MILITARY TRAINER AIRCRAFT MARKET DEVELOPMENT TRENDS AND GROWTH


The global military trainer aircraft market size was USD 26.16 billion in 2022. The market is poised to surge from USD 26.98 billion in 2023 to USD 37.68 billion by 2030, exhibiting a CAGR of 4.89% over the forecast period.  

The aircraft are used in military aviation for imparting training for the effective operation of advanced aircraft. The market expansion is being impelled by the growing demand for trained personnel for operating the expanding fleet size of armed forces across the globe.

Fortune Business Insights™ provides this information in its research report, titled “Military Trainer Aircraft Market, 2023-2030”.

Informational Source:

 https://www.fortunebusinessinsights.com/military-trainer-aircraft-market-108788

List of Key Players Mentioned in the Report:

  • Embraer S.A. (Brazil)
  • Textron Inc. (U.S.)
  • Airbus SE (France)
  • The Boeing Company (U.S.)
  • Leonardo SpA (Italy)
  • United Aircraft Building Corporation (Russia)
  • Bae Systems plc (U.K.)
  • Lockheed Martin Corporation (U.S.)
  • Pilatus Aircraft (Switzerland)
  • Saab AB (Sweden)
  • Piper Aircraft Inc. (U.S.)
  • Bombardier Inc. (Canada)
  • General Dynamics Corporation (U.S.)
  • Northrop Grumman Corporation (U.S.)
  • GE Aviation (U.S.)
  • Dassault Aviation SA (France)

Russia-Ukraine War Impact:

Surge in Market Size Owing to Rising Government Expenditure on Product Procurement

The war led to an increase in the overall spending by governments on securing military trainer aircraft. The war also recorded the deployment of advanced trainers and the growing demand for combat aircraft training. These factors favored industry expansion to a considerable extent.

Segmentation:

Air Forces Segment Accounted for Leading Share Driven by Growing Procurement of Advanced Aircraft

By end-user, the market is segmented into land forces, naval forces, and air forces. The air forces segment held a major share in the market in 2022 and is anticipated to register the highest CAGR during the forecast period. The rise can be attributed to the rising procurement of advanced aircraft considering the budding terrorism and escalating need for advanced training.  

Fixed Wing Segment Registered Prominent Share Due to Low Purchase Cost

On the basis of type, the market is fragmented into rotary-wing and fixed-wing. The fixed-wing segment recorded the key market share in 2022 and is poised to grow at the highest CAGR over the study period. The surge is due to the growing product preference on account of low costs of purchase and operation.

Aftermarket Segment Held Dominant Share Driven by High Retirement Age of Military Trainer Aircraft

By solution, the market is categorized into aftermarket and OEM. The aftermarket segment accounted for a leading share of the market in 2022 due to the high age of retirement of military trainer aircraft.

Basic & Intermediate Pilot Training Segment Held Major Share Impelled by Surging Number of Airmen

By training type, the market is subdivided into basic & intermediate pilot training, combat training, and advanced pilot training. The basic & intermediate pilot training segment held a key market share in 2022. This was due to extensive training initiation from initial and intermediate trainers and a surge in the number of airmen.

By geography, the market for military trainer aircraft has been analyzed across North America, Asia Pacific, Europe, and the rest of the world.

Report Coverage:

The report provides an overview of the key trends in the market. It also covers the vital initiatives undertaken by leading market players in strengthening their industry footholds. The report also gives an insight into the prominent driving and restraining factors.

Drivers and Restraints:

Soaring Fleet Modernization to Impel Industry Expansion

The training of budding pilots requires the transition from pre-existing aircraft to advanced fleet. This has been a major factor driving fleet modernization with advanced aircraft, further boosting military trainer aircraft market growth.

However, the rising usage of UAVs for numerous regular and combat missions may restrain the industry growth.   

Regional Insights:

North America to Record Leading Share as U.S. is the Largest Product Procurer

North America is slated to hold a major share of the global market. This can be credited to the military forces of the U.S. The agencies are the largest procurers of trainer aircraft at the global level.  

Europe registered a significant military trainer aircraft market share in 2022. This can be attributed to the expanding aviation industry in the region.  

Competitive Landscape:

Companies Enter Partnerships to Maintain their Market Positions

The market has numerous global and regional market players. Major industry participants are entering partnerships and acquiring other companies to maintain their market positions. These companies are also considering the rollout of new products, as part of strategies to consolidate their industry positions.

Key Industry Development:

April 2023 – Northrop Grumman Corporation shared plans to partner with Lockheed Martin Skunk Works, Long Wave Inc., Crescent Systems, Inc., and Raytheon Intelligence & Space. Together, the companies would develop a solution for the E-XX TACAMO requirement of the U.S. Navy.


Created: 31/01/2024 07:28:39
Page views: 34
CREATE NEW PAGE