Special Mission Aircraft Market Size to Surpass USD 26.5 billion by 2031 at Sustained CAGR of 5.9%

Special Mission Aircraft Market

Increase in demand for drones and industry-specific solutions, & rise in spending to procure defense equipment globally, rise in adoption of autonomous aircraft

PORTLAND, OR, US, February 8, 2024 /EINPresswire.com/ -- Special Mission Aircraft Market by Application (Intelligence, Surveillance, and Reconnaissance (ISR), Command and Control, Communication and Navigation, Others), by Platform (Military Aviation, Commercial Aviation, Unmanned Aerial Vehicle), by End-User (Defence, Commercial and Civil, Space), by Point of Sale (OEM, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global special mission aircraft industry generated $15.3 billion in 2021, and is projected to reach $26.5 billion by 2031, growing at a CAGR of 5.9% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A09240

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.

Drivers, Restraints, and Opportunities

Increase in demand for drones and industry-specific solutions, and rise in spending to procure defense equipment globally, rise in adoption of autonomous aircrafts, and increase in demand for air-to-air refueling are expected to drive the growth of the global special mission aircraft market. On the other hand, lack of skilled and trained personnel is expected to hinder the growth to some extent. However, extensive applications of mission-specific systems for conducting search-and-rescue, maritime patrol, medical evacuation, VIP transportation, and other duties are expected to create ample opportunities for the industry.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

The key players that operate in this special mission aircraft market are 𝐁𝐀𝐄 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐏𝐥𝐜., 𝐁𝐨𝐦𝐛𝐚𝐫𝐝𝐢𝐞𝐫, 𝐃𝐚𝐬𝐬𝐚𝐮𝐥𝐭 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧, 𝐄𝐥𝐛𝐢𝐭 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐋𝐭𝐝., 𝐆𝐞𝐧𝐞𝐫𝐚𝐥 𝐀𝐭𝐨𝐦𝐢𝐜𝐬, 𝐈𝐬𝐫𝐚𝐞𝐥 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 𝐋𝐭𝐝. (𝐈𝐀𝐈), 𝐊𝐫𝐚𝐭𝐨𝐬 𝐃𝐞𝐟𝐞𝐧𝐬𝐞 & 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬, 𝐈𝐧𝐜., 𝐋𝐞𝐨𝐧𝐚𝐫𝐝𝐨 𝐒.𝐩.𝐀., 𝐋𝐨𝐜𝐤𝐡𝐞𝐞𝐝 𝐌𝐚𝐫𝐭𝐢𝐧 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐍𝐨𝐫𝐭𝐡𝐫𝐨𝐩 𝐆𝐫𝐮𝐦𝐦𝐚𝐧 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐑𝐚𝐲𝐭𝐡𝐞𝐨𝐧 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐒𝐚𝐚𝐛 𝐀𝐁, 𝐓𝐞𝐱𝐭𝐫𝐨𝐧 𝐈𝐧𝐜., 𝐓𝐡𝐚𝐥𝐞𝐬 𝐆𝐫𝐨𝐮𝐩, 𝐚𝐧𝐝 𝐓𝐡𝐞 𝐁𝐨𝐞𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐲.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/special-mission-aircraft-market/purchase-options

Based on application, the intelligence, surveillance, and reconnaissance (ISR) segment held the largest market share in 2021, holding more than one-third of the global special mission aircraft market. In addition, the same segment is expected to cite the fastest CAGR of 6.7% during the forecast period. This is mainly due to increased demand for the acquisition of surveillance aircraft due to factors such as drug trafficking and deep-sea piracy.

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.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, the global special mission aircraft market across the Asia-Pacific region held the largest market share in 2021, holding more than one-third of the global market. In addition, the same segment is expected to cite the fastest CAGR of 6.6% during the forecast period. The growth is because of surge in defense expenditure across various countries in the Asia-Pacific region.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A09240

The report analyzes these key players in the global special mission aircraft market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By application, the Intelligence, Surveillance, and Reconnaissance (ISR) segment is expected to register a significant growth during the forecast period.

By platform, the military aviation segment is expected to register a significant growth during the forecast period.

By end-user, the defense segment is projected to lead the global special mission aircraft market.

By point of sale, the aftermarket segment is projected to lead the global special mission aircraft market

Region-wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Aircraft Manufacturing Market - https://www.globenewswire.com/news-release/2023/04/14/2647226/0/en/Aircraft-Manufacturing-Market-to-Garner-476-4-Billion-by-2031-Allied-Market-Research.html

Aircraft Micro Turbine Engine Market - https://www.globenewswire.com/news-release/2021/12/09/2348772/0/en/Aircraft-Micro-Turbine-Engine-Market-to-Generate-75-9-Million-in-2030-Allied-Market-Research.html

Aircraft Fuel Systems Market - https://www.prnewswire.com/news-releases/aircraft-fuel-systems-market-to-reach-15-7-billion-globally-by-2031-at-6-5-cagr-allied-market-research-301867967.html

Autonomous Aircraft Market - https://www.globenewswire.com/en/news-release/2022/08/05/2492994/0/en/Autonomous-Aircraft-Market-to-Garner-37-06-Billion-by-2031-Allied-Market-Research.html

David Correa
Allied Market Research
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