ID: MRFR/A&D/9222-HCR | October 2021 | Region: Global | 99 Pages
Table of Contents
1. Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Global Utility AircraftMarket, byType
1.1.2. Global Utility Aircraft Market, byApplication
1.1.3. Global Utility Aircraft Market, by Region
2. Market Introduction
2.1. Market Definition
2.2. Scope of the Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Market Factor Indicator Analysis
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
4. Market Insights
5. Market Dynamics
5.1. Introduction
5.2. Drivers
5.2.1. Increasing Military Expenditure
5.2.2. Growing Air Freight Demand
5.2.3. Drivers Impact Analysis
5.3. Restraints
5.3.1. High Cost of Aircraft Engines
5.4. Opportunities
5.4.1. Increasing Demand for Rapid Delivery and Growing E-Commerce Industry
5.5. Market/Technological Trends
5.6. Patent Trends
5.7. Regulatory Landscape/Standards
6. Market Factor Analysis
6.1. Value Chain/Supply Chain Analysis
6.1.1. R&D
6.1.2. Manufacturing
6.1.3. Distribution & Sales
6.1.4. Post-Sales Monitoring
6.2. Porter’s Five Forces Analysis
6.2.1. Threat of New Entrants
6.2.2. Bargaining Power of Buyers
6.2.3. Threat of Substitutes
6.2.4. Bargaining Power of Suppliers
6.2.5. Intensity of Rivalry
7. Global Utility Aircraft Market, by Type
7.1. Introduction
7.2. Fixed-Wing
7.3. Rotary-Wing
7.3.1. Light
7.3.2. Medium Lift
7.3.3. Heavy Lift
8. Global Utility Aircraft Market, by Application
8.1. Introduction
8.2. Commercial
8.2.1. Agriculture
8.2.2. Air Freight
8.2.3. Passenger Transportation
8.2.4. Medical Support
8.2.5. Others
8.3. Non-Commercial
8.3.1. Peacekeeping
8.3.2. Search & Rescue
8.3.3. Firefighting
8.3.4. Military Logistics
8.3.5. Air Assault
8.3.6. Command & Control
8.3.7. Troop Transportation
8.3.8. Humanitarian Aid
9. Global Utility Aircraft Market, by Region
9.1. Introduction
9.2. North America
9.2.1. US
9.2.2. Canada
9.3. Europe
9.3.1. UK
9.3.2. Germany
9.3.3. France
9.3.4. Italy
9.3.5. Rest of Europe
9.4. Asia-Pacific
9.4.1. China
9.4.2. Japan
9.4.3. India
9.4.4. Australia
9.4.5. Rest of Asia-Pacific
9.5. Middle East & Africa
9.5.1. Saudi Arabia
9.5.2. UAE
9.5.3. Rest of Middle East & Africa
9.6. Latin America
9.6.1. Brazil
9.6.2. Rest of Latin America
10. Competitive Landscape
10.1. Competitive Overview
10.2. Competitor Dashboard
10.3. Major Growth Key Strategies in the Global Utility Aircraft Market
10.4. Competitive Benchmarking
10.5. Market Share Analysis
10.6. Leading Player in terms of the Number of Developments in the Global Utility Aircraft Market
10.7. Key Developments & Growth Strategies
10.7.1. New Product Launches/Service Applications
10.7.2. Mergers& Acquisitions
10.7.3. Joint Ventures
11. Company Profiles
11.1. Key Market Players
(Company overview, financial updates, products & service offered, key developments, SWOT analysis, and key strategies to be provided for all the listed companies)
11.1.1. Lockheed Martin Corporation
11.1.2. Airbus S.A.S.
11.1.3. Bombardier Inc.
11.1.4. Textron Inc.
11.1.5. Leonardo S.p.A.
11.1.6. Changhe Aircraft Industries Group Co. Ltd.
11.1.7. Harbin Aircraft Industry Group Co., Ltd.
11.1.8. Piaggio Aero Industries S.p.A.
11.1.9. Daher Aerospace, S.A. de C.V.
11.1.10. United Aircraft Corporation
12. Appendix
12.1. References
12.2. Related Reports
12.3. List of Abbreviation 
List of Tables
TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 MAJOR PATENTS GRANTED FOR UTILITY AIRCRAFT (2016–2021)
TABLE 3 TYPE: GLOBAL UTILITY AIRCRAFT MARKET, 2018–2027 (USD MILLION)
TABLE 4 APPLICATION: GLOBAL UTILITY AIRCRAFT MARKET, 2018–2027 (USD MILLION)
TABLE 5 GLOBAL UTILITY AIRCRAFT MARKET, BY REGION, 2018–2027 (USD MILLION)
TABLE 6 NORTH AMERICA: UTILITY AIRCRAFT MARKET, BY COUNTRY, 2018–2027 (USD MILLION)
TABLE 7 NORTH AMERICA: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 8 NORTH AMERICA: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 9 US: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 10 US: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 11 CANADA: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 12 CANADA: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 13 EUROPE: UTILITY AIRCRAFT MARKET, BY COUNTRY, 2018–2027 (USD MILLION)
TABLE 14 EUROPE: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 15 EUROPE: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 16 UK: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 17 UK: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 18 GERMANY: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 19 GERMANY: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 20 FRANCE: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 21 FRANCE: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 22 ITALY: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 23 ITALY: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 24 REST OF EUROPE: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 25 REST OF EUROPE: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 26 ASIA-PACIFIC: UTILITY AIRCRAFT MARKET, BY COUNTRY, 2018–2027 (USD MILLION)
TABLE 27 ASIA-PACIFIC: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 28 ASIA-PACIFIC: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 29 CHINA: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 30 CHINA: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 31 INDIA: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 32 INDIA: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 33 JAPAN: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 34 JAPAN: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 35 AUSTRALIA: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 36 AUSTRALIA: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 37 REST OF ASIA-PACIFIC: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 38 REST OF ASIA-PACIFIC: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 39 MIDDLE EAST & AFRICA: UTILITY AIRCRAFT MARKET, BY COUNTRY, 2018–2027 (USD MILLION)
TABLE 40 MIDDLE EAST & AFRICA: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 41 MIDDLE EAST & AFRICA: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 42 SAUDI ARABIA: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 43 SAUDI ARABIA: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 44 UAE: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 45 UAE: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 46 REST OF THE MIDDLE EAST & AFRICA: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 47 REST OF THE MIDDLE EAST & AFRICA: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 48 LATIN AMERICA: UTILITY AIRCRAFT MARKET, BY COUNTRY, 2018–2027 (USD MILLION)
TABLE 49 LATIN AMERICA: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 50 LATIN AMERICA: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 51 BRAZIL: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 52 BRAZIL: UTILITY AIRCRAFT MARKET, BY APPLICATION, 2018–2027 (USD MILLION)
TABLE 53 REST OF LATIN AMERICA: UTILITY AIRCRAFT MARKET, BY TYPE, 2018–2027 (USD MILLION)
TABLE 54 REST OF LATIN AMERICA: UTILITY AIRCRAFT MARKET, BY APPLICATION,2018–2027 (USD MILLION)
TABLE 55 THE MOST ACTIVE PLAYERS IN THE GLOBAL UTILITY AIRCRAFT MARKET
TABLE 56 CONTRACTS & AGREEMENTS
TABLE 57 MERGERS & ACQUISITIONS
TABLE 58 PRODUCT DEVELOPMENTS
TABLE 59 EXPANSIONS & INVESTMENTS
TABLE 60 JOINT VENTURES & PARTNERSHIPS
 
List of Figures
FIGURE 1 MARKET SYNOPSIS
FIGURE 2 GLOBAL UTILITY AIRCRAFT MARKET: MARKET ATTRACTIVENESS ANALYSIS
FIGURE 3 GLOBAL UTILITY AIRCRAFT MARKET ANALYSIS, BY TYPE
FIGURE 4 GLOBAL UTILITY AIRCRAFT MARKET ANALYSIS, BY APPLICATION
FIGURE 6 GLOBAL UTILITY AIRCRAFT MARKET ANALYSIS, BY REGION
FIGURE 7 GLOBAL UTILITY AIRCRAFT MARKET: MARKET STRUCTURE
FIGURE 8 KEY BUYING CRITERIA FOR UTILITY AIRCRAFTTYPES
FIGURE 9 RESEARCH PROCESS OF MRFR
FIGURE 10 NORTH AMERICA: MARKET SIZE & MARKET SHARE, BY COUNTRY, 2020 VS 2027
FIGURE 11 EUROPE: MARKET SIZE & MARKET SHARE, BY COUNTRY, 2020 VS 2027
FIGURE 12 ASIA-PACIFIC: MARKET SIZE & MARKET SHARE, BY COUNTRY, 2020 VS 2027
FIGURE 13 MIDDLE EAST & AFRICA: MARKET SIZE & MARKET SHARE, BY COUNTRY, 2020 VS 2027
FIGURE 14 LATIN AMERICA: MARKET SIZE & MARKET SHARE, BY REGION, 2020 VS 2027
FIGURE 15 MARKET DYNAMICS OVERVIEW
FIGURE 16 DRIVERS IMPACT ANALYSIS: GLOBAL UTILITY AIRCRAFT MARKET
FIGURE 17 CHALLENGES IMPACT ANALYSIS: GLOBAL UTILITY AIRCRAFT MARKET
FIGURE 18 PORTER’S FIVE FORCES ANALYSIS OF THE GLOBAL UTILITY AIRCRAFT MARKET
FIGURE 19 SUPPLY CHAIN: GLOBAL UTILITY AIRCRAFT MARKET
FIGURE 20 GLOBAL UTILITY AIRCRAFT MARKET SHARE, BY TYPE, 2020 (% SHARE)
FIGURE 22 GLOBAL UTILITY AIRCRAFT MARKET SHARE, BY REGION, 2020 (% SHARE)
FIGURE 23 NORTH AMERICA: UTILITY AIRCRAFT MARKET SHARE, BY COUNTRY, 2020 (% SHARE)
FIGURE 24 EUROPE: UTILITY AIRCRAFT MARKET SHARE, BY COUNTRY, 2020 (% SHARE)
FIGURE 25 ASIA-PACIFIC: UTILITY AIRCRAFT MARKET SHARE, BY COUNTRY, 2020 (% SHARE)
FIGURE 26 MIDDLE EAST & AFRICA: UTILITY AIRCRAFT MARKET SHARE, BY COUNTRY, 2020 (% SHARE)
FIGURE 27 LATIN AMERICA: UTILITY AIRCRAFT MARKET SHARE, BY COUNTRY, 2020 (% SHARE)
FIGURE 28 COMPETITOR DASHBOARD: GLOBAL UTILITY AIRCRAFT MARKET
FIGURE 29 CAPITAL MARKET RATIO AND FINANCIAL MATRIX
FIGURE 30 CONTRACTS & AGREEMENTS: THE MAJOR STRATEGY ADOPTED BY KEY PLAYERS IN THE GLOBAL UTILITY AIRCRAFT MARKET
FIGURE 31 BENCHMARKING OF MAJOR COMPETITORS
FIGURE 32 MAJOR MANUFACTURERS MARKET SHARE ANALYSIS, 2020
$252 Billion
4.2%
North America
2021-2027
By 2027, the utility aircraft market is expected to develop at a CAGR of 4.2 percent. Amplified spending on long-term initiatives, such as upgrading military equipment and aircraft and heavy investments in R&D. China is the world's second-largest military spender, with a projected military budget of USD 252 billion in 2020. Despite the pandemic's negative impact on GDP growth, most countries continued to strengthen their military capabilities by purchasing modern utility planes and innovative military weapons, among other things.
Military modernization programs and increased spending by several countries to enhance their aircraft fleets and replace old aircraft and the increasing use of aircraft in various fields such as firefighting, agriculture, sports activities, and others are the primary factors driving the market growth. The utility aircraft market is growing because of military modernization plans and increased investment by developing and developed countries. Furthermore, the utility aircraft market is expected to benefit from the wide range of utility aircraft applications in various industries, such as firefighting, sporting activities, and agriculture, among others, throughout the projected period. Furthermore, the use of utility aircraft is supporting its market demand; it can be used in a variety of ways depending on the situation, such as transporting people and other supplies, and the same aircraft can be used in place of large and heavy (specialized) aircraft when they are not available or are not required.
COVID-19 Analysis
According to MRFR, the current global utility aircraft market growth projections until 2027 are expected to be lower than pre-COVID-19 estimates. The pandemic has had a devastating negative impact on the aviation and defense industry across the world. The operations in the aviation transport industries were significantly affected, which in turn impacted the growthutility aircraft market. The demand for utility aircraft declined, causing losses in the commercial segment sales for the manufacturers involved.
Many governments across the globe are focused on controlling COVID-19 outbreaks in their countries. Hence, they are investing more in healthcare equipment and production and/or purchase of vaccines. Therefore, the expenditures on new utility aircraft are expected to be lower than the pre-COVID estimates for the next few years. As the global economy is slowly recovering, the demand is likely to reach pre-COVID levels in a couple of years.
Thus, it is expected that the global utility aircraft market will grow at a relatively slower rate (compared to pre-COVID figures) in the first couple of years and grow at afaster ratelater.
Market Dynamics
Drivers
Over the last decade, the world has witnessed substantial growth in capital expenditure from governments across the globe to bolster their military strength. Despite the COVID-19 pandemic shock to the global GDP growth, the defense budgets and revenues are likely to remain stable, in general, for defense contractors during the study period. As per SIPRI, the global military expenditure increased to USD 1,981 billion in 2020, an increment of 2.6% from 2019.
The military expenditure of the US alone accounted for USD 778 billion in 2020, registering a rise of 4.4% in 2019 and a dominant share of 39.27% in the global military spending in 2020. Heavy investments in R&D and increased expenditure in long-term projects, including modernization of military equipment and aircraft. With an estimated military expenditure of USD 252 billion in 2020, China is the second-largest military spender. Despite the shock to the GDP growth due to the pandemic, most of the countries continued to bolster their military capabilities in 2020 through the acquisition of modern utility aircraft and advanced military equipment, among others. The major economies are expected to continue spending on the development and acquisition of advancedutility aircraft for various applications, including logistics, command & control, air assault, thereby driving the growth of the global utility aircraft market in the coming years during the forecast period.
Opportunities
The e-commerce industry has witnessed rapid growth in the past decade. Propelled by technological advancements, the e-commerce industry has come a long way, saving consumers time and hassle and improving their retail experience. Rapid delivery has been the focus of frictionless e-commerce operations. Logistic partners or divisions of e-commerce companies have upscaled their delivery capacities and capabilities to meet the growing demand for rapid delivery and maintain a competitive position in the market,and this is where the utility aircraft come into play. In order to provide same-day delivery to its customers, the authorities have started adopting utility aircraft. Thus, increasing demand for rapid delivery and the growing e-commerce industry presents lucrative opportunities for players operating in the global utility aircraft market.
Restraints
The cost of utility aircraft has been on the rise, which can be primarily attributed to the improvements in engineering & manufacturing operations for efficiency optimization.The high cost of structural components & assemblies has been the primary cost factor for utility aircraft.
For typical utility aircraft, aircraft engines comprise a significant portion of overall aircraft cost. With a focus on improvement in engine design to improve engine performance, the cost of aircraft engines has significantly risen. Thus, the high cost of aircraft engines is expected to restrain the growth of the global utility aircraft market.
Cumulative Growth Analysis
The global utility aircraftmarket growth is expected to be at a rate of 4.2% over the analysis period (between 2021 and 2027) on account of the introduction of technologically advanced aircraft engines.
Supply Chain Analysis
The supply chain of the utility aircraft market primarily comprises five stages – inputs, design & development, output, sales & distribution, and post-sales services.In the inputs stage, the utility aircraft and aircraft component manufacturers work on new technologies and do the necessary research pertaining to their feasibility to improve the quality of the products and work on features that meet the consumer needs. The next stage is that of design & development. This process involves inquiries about the quality of raw materials and their cost. The stage is characterized by primarily four steps — conceptualization, product designing, product development, and testing to ensure quality standards. The output is utility aircraft. These aircraft are then sold through distribution channels, consisting of intermediaries, direct selling, online channels, and others. The last stage is post-sales services which include system support and training provided by the manufacturers themselves or partner companies.
Segment Overview
By Type
The global utility aircraft market based on type has been segmented into fixed-wing and rotary-wing.
The rotary-wing segment is likely to register significant growth during the forecast period due to the continuously rising demand for utility helicopters. Utility helicopters are used for a wide range of military applications, such as military logistics, air assault, command & control, and troop transportation. Additionally, these are used for firefighting and humanitarian aid.
By Application
Based on application, the global utility aircraft market has been classified into commercial and non-commercial.
The non-commercial segment is forecasted to register considerable growth in the coming years, owing to the increasing usage of utility aircraft for various military applications, including logistics, command & control, and air assault.
Regional Analysis
Over the last decade, North America witnessed strong growth in the demand for utility aircraft and is likely to continue dominating the global market during the forecast period. The US is the key contributor to the robust growth in the North Americanutility aircraft market, which can be attributed to the country’s mammoth military spending. The US has been, and continues to be, the country with the world’s largest military expenditures and revenues. Along with being the world’s largest military spender, the country is also home to the world’s leading utility aircraft manufacturers, making it the leading market for utility aircraft.
The region is home to some of the leading utility aircraft manufacturers, such as Lockheed Martin Corporation, Bombardier Inc., and Textron Inc. Additionally, the US military has been investing heavily in the design and development of utility aircraft for enhancing its military capabilities. The country’s military expenditure alone accounted for nearly 39% of global military expenditure in 2020, with a significant portion being spent on military modernization, including new utility aircraft. Therefore, with US spendingonthe acquisition of new utility aircraft, the North America utility aircraft market is expected to witnessrobust growth during the study period.
APAC Forecasted to Grow at the Fastest Rate as China Takes the Lead
Asia-Pacific utility aircraft market is estimated to grow at the fastest rate, owing to the growing air freight demand and increasing military spending by major economies in the region. The region is one of the largest and most diverse regions in the world and consists of major established and emerging economies. The region is comprised of five sub-regions ― China, Oceania, Northeast Asia, Southeast Asia, and South Asia. These sub-regions are characterized by their own unique market dynamics.
China leads the Asia-Pacific utility aircraft market, primarily attributed to its substantial military spending, which is highest in the region and second highest in the world. As per to SIPRI, China alone accounted for almost USD 252 billion in 2020, an increment of 1.9% over 2019. Most of China’s military expenditure has been towards long-term military modernization and large-scale acquisition of military aircraft and equipment. Thus, the APAC utility aircraft market is expected to grow at the fastest rate during the forecast period.
Competitive Landscape
Significant Investments by Players to Intensify Competition
The global utility aircraftmarket is expected to grow significantly in the coming years due to increasing defense expenditure and technological advancements in aircraft engine design. The global utility aircraftmarket is characterized by the presence of several global and regional vendors. The market is highly competitive, with all the players trying to gain maximum market share. Frequent changes in government policies, intense competition, and government regulations are the key factors that impact the global market growth. The vendors compete based on cost, product quality, and reliability.
Lockheed Martin Corporation is a leading aerospace & defense company that designs, develops, manufactures, and integrates advanced defense products and aircraft. It also offers a wide range of services, including engineering, technical, scientific, logistics, and cyber security services, and caters to military, civil, and commercial industries. Other than the US, the company operates through offices located in Canada, Saudi Arabia, the UK, and Russia. Lockheed Martin Corporation operates in the following reportable segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and space systems.
The global utility aircraft market has a few international and regional established players. The established players in the market are working towards expanding their product portfolio either through partnering with or acquiring another prominent aircraft component manufacturer in the market. The players in the market are working towards improving their operational capabilities, thereby reducing the cost of their product offerings and increasing their revenues while also intensifying the market competition.
List of Key Companies Covered in this Report
Recent Developments
Objectives of the Study
Report Overview
Scope of the Report
The scope of the report highlights drivers, opportunities, and restraints surrounding the global market. With easy-to-comprehend segmentation that includes type,application, as well as region, MRFR projections are on the basis of historical as well as expected trends. Major firms active in the global market have been profiled as well, paired with the top strategies employed by them to remain competitive in the industry.
Segmentation Table
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | |
CAGR | 4.2% CAGR (2021–2027) |
Base Year | 2020 |
Forecast Period | 2021-2027 |
Historical Data | 2018-2019 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type, and Application |
Geographies Covered | North America, Europe, Asia-Pacific, Middle East & Africa,and Latin America |
Key Vendors | Lockheed Martin Corporation (US), Airbus S.A.S. (Netherlands), Bombardier Inc. (Canada), Textron Inc. (US), Leonardo S.p.A. (Italy), Changhe Aircraft Industries Group Co. Ltd. (China), Harbin Aircraft Industry Group Co., Ltd. (China), Piaggio Aero Industries S.p.A. (Italy), Daher Aerospace, S.A. de C.V. (France), and United Aircraft Corporation (Russia) |
Key Market Opportunities | Increasing Demand for Rapid Delivery and Growing E-Commerce Industry |
Key Market Drivers | • Increasing Military Expenditure • Growing Air Freight Demand |