Special Mission Aircraft Market worth $19.9 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, June 3, 2022 /PRNewswire/ -- According to a research report "Special Mission Aircraft Market by Platform (Military Aviation, Commercial Aviation, UAV), Application (ISR, Command and Control, Combat Support, Air-Launch/Rocket Launch), Payload Type, End-User, Point of Sale and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Special Mission Aircraft market is projected to grow from USD 15.9 billion in 2022 to USD 19.9 billion by 2027 at a CAGR of 4.6 %.
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Special mission aircraft are specifically designed or developed to accomplish a specific role by utilization of advanced onboard equipment or specialized trait. Special mission aircraft are used to support and enhance the effectiveness of air, naval, and ground forces engaged in combat operations as well as non-combat operations against the enemy.
The special mission aircraft market includes various platforms such as commercial aviation, military aviation, and unmanned aerial vehicles (UAV). The report covers the use of special mission aircraft across commercial and military applications such as ISR, combat support, command and control, emergency services, transportation, air launch/rocket launch, and scientific research and geological survey, among others. It also covers special mission aircraft payloads such as sensors, communication suite, protection suite, and others.
Application segment is estimated to be the largest and fastest growing market
Special mission aircraft are used for various special missions carried out by the military forces such as reconnaissance and surveillance operations. These aircraft are used for either strategic or tactical purposes. The US military is the highest investor military reconnaissance & surveillance aircraft when compared to European countries such as France, Germany, and Russia. The growth of the special mission aircraft market in this segment is driven by the increasing investments in developing efficient and reliable aircraft systems for special missions.
Various federal law enforcement agencies around the world using special mission aircraft expected to result in the segment occupying majority of the special mission aircraft market share
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. Special mission aircraft are extensively used by these agencies for critical missions and have resulted in saving countless lives. The increasing threats from terrorist activities have made it imperative to adopt and use special mission aircraft on a wider scale, thus resulting in the growth of the special mission aircraft market during the forecast period.
Browse in-depth TOC on "Special Mission Aircraft Market"
416 – Tables
55 – Figures
325 – Pages
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North America likely to emerge as the largest special mission aircraft market
The US is leading the special mission aircraft market in North America. Special Mission Aircraft are those platforms specifically developed to undertake an over-battlefield role by utilization of advanced onboard equipment or specialized trait. Examples include Airborne Early Warning (AEW), Maritime Patrol Aircraft (MPA), and Electronic Warfare (EW) platforms. It is a leading contributor to the aerospace industry as 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.
The Boeing Company (US), Lockheed Martin (US), Dassault Aviation SA (France), Textron Aviation (US), and Northrop Grumman Corporation (US) are the key players in the global special mission aircraft market.
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