DUBLIN–(BUSINESS WIRE)–The “Europe Fighter Aircraft Market – Growth, Trends, and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The Europe Fighter Aircraft Market is expected to exhibit a growth rate of more than 4% during the forecast period.
- In an effort to enhance the aerial combat capabilities, several nations in the region are upgrading their existing fleet of fighter jets and replacing their aging and obsolete fleet with advanced new generation aircraft.
- European nations are investing in the modernization of air combat capabilities and these investments are driving the advancements in stealth technology and precision weapon development which is subsequently driving the development of fighter aircraft.
- Europe is witnessing rapid development in aerial fighting capabilities and air defense. These factors are propelling the growth of the fighter aircraft market in the region. Various collaborative development programs such as Future Combat Air System of France, Spain, and Germany, Tempest fighter development program of the UK are expected to propel the introduction of advanced fighter aircrafts to the European sky and replace existing fleet of Rafales, Typhoons, etc.
Key Market Trends
Short Take Off And Landing Aircraft Segment To Witness The Highest Growth During The Forecast Period
The market for Short Take-Off And Landing (STOL) Fighter Aircraft is expected to grow with a high CAGR during the forecast period. STOL Fighter Aircraft are advanced versatile aerial combat machines that can be deployed at shorter runways in very less time. Fighter aircraft manufacturers are focusing on integrating the STOL and VTOL (vertical take-off and landing) capabilities in an aircraft and significant investments have been made in this area in form of Fifth and Sixth generation fighter aircraft development programs.
In June 2019, France, Spain, and Germany entered into the agreement (Future Combat Air System) to develop sixth-generation fighter aircraft. This is the biggest arms development program in Europe to date and an initial investment of EUR 4 billion is expected from France and Germany. The Joint Strike Fighter program of the United States is also propelling the growth of the segment with the objective of replacing the fleet of F-16, F-18, A-10, and AV-8B fighter aircraft with F-35 Lightning II in countries such as United Kingdom, Italy, the Netherlands, Belgium, etc. The F-35B short takeoff/vertical landing (STOVL) variant is the world’s first supersonic STOVL stealth aircraft.
The United Kingdom is Expected to Show the Highest Growth During The Forecast Period
During the forecast period, the UK is expected to show growth with the highest growth rate. The United Kingdom is in a formal partnership with the United States on the F-35 development program, along with Australia, Canada, Denmark, Italy, the Netherlands, and Norway. The F-35 features a significant chunk of components built in the UK, with up to 10-15% of the components of each aircraft being built or developed in the country.
In addition, the United Kingdom is currently the largest foreign customer for the F-35 program for the US. The country’s 138 aircraft will become the largest anticipated foreign fleet of the F-35 once all the aircraft are delivered to the country. In November 2018, UK Signed a multi-million-pound contract which will see the UK own 35 stealth jets by end of 2022. The new contract was for 17 F-35B aircraft which will be delivered during 2020 – 2022. In addition, the country is planning to develop a sixth-generation aircraft programs, the UK-led Tempest stealth fighter project, for which Sweden and Italy became partners, while the Netherlands have also expressed interest. Such programs are expected to help the growth of the market in the country in the years to come.
Prominent players in the Europe fighter aircraft market are Saab AB, Lockheed Martin Corporation, Dassault Aviation, BAE Systems PLC, Airbus SE. The market is being propelled by the technological advancements and up-gradation of the existing fleet. Many fighter aircraft development programs are underway in Europe that is expected to significantly propel the growth of the players during the forecast period and the following 10 to 15 years. Russian Aircraft Corporation is currently working on a hypersonic fighter aircraft Mig-41 with a daunting speed of Mach 3 and the first flight of the aircraft is expected to take off during mid-2020.
Russia is also currently working on the YAK 150 prototype capable of vertical take-off and landing. Due to recent advanced developments in aerial warfare, fighter jets are being designed for the high-speed interception, electronic warfare, surveillance, breach detection and other operations. Significant investments in R&D will help the development of sixth-generation fighters and is expected to bolster the market prospects of the manufacturers of such aircraft during the forecast period.
Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Take-Off And Landing
5.1.1 Conventional Take-Off And Landing Aircraft
5.1.2 Short Take-Off And Landing Aircraft
5.1.3 Vertical Take-Off And Landing Aircraft
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Lockheed Martin Corporation
6.1.2 Dassault Aviation
6.1.3 BAE Systems PLC
6.1.4 Airbus SE
6.1.5 The Boeing Company
6.1.6 Saab AB
6.1.7 Leonardo S.p.A.
6.1.8 Russian Aircraft Corporation
6.1.9 JSC Sukhoi Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/y3bzmb
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