IMARC Group has recently released a new research study “Military Transport Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the military transport aircraft industry?
The global military transport aircraft market size reached US$ 32.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 38.6 Billion by 2028, exhibiting a growth rate (CAGR) of 2.9% during 2023-2028.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What is the military transport aircraft market?
Military transport aircraft represent specially designed fixed and rotary-wing cargo aircraft utilized for delivering troops, vehicles, weapons, personnel, and army supplies during military operations. They have huge cargo space and are mostly available in below 50 tons, 51 tons-100 tons, and 101 tons and above payload categories.
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These military transport aircraft models support military operations by performing multi-role duties, including rescue missions, aerial refueling, rescue missions, intelligence-gathering, etc.They even play a crucial role in maintaining supply lines to several locations inaccessible by sea or land and are employed for both strategic and tactical operations. Consequently, military transport aircraft variants find widespread applications in transportation, combat operations, emergency services, surveillance, reconnaissance, etc.
What are the major market drivers in the military transport aircraft market:
The growing global tension among neighboring countries and the increasing inclination toward enhancing aerial combat and support capabilities during enemy attacks or war are primarily driving the military transport aircraft market.
Additionally, the escalating employment of rotorcraft airplanes to conduct tactical airlifts, airdrop missions, transport ambulatory patients during aeromedical evacuations, etc., is also positively influencing the global market.
Moreover, the introduction of various advanced products by the leading market players that facilitate superior agility, higher speed, efficient maneuverability, and a high survival rate in adverse weather conditions is acting as another significant growth-inducing factor. In line with this, the elevating integration of state-of-the-art communication systems to ensure the transfer of real-time data of cargo to the specialists at the air traffic control (ATC) is further stimulating the market growth. Besides this, the inflating expenditure by government bodies on upgrading their existing transport aircraft with new-generation features and technologies and the rising defense budgets are expected to bolster the military transport aircraft market in the coming years.
Who are The Major Key Players in Military Transport Aircraft Market?
The Major Players include Airbus SEAviation Industry Corporation of China Ltd.Embraer S.A.Hindustan Aeronautics LimitedKawasaki Heavy Industries Ltd.Leonardo S.p.A.Lockheed Martin CorporationTextron Inc. and The Boeing Company
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Aircraft Type:·
Fixed Wings· Rotorcraft
Breakup by Payload:·
Below 50 Tons· 51 Tons to 100 Tons· 101 Tons and Above
Breakup by Application:·
Troop Airlifting· Cargo Supply· Others
Breakup by End User:·
Hospital· Physician's Office· Others
By Geography:•
North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
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