According to the latest report by IMARC Group, titled “Military Transport Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global military transport aircraft market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global military transport aircraft market size reached US$ 32.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 38.6 Billion by 2028, exhibiting a growth rate (CAGR) of 2.9% during 2023-2028.
What is the military transport aircraft?
Military transport aircraft represent specially designed fixed and rotary-wing cargo aircraft utilized for delivering troops, vehicles, weapons, personnel, and army supplies during military operations. They have huge cargo space and are mostly available in below 50 tons, 51 tons-100 tons, and 101 tons and above payload categori
These military transport aircraft models support military operations by performing multi-role duties, including rescue missions, aerial refueling, rescue missions, intelligence-gathering, etc.They even play a crucial role in maintaining supply lines to several locations inaccessible by sea or land and are employed for both strategic and tactical operations. Consequently, military transport aircraft variants find widespread applications in transportation, combat operations, emergency services, surveillance, reconnaissance, etc.
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What are the major market drivers in the military transport aircraft market:
The growing global tension among neighboring countries and the increasing inclination toward enhancing aerial combat and support capabilities during enemy attacks or war are primarily driving the military transport aircraft market. Additionally, the escalating employment of rotorcraft airplanes to conduct tactical airlifts, airdrop missions, transport ambulatory patients during aeromedical evacuations, etc., is also positively influencing the global market.
Moreover, the introduction of various advanced products by the leading market players that facilitate superior agility, higher speed, efficient maneuverability, and a high survival rate in adverse weather conditions is acting as another significant growth-inducing factor. In line with this, the elevating integration of state-of-the-art communication systems to ensure the transfer of real-time data of cargo to the specialists at the air traffic control (ATC) is further stimulating the market growth.
Besides this, the inflating expenditure by government bodies on upgrading their existing transport aircraft with new-generation features and technologies and the rising defense budgets are expected to bolster the military transport aircraft market in the coming years.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Airbus SE, Aviation Industry Corporation of China Ltd., Embraer S.A., Hindustan Aeronautics Limited, Kawasaki Heavy Industries Ltd., Leonardo S.p.A., Lockheed Martin Corporation, Textron Inc. and The Boeing Company.
The report has been segmented the market into following categories:
Breakup by Aircraft Type:
- Fixed Wings
Breakup by Payload:
- Below 50 Tons
- 51 Tons to 100 Tons
- 101 Tons and Above
Breakup by Application:
- Troop Airlifting
- Cargo Supply
Breakup by End User:
- Physician’s Office
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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