Military Training Aircraft Market Overview
Military Training Aircraft Market Size is expected to reach USD 40.21 Billion by 2030, registering a CAGR of 3.07% during 2020-2030.
The COVID-19 outbreak had a mild impact on the total market revenues, given the no impact on the demand for military training. Worldwide militaries are keen on maintaining more compact but efficient aircraft fleets. This is prompting them to purchase new next-generation aircraft with innovative features as well as sophisticated cockpits. This has resulted in a higher demand for pilot training on new aircraft interfaces, thereby bolstering the procurement rate of trainer variants.
Lightweight advanced jet trainers with robust attack capabilities such as the Dassault/Dornier alpha jets are being deployed in light strike roles. Multi-engine trainers such as the Boeing 707, are deployed by pilots that use fixed-wing aircraft type and aircraft like Boeing T 43 are being used for training navigators.
But the substantial costs involved in developing innovative trainer aircraft can challenge the players part of the worldwide market. The adoption rate of basic trainer aircraft will also be affected by the lack of ability to offer proper air support to traditional aircraft when required.
However, with simulation-based training technologies achieving a higher rate of sophistication for training the pilots in extensive warfare scenarios, the players are bound to be presented with lucrative opportunities in the future. In short, the surge in technical advances and the rising military budgets across the globe could be major opportunities for the firms in the years ahead.
Segmentation of the Global Military Training Aircraft Market
Based on type, the global market has been segmented into fixed-wing and rotary-wing. The fixed-wing segment has been sub-segmented into basic jet trainers, intermediate jet trainers, advanced jet trainers. The fixed-wing segment dominated the market in 2018 and is expected to witness a higher CAGR during the forecast period. The growing adoption of military training aircraft by developed countries such as the US and the UK is driving the segment growth. Based on seat type, the global market has been divided into single and twin. The single-seat segment dominated the market in 2018. However, the twin-seat segment is expected to witness a higher CAGR during the forecast period owing to increasing modernization of old military training aircraft. Based on application, the global market has been divided into armed and unarmed. The armed segment dominated the market in 2018 and is expected to witness a higher CAGR during the forecast period. Factors such as increasing arms race across the world and increasing terrorism are driving the segment growth. Based on the region, the market has been categorized as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America held the largest market share in 2018. However, Asia-Pacific is expected to grow with the highest CAGR during the forecast period, 2019 to 2028. Increasing military expenditure of developing countries such as China and India are driving the market growth in the region. Furthermore, growing cross-border terrorism in countries such as India, China, and Pakistan are also encouraging the government bodies to invest in military training aircraft.
The key players in the global military training aircraft market are Raytheon Company (US), Northrop Grumman Corporation (US), IRKUT CORPORATION (Russia), BAE Systems plc (UK), Lockheed Martin Corporation (US), Hindustan Aeronautics Limited (India), Diamond Aircraft Industries (Austria), The Boeing Company (US), Grob Aircraft (Germany), Textron Inc. (US), Embraer SA (Brazil), and Leonardo SpA (Italy).
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
TF-X, Turkey’s advanced fifth-generation stealth fighter will be making its first flight in the coming three years. Ankara, a renowned military power, is seeking an advanced fighter jet and Turkey’s TF-X, which is touted to be the equivalent of the US F-35, can fulfill this need.
The UAE Defense Ministry is expected to enter a contract deal with China National Aero-Technology Import & Export Corporation (CATIC) to attain the L15 training & light combat aircraft, in line with the possibility of procuring another 36 planes in the years to come.
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Global military training aircraft market is projected to register a moderate 2.75% CAGR in the forecast period.
The military segment is expected to observe substantial demand over the review period.
The twin-seated segment is expected to secure the highest CAGR.
The armed segment is expected to observe substantial demand over the review period.
A few emminent market players operating in the global military training aircraft market are Raytheon Company (US), Northrop Grumman Corporation (US), BAE Systems plc (UK), among others.