Fighter Aircraft Sector: Growth Drivers and Challenges
Growth Drivers
Augmentation of Existing Aircraft Fleet
Many countries are striving in augmenting their aircraft combat capabilities and upgrading their older generation aircraft such as Mig-21, F-194 and others with newer generation such as F-22, Sukhoi Su-35 and others aircraft having advanced features. Factors such as technology advancement in stealth mode, hypersonic speed, and armory precision are estimated to support the development of a fighter aircraft market.
More Air Support in War-Ravaged Countries
Fighter aircraft are tending to play a crucial role in war-ravaged countries such as Iraq, Afghanistan, Syria, and countries experiencing warfare such as Ukraine, Yemen, and the Democratic Republic of Congo which is anticipated to support the growth of fighter aircraft market over the forecast period.
Challenges
Adoption of Unmanned Aerial Vehicles
The development of unmanned aerial vehicles such as drones, rotor wings, and armed rotorcraft are expected to act as a restraint for the growth of the fighter aircraft market.
Budget Constraints
The budget constraints of a few smaller countries are restraining them to upgrade their aircraft fleet to new generation aircraft, which is anticipated to restrict the growth of the global fighter aircraft market.
Fighter Aircraft Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
3.5% |
|
Base Year Market Size (2024) |
USD 48.71 billion |
|
Forecast Year Market Size (2037) |
USD 76.18 billion |
|
Regional Scope |
|
