“Close Air Support market to total USD 11.3 billion in 2029” says new Visiongain report

16 December 2019
Defence

Visiongain has published a new defence report entitled Close Air Support Market Report 2020-2030.

The Close Air Support (CAS) market is estimated to witness a Compound Annual Growth Rate (CAGR) of 3.34 per cent from 2019 to 2029.

Several factors are having a profound, driving effect on the market, notably the increasing demand for low-cost aircraft, investment in ‘off-the-shelf’ aeroplanes, and continuing importance of CAS to joint operations.

Visiongain anticipates that global investment and consolidation will be modest over the next decade. The market’s stable and good health is due to the factors listed above as well as the presence of many established companies, such as AERO Vodochody, Air Tractor, Embraer, Hindustan Aeronautics Ltd., Bell Helicopter, Textron, Leonardo S.p.A., Airbus, Lockheed Martin, and Sierra Nevada Corporation.

The senior Defence Analyst said: "The Global Close Air Support market is expected to generate sales of USD 8.16 billion in 2019.

"Close air support is the direct support of soldiers on the ground from air assets, both manned and unmanned, fixed-wing and rotary-wing. It has been in existence for over a hundred years but was widely misunderstood by the general public until the recent wars in Iraq and Afghanistan.

"Visiongain forecasts that over the next decade, the Close Air Support market will experience a rise in expenditure due to the increasing demand for low-cost aircraft. Indeed, several of the world’s wealthiest and most influential nations are investing in ‘off-the-shelf’ aeroplanes to yield long-term cost savings.

"It is also anticipated that continued investment and consolidation will be secure over the long term given the importance of CAS to joint operations and the fact its mere presence can affect morale on the battlefield.

"In conclusion, by 2029, the Close Air Support market will have surpassed the 10 billion-dollar mark, achieving a total sales figure of USD 11.3 billion."

Note for Editors
If you are interested in a more detailed overview of this report, please send an email to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is a leading business intelligence provider, publishing market reports for the automotive, aviation, chemicals, construction, cyber, defence, electronics, energy, food & drink, IT, maritime, materials, packaging, pharmaceutical, renewable energy, telecoms and utilities sectors.

We are one of the fastest growing and most innovative independent research companies in Europe. Based in London, UK, visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port-of-call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

Visiongain Publishes Military Smart Weapons Market Report 2021-2031

Owing to availability of upgrade kits for conventional weapons, increase in investment in advanced missiles defence systems and interceptor missiles, and increase in demand for miniaturised precision guided weapons.

22 June 2021

Read

Visiongain Publishes Distributed Fibre Optic Sensing (DFOS) Market Report 2021-2031

The market for offshore oil and gas industry is expected to be driven by the increase in offshore drilling activities. This combined with high investment done in an effort to explore new reserves for oil and gas would drive the offshore oil and gas industry.

17 June 2021

Read

Visiongain Publishes Military Electro-Optical and Infrared (EO/IR) Systems Market Report 2021-2031

The growth in asymmetric warfare has prompted government institutions to implement self-security and defensive tactics against terrorist or insurgent strikes.

17 June 2021

Read

Visiongain Publishes Laser Weapon Systems Market Report 2021-2031

With advancements in technology awareness regarding usage of NextGen weapons and systems in modern warfare is increasing among armed forces of major countries.

26 April 2021

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever