europe, North America, and LAMEA. Initiatives taken by the governments toward the modernization of defense sector and rise in adoption of unmanned vehicles for various commercial applications in the region are expected to propel the growth of the special mission aircraft market during the forecast period.
Asia-Pacific to retain its dominance
The regional analysis in the report indicates that the Asia-Pacific region held the highest market share in 2021, contributing to more than one-third of the global market revenue. Also, the same region would cite the fastest growth with 6.6% CAGR throughout the forecast timeframe. The increase in defense spending among several countries in the Asia-Pacific region.
Check out more related studies published by AMR Research:
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Special Mission Aircraft Market
The global special mission aircraft market is expanding rapidly due to surge in demand for air-to-air refueling, growing adoption of autonomous aircraft
WILMINGTON, NEW CASTLE, DE, UNITED STATES, September 18, 2024 /EINPresswire / -- The Special Mission Aircraft Market report assesses the major participants in the global special mission aircraft market. These participants have employed vital business strategies, including introducing new products, strategic expansion, forming alliances, and engaging in joint ventures to boost their market presence and strengthen their industry position. The report aids the intended audience in evaluating market performance, the performance of individual market segments, product portfolio growth within the market, and the contributions made by each participant to the market's expansion.Request Sample Pages Now:
The special mission aircraft market is segmented into application, platform, end-user and point of sale. The application segment is further divided as intelligence, surveillance, and reconnaissance (ISR), command & control, communication & navigation, and others. By platform, the market is classified into military aviation, commercial aviation, and unmanned aerial vehicle. On the basis of end-user, it is divided into defense, commercial & civil, and space. By point of sale, it is segmented into OEM, and aftermarket. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include
LEONARDO SPA, BOMBARDIER INC, ELBIT SYSTEMS LTD, THE BOEING COMPANY, THALES SA, BAE SYSTEMS, KRATOS DEFENSE & SECURITY SOLUTIONS, INC., LOCKHEED MARTIN CORPORATION, TEXTRON AVIATION INC., GENERAL ATOMICS AERONAUTICAL SYSTEMS, INC, DASSAULT AVIATION SA, ISRAEL AEROSPACE INDUSTRIES LTD, SAAB AB, RAYTHEON TECHNOLOGIES CORPORATION, NORTHROP GRUMMAN CORPORATION
Prime determinants of growth:
The global special mission aircraft market size is expanding rapidly due to surge in demand for air-to-air refueling, growing adoption of autonomous aircraft, increase in expenditure to purchase defense equipment across the globe, and rise in demand for industry-specific solutions and drones. However, the scarcity of skilled and trained workforce restricts the market growth to some extent.
Buy Now the Exclusive Report:
There are prominent key factors that drive the growth of the special mission aircraft market such as increase in demand for drones, rise in demand for industry-specific solutions, and rise in spending to procure defense equipment globally. The market economy is also responsible for the growth of the market. Emerging countries in the region, such as India and China, are investing heavily in aerospace and defense industry, which is expected to provide lucrative opportunities for the growth of the special mission aircraft industry.
In terms of application, the intelligence, surveillance, and reconnaissance (ISR) segment contributed to the largest share in 2021, accounting for more than one-third of the overall market revenue. Also, the same segment is anticipated to display the fastest growth with 6.7% CAGR from 2022 to 2031. The growth is attributed to heightened demand for adoption of surveillance aircraft owing to factors like deep sea piracy and drug trafficking.
Get Customized Reports with you're Requirements:
On the basis of end-user, the defense segment gained the fastest share in 2021, accounting for around three-fourths of the overall market share. The same segment is expected to showcase the fastest CAGR of 6.2% throughout the forecast timeframe, owing to surge in usage of special mission aircraft in territorial and political disputes.
Interested to Procure the Research Report? Inquire Before Buying:
In 2021, Asia-Pacific region is dominating the market in terms of revenue, followed by Europe, North America, and LAMEA. Initiatives taken by the governments toward the modernization of defense sector and rise in adoption of unmanned vehicles for various commercial applications in the region are expected to propel the growth of the special mission aircraft market during the forecast period.
Asia-Pacific to retain its dominance
The regional analysis in the report indicates that the Asia-Pacific region held the highest market share in 2021, contributing to more than one-third of the global market revenue. Also, the same region would cite the fastest growth with 6.6% CAGR throughout the forecast timeframe. The increase in defense spending among several countries in the Asia-Pacific region.
Check out more related studies published by AMR Research:
Aircraft Manufacturing Market -
Aircraft Health Monitoring System Market -
Tethered Drone Market -
Jet Engines Market -
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