DUBLIN, Feb. 23, 2021 /PRNewswire/ -- The "Special Mission Aircraft Market by Platform (Military Aviation, Commercial Aviation, UAV), by Application (ISR, Command and Control, Combat Support, Air-Launch/Rocket Launch) by Payload, by End-User, by Point of Sale, and by Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global special mission aircraft market size is projected to grow from USD 13.5 billion in 2020 to USD 18.3 billion by 2025, at a CAGR of 6.2% from 2020 to 2025. The market is driven by various factors, such as increasing usage of UAVs in military operations, growing need for air-to-air refueling to support overseas deployment, and rise in demand for emergency medical service helicopters.
The special mission aircraft market includes major players Boeing (US), Lockheed Martin (US), Dassault Aviation (France), Textron Aviation (US) and Northrop Grumman (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and South America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect special mission aircraft production and services by 7-10% globally in 2020.
The military aviation segment is expected to be the largest market by value. The growth of the military aviation segment of the special mission aircraft market can be attributed to the growing demand for special mission aircraft for usage in various special missions carried out by the military forces such as reconnaissance and surveillance operations.
Based on application, the air-launch/rocket launch segment is projected to be the highest CAGR rate for the special mission aircraft market during the forecast period. These special mission aircraft are provided with capabilities to carry out missions related to releasing a rocket, missile, or other aircraft payloads. The payload is often tucked under the wing of the launch aircraft.
Based on the payload type, the sensors segment is projected to be the highest CAGR rate for the special mission aircraft market during the forecast period. The optical sensors are used for military or law enforcement applications that include both visible and infrared sensors. EO/IR systems provide total situational awareness during day and night and in low light conditions. Many types of radar are used in aviation, such as area radars, surveillance radars, and approach radars. ELINT sensors support multiple operational applications such as ESM for situational awareness and real-time creation of EOB (Electronic Order of Battle), Early Warning, Passive Air Situation Picture, and in-depth analysis of the intercepted signals.
Based on the end-user, the defense segment is projected to be the highest CAGR rate for the special mission aircraft market during the forecast period. Military special mission aircraft are used for ground attack missions, air-to-air combat, and maritime/naval attack by defense forces worldwide. Various federal law enforcement agencies around the world such as the National Security Agency (NSA) (US), Federal Security Service (FSB) (Russia), National Security Council (NSC) (India), and Ministry of State Security (MSS) (China), among others, are using special mission aircraft for intelligence, surveillance, and reconnaissance (ISR) and border protection activities.
North America is projected to be the largest regional share for the special mission aircraft market during the forecast period. The US is one of the largest developers, operators, and exporters of special mission aircraft and systems, globally, and thus accounts for a large share of the North American region in the global special mission aircraft market.
North American countries it is home to prominent players manufacturing a wide range of technologically improved avionics systems and aircraft components. Leading aircraft manufacturers, such as the Boeing Company and Textron Inc., and major aircraft system and component manufacturers, such as Honeywell Aerospace, Inc., Collins Aerospace, UTC Aerospace Systems, Woodward, Inc., and Moog Inc., are headquartered in the US.
As per the Stockholm International Peace Research Institute (SIPRI), the US was the leading military spender in 2019, at USD 732 billion, which was as much as the next eight top military spender countries in 2019. Military contracts acquired by US companies such as Boeing and Lockheed Martin have generated substantial revenue for this region in the market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Special Mission Aircraft Market, by Platform
8 Special Mission Aircraft Market, by Application
9 Special Mission Aircraft Payload Market, by Type
10 Special Mission Aircraft Market, by End-User
11 Special Mission Aircraft Market, by Point of Sale
12 Regional Analysis
13 Competitive Landscape
14 Company Profiles
- Aerovironment, Inc.
- Airbus Se
- BAE Systems
- Bombardier Inc.
- Butler National Corporation
- Dassault Aviation Sa
- Elbit Systems Ltd.
- General Atomics Aeronautical Systems, Inc.
- Gulfstream Aerospace Corporation
- GVH Aerospace
- Israel Aerospace Industries Ltd.
- Kratos Defense & Security Solutions, Inc.
- L3 Harris Technologies, Inc.
- Leonardo Spa
- Lockheed Martin Corporation
- Lufthansa Technik Ag
- Northrop Grumman Corporation
- Pilatus Aircraft Ltd.
- Raytheon Technologies Corporation
- Ruag International Holding Ag
- Saab Ab
- Textron Aviation Inc.
- Thales Sa
- The Boeing Company
- Vox Space
For more information about this report visit https://www.researchandmarkets.com/r/nfgbgv
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