Fighter Aircrafts Industry Utilizes Automation For Increased Efficiencies

Fighter Aircrafts Global Market Report 2022– Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Fighter Aircrafts Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, February 21, 2022 /EINPresswire.com/ -- Military aircraft market trends include major players focusing on automation in the manufacturing line to reduce manufacturing time and labor costs. For instance, Airbus SE, a France-based multinational aerospace company engaged in designing, manufacturing, and selling military aircraft,

commercial aircraft, helicopters, satellites, and launch vehicles, acquired MTM Robotics, an industrial automation company for an undisclosed amount. The acquisition is aimed at expanding Airbus’s commitment to advanced robotics capabilities within the manufacturing process.

In April 2020, Raytheon Company, a USA-based technology company specializing in defense, homeland security, and other government markets merged with United Technologies Corporation for an undisclosed amount. The merged company which is newly formed is known as Raytheon Technologies Corporation and it will combine its predecessor’s legacy expertise in aeronautics, defense weapons, cybersecurity, and information technology across its four business segments including Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.

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The global military aircraft market size is expected to grow from $98.55 billion in 2021 to $102.81 billion in 2022 at a compound annual growth rate (CAGR) of 4.3%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The military aircraft global industry share is expected to reach $115.27 billion in 2026 at a CAGR of 2.9%.

Countries across the globe are striving to enhance their aerial combat capabilities for increased airborne security which has changed the military aircraft market outlook. The growing emphasis on airborne security is expected to boost the demand for fighter aircraft, thereby propelling the growth of the fighter aircrafts market. According to the Airforce Technology, in July 2020, the government of India approved the purchase of 33 fighter aircraft to strengthen its air force capabilities during the ongoing standoff with Chinese forces on the Line of Actual Control (LAC) in Ladakh. The acquisition was cleared by the Defense Acquisition Council (DAC) and included 12 Su-30 MKI and 21 MIG-29 aircraft. Moreover, the DAC also approved the modernization of 59 existing MIG-29 aircraft.

Major players covered in the global fighter aircrafts industry are Lockheed Martin Corporation, Airbus SE, The Boeing Company, BAE Systems, Russian Aircraft Corporation MiG, Saab, Dassault Aviation SA, PJSC Sukhoi Company, KAI, Hindustan Aeronautics Limited, Alenia Aermacchi, Shenyang Aircraft, United Aircraft Corporation, and Chengdu Aircraft Industrial Group Co. Ltd.

TBRC’s global fighter aircraft market report is segmented by type into conventional take-off and landing, short take-off and landing, vertical take-off and landing, by application into homeland security, defense, other, by system into airframe, engine, avionics, landing gear system, weapon system.

Fighter Aircrafts Global Market Report 2022 – By Type (Conventional Take-Off and Landing, Short Take-Off and Landing, Vertical Take-Off and Landing), By Application (Homeland Security, Defense), By System (Airframe, Engine, Avionics, Landing Gear System, Weapon System) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a fighter aircrafts market overview, fighter aircrafts market forecast, fighter aircrafts market size and fighter aircrafts market growth for the whole market, fighter aircrafts market segments, fighter aircrafts market geographies, fighter aircrafts market trends, fighter aircrafts market drivers, fighter aircrafts market restraints, fighter aircrafts market leading competitors’ revenues, profiles, and market shares.

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