Military Vertical Take-Off and Landing Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Military Vertical Take-Off and Landing Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global military vertical take-off and landing aircraft market size reached US$ 41.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 65.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.9% during 2023-2028.

Military vertical take-off and landing (VTOL) aircraft operates, takes off and lands from the same place, small pad or unprepared site without the requirement of a long runway. It contains lightweight and efficient turbofans and can perform more maneuvers compared to conventional aircraft. It is widely utilized to transport troops quickly, easily and safely from a base location or aircraft carriers to battlefronts. It is also used for providing essential supplies to victims of natural calamities during rescue missions. Presently, VTOL unmanned aerial vehicles (UAVs), such as drones, that use electric motors are gaining widespread adoption in the defense and military sector worldwide as they are more energy-efficient than jet engines.

With rising international border disputes, governing agencies of several counties are procuring and replacing existing aircraft with next-generation military equipment and weapons. This represents one of the major factors propelling the market growth. Moreover, as VTOL UAVs can land in difficult and compact areas, they are used in counterterrorism to provide surveillance and tracking terrorism activities in remote areas. Apart from this, the rising demand for military aircraft that can operate from austere bases and in the front-line combat zone is influencing the market growth positively. Their demand is also increasing in natural disaster vulnerable areas to mitigate the damage. Furthermore, due to the rising environmental concerns, manufacturers are using different technologies and production strategies to develop hybrid-electric VTOL aircraft with effective aerodynamic forces and reduced operating costs.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global military vertical take-off and landing aircraft market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on aircraft type, application and end user.

Breakup by Aircraft Type:

Rotorcraft
Powered-Lift
 

Breakup by Application:

Combat Operations
Agriculture and Mining
Border Management
Battle Damage Management
Others
 

Breakup by End User:

Military
Civil and Commercial
Homeland Security
Others
 

Breakup by Region:

North America

United States
Canada


Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others


Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others


Latin America

Brazil
Mexico
Others


Middle East and Africa
 

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AeroVironment Inc., Airbus SE (Airbus Group), BAE Systems Plc, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Neva Aerospace Ltd., Northrop Grumman Corporation, Saab AB, Textron Inc. and The Boeing Company.

Key Questions Answered in This Report:

How has the global military vertical take-off and landing aircraft market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global military vertical take-off and landing aircraft market?
What are the key regional markets?
What is the breakup of the market based on the aircraft type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global military vertical take-off and landing aircraft market and who are the key players?
What is the degree of competition in the industry?