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Military Transport Aircraft Market was at US$ 29.4 Bn in 2021 and is growing to approx US$ 45.4 Bn by 2030, with a CAGR growth of 4.8% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, November 21, 2022 /EINPresswire.com/ -- According to the study, The Global Military Transport Aircraft Market was estimated at USD 29.4 Billion in 2021 and is anticipated to reach around USD 45.4 Billion by 2030, growing at a CAGR of roughly 4.8% between 2022 and 2030.

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Military Transport Aircraft Market: Overview

Military transport aircraft is an essential component in warfighting operations to ensure the delivery of weapons, troops, and other military equipment. In addition, such aircraft perform intelligence-gathering, aerial refueling, and rescue missions coupled with an extensive range of mission-critical tasks. As a result, spending on military transport aircraft is growing rapidly across the globe as many countries invest considerable sums in the procurement of defense equipment. For instance, in February 2022, the defense ministry of Serbia finalized its deal of about $91 million to acquire two C-295 medium tactical transport aircraft manufactured by Construcciones Aeronautics, a subsidiary of Airbus.

Military Transport Aircraft Market: Growth Drivers

Demand for transport aircraft in the military sector is projected to increase rapidly in upcoming years to support military operations. In addition, there is rising adoption of smaller cargo aircraft to transport military communications equipment. Also, military transport aircraft development by major industry players is mainly focused on designing solutions with higher airlift capability to carry heavy cargo such as large-size vehicles and battle tanks. Such factors are fueling the growth of the market.

Moreover, many countries are actively procuring military aircraft to meet the demand for transport aircraft that conduct multi-role operations in all-weather and year-round conditions. For example, in November 2021, the Y-20 transport aircraft of the Chinese People’s Liberation Army (PLA) Air Force delivered items of recently developed 160,000 sets of cold-resistant equipment and clothing to Chinese border defense troops stationed in the plateau regions.

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Key Insights:

A) As per the analysis shared by our research analyst, the Military Transport Aircraft market is estimated to grow annually at a CAGR of around 4.8% over the forecast period (2022-2030).
B) In terms of revenue, the Military Transport Aircraft market was valued at around USD 29.4 Billion in 2021 and is projected to reach USD 45.4 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on aircraft type segmentation, the Fixed-wing aircraft segment is estimated to hold the largest market share during the forecast period.
D) Based on application segmentation, the Troop Airlifting segment is the leading revenue-generating category during the forecast period.
E) Based on geography/region, the North American area was the leading revenue generator in 2021.

Press Release For Military Transport Aircraft Market : https://www.custommarketinsights.com/press-releases/military-transport-aircraft-market-size/

Regional Landscape

North America held a dominant position and is predicted to dominate during the forecast period in military transport aircraft market. Increasing defense spending across the U.S. primarily fuels the market’s growth in this region. For instance, in 2020, U.S. military spending reached $778 billion, with an increase of about 4.4% compared to the expenditure in 2019. On the other hand, continuing research and development in the military aircraft sector is opportunistic for the growth of the market in the region. For instance, in September 2020, the U.S. Air Force secretly designed and flew a prototype of its enigmatic next-generation fighter jet. However, the Asia-Pacific region is expected to witness the highest growth rate during the forecast period.

The market growth in this region is mainly driven by an increased emphasis on the procurement of military aircraft by India and China to strengthen their military capabilities. For instance, in January 2021, India planned to procure 56 medium military transport aircraft worth about $2.5 billion to reinforce the Indian Air Force (IAF) capabilities.

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Key Players

Airbus S.A.S.
Leonardo SpA
Lockheed Martin Corporation
Embraer SA
Boeing
Bell Textron Inc.
Northrop Grumman
Kawasaki Heavy Industries Ltd
GE Aviation
ANTONOV COMPANY

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The Military Transport Aircraft Market is segmented as follows:

By Aircraft Type

Fixed-wing Aircraft
Rotorcraft

By Application

Troop Airlifting
Cargo Supply
Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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