Overview and Scope
Military transport aircraft refers to a military-owned transport aircraft used to support military operations by performing multi-role duties such as aerial refueling, intelligence-gathering, rescue missions, transporting military cargo & military troops, military vehicles, and others. Military transport aircraft have a huge cargo storage space in which a wide range of things can get stored. In addition, these aircraft are designed to carry military tanks, small trucks, and armed vehicles from military base stations to war sight or other required locations without much human effort.
Sizing and Forecast
The military transport aircraft market size has grown rapidly in recent years. It will grow from <b>$32.8 billion in 2023 to $36.23 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. </b> The growth in the historic period can be attributed to strategic airlift capability, humanitarian missions, tactical mobility, troop and cargo transport, aerial refueling.
The military transport aircraft market size is expected to see strong growth in the next few years. It will grow to <b>$51.8 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. </b> The growth in the forecast period can be attributed to autonomous cargo handling, sustainability initiatives, medical evacuations, paratroop drops, joint operations. Major trends in the forecast period include electrification and hybrid propulsion, advanced avionics, modularity and payload flexibility, stealth and reduced radar signature, international collaborations and partnerships.
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Segmentation & Regional Insights
The military transport aircraft market covered in this report is segmented –
1) By Aircraft Type: Fixed Wings, Rotorcraft
2) By Payload: Below 50 Tons, 51 Tons To 100 Tons, 101 Tons And Above
3) By Application: Transportation, Emergency Services, Combat Operation, Command And Control, Surveillance, Intelligence And Reconnaissance
<b>North America</b> was the largest region in the military transport aircraft market in 2023. <b>Middle East</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the military transport aircraft market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rise in demand for rotorcraft airplanes is expected to propel the growth of the military transport aircraft market in the forecast period. With increasing tension between various global nations, countries strive to enhance their aerial combat and support capabilities during war or enemy attacks. Such countries plan to upgrade their military rotorcraft airplane fleet with highly functional and advanced aircraft to increase their military dominance. For instance, in September 2021, the Indian Ministry of Defence announced the procurement of fifty-six C-295MW transport aircraft from M/s Airbus Defence and Space S.A., Spain, for the Indian Air Force. This C-295MW aircraft is a transport aircraft with a 5-10 tonne capacity that has contemporary technology, which will replace the aging Avro aircraft of IAF. Therefore, the rise in demand for rotorcraft airplanes is driving the growth of the military transport aircraft market.
Key Industry Players
Major companies operating in the military transport aircraft market include <b> Airbus SE, Textron Aviation Inc., Rostec Corp., Lockheed Martin Corporation, Embraer SA, Boeing Company, Northrop Grumman Corporation, Leonardo S.p.A., Ukrainian Aircraft Corporation, Ilyushin Aviation Complex, Alenia Aermacchi SpA, Kawasaki Heavy Industries Ltd., EADS CASA, Shaanxi Aircraft Corporation, United Aircraft Corporation, Hindustan Aeronautics Limited, Bombardier Inc., Antonov Corporation, China Aviation Industry Corporation, Israel Aerospace Industries Ltd., Chengdu Aircraft Corporation, Aircraft Industries Ltd., CNIM Air Space, Boeing Defense Space & Security, Taqnia Aeronautics, Collins Aerospace, Hellenic Aerospace Industry SA, Korea Aerospace Industries SA, Pakistan Aeronautical Complex, ST Engineering Aerospace </b>
The military transport aircraft market report table of contents includes:
1. Executive Summary
2. Military Transport Aircraft Market Characteristics
3. Military Transport Aircraft Market Trends And Strategies
4. Military Transport Aircraft Market – Macro Economic Scenario
5. Global Military Transport Aircraft Market Size and Growth
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31. Global Military Transport Aircraft Market Competitive Benchmarking
32. Global Military Transport Aircraft Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Military Transport Aircraft Market
34. Military Transport Aircraft Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Airbus SE
Textron Aviation Inc.
Rostec Corp
Lockheed Martin Corporation
Embraer SA
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