Visiongain Publishes Special Mission Aircraft Market Report 2022-2032
23 May 2022
Visiongain has published a new report entitled the Special Mission Aircraft Market Report 2022-2032: Forecasts by Aircraft Type (ISR Aircraft, MPA Aircraft, AEW&C Aircraft, SAR Aircraft, Refuelling Aircraft, Other), by Payload Type (Sensors Suit, Communication Suite, Protection Suite, Combat Suite, Other), by Platform Type (Military Aviation, Commercial Aviation, Unmanned Aerial Vehicle, Research & Survey Aviation, Protection & Rescue Aviation, Other), by Application (Intelligence, Surveillance, & Reconnaissance, Security Missions, Infrastructure Planning & Monitoring, Mining & Exploration Missions, Scientific Research and Geological Surveys, Media, Vegetation & Mapping, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
The global refuelling aircraft market was valued at US$14,987 million in 2021 and is projected to grow at a CAGR of 4.1% during the forecast period 2022-2032.
Demand for Air-To-Air Refuelling Has Increased to Accommodate Overseas Deployments
Increased demand for air-to-air refuelling to support overseas deployment is a major driver of market growth, as are high defence expenditures of countries, increases in defence expenditures of countries, increased incremental use of unmanned aerial vehicles (UAVs) in military operations, and increased demand for emergency medical service (EMS) helicopters, among other factors. Furthermore, in the projection period of 2022-2032, an increase in demand for air-launched tiny satellites and an improvement in sensor technology driving demand for unmanned aerial vehicles would generate new opportunities for special purpose aircraft makers.
BIRD Aerosystems Gets New Order for King-Air 350 Special Mission Plane
An unnamed customer has placed a fresh order for a King-Air 350 Special Mission Maritime Patrol Aircraft, according to BIRD Aerosystems. BIRD will buy the plane and convert it to a Maritime Patrol Aircraft utilising its renowned ASIO solution, according to the contract.
How Has COVID-19 Had a Significant Negative Impact on the Special Mission Aircraft Market?
Almost all major countries experienced a drop in economic development as a result of the COVID-19 pandemic, altering consumer purchasing patterns. National and international transportation have been hampered as a result of the lockdown applied in several nations, which has had a substantial influence on the supply chain of numerous sectors throughout the world, consequently widening the supply–demand mismatch. As a result, insufficient raw material supply is likely to slow down the production rate of special mission aircraft, reducing market growth. However, the situation is anticipated to improve as governments around the world begin to reduce regulations to allow businesses to resume operations. COVID-19 is expected to have a 7–10 percent global impact on special purpose aircraft production and services in 2022, according to industry experts. The COVID-19 pandemic has had a negative influence on the end-use sectors, resulting in a sharp drop in special mission aircraft orders and delivery in 2020. The global economy may be affected in three ways during the COVID-19 period: directly in terms of production and demand, indirectly in terms of supply chains and markets, and financially as a result of its financial effects on enterprises and financial markets. According to analysts tracking the situation throughout the world, producers will be rewarded following the COVID-19 problem.
How this Report Will Benefit you?
Visiongain’s 541-page report provides 331 tables and 329 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global refuelling aircraft market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Special Mission Aircraft. Get the financial analysis of the overall market and different segments including aircraft type, payload type, platform type, application and capture higher market share. We believe that high opportunity remains in this fast-growing refuelling aircraft market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
Defence Forces Around the World Deploy a Variety of Unmanned Aerial Vehicles (UAVs)
The use of the UAVs in order to enable the Defence forces to collect data in real-time through intelligence, surveillance and recognition activities (Internationale Reconnaissance, ISR) is required through the use of modern warfare techniques in the control and monitoring of military operations in battlefields. In addition, advances in payload technologies, such as the use of high-resolution cameras, electro-optics, and infrastructure in UAVs allow clear images of battlefields to be captured. Thus, the real-time data provided by UAVs is very important in military operations to track the movements of military vehicles and defense personnel. This serves as a driver for the special aircraft mission market. A variety of types of UAVs are used by the defence forces globally, including the CL-289 Piver by Bombardier, the RQ-1 Predator by General Atomics Aeronautical Systems (US), the BQM-155 Hunter by NorthroP Grumman, and the CL-289 Piver by Bombardier, Canada.
Growing Need to Combat Illegal Activities
The market for special mission aircraft is expected to grow at a significant rate over the forecast period, owing to a number of factors, including rising international conflicts, a growing need to combat illegal activities such as piracy, drug trafficking, and terrorism, rising technological adoption in the field, and increased government investment in the defence and military sectors. The market for special mission aircraft is expected to grow at a significant rate over the forecast period, owing to a number of factors, including rising international conflicts, a growing need to combat illegal activities such as piracy, drug trafficking, and terrorism, rising technological adoption in the field, and increased government investment in the defence and military sectors. Because of the critical role they play in keeping the opponents alive, special mission aircraft are gaining in popularity and active participation.
Where are the market opportunities?
Increasing Demand for Small Satellites Launched by Air
Air launch involves two types of vehicles in general: a winged carrier, and a spaceship/Satellite on the upper level. The benefits of air launch systems are numerous compared with other modes of launch. Although vertical launch is restricted to or above the start azimuth of the latitude of the launch site, air launch systems may fly to any latitude prior to launch. This opens up any orbital satellite inclination, including equatorial orbits. In addition, the need for a desert or water source is eliminated because the carrier is a special mission aircraft that can be reused and does not drop parts.
Increasing Strategic and Tactical Operations Drive Military Aviation Growth
It is expected that the military aviation sector will be the largest value market. The growth of the Special Mission Aircraft Market military aviation segment is attributable to the increasing demands for special mission aircraft for use in different military missions such as recognition and monitoring.
The major players operating in the refuelling aircraft market are Airbus Group SE, The Boeing Aerospace, Bombardier Inc., Cirrus Aircraft Corporation, Field Aviation, Gulfstream Aerospace Corporation, Israel Aerospace Industries Ltd, L3 Harris Technologies, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab Group, Textron Inc., Viking Air Ltd., Leonardo Aerospace Company, FLIR Systems Inc., Leidos Holdings Inc., QinetiQ Group Plc, Safran SA, Kawasaki Heavy Industries, Ltd, BAE Systems Plc. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Notes for Editors
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