Global combat aircraft market revenues to reach $493.14 billion by 2026, study saysNews
January 14, 2019
SAN ANTONIO, Texas. The global combat aircraft market is set for rapid growth, with the potential to reach revenues of $493.14 billion by 2026, according to a new market study by Frost & Sullivan, "Global Combat Aircraft Market, Forecast to 2026."
The market study predicts a combined annual growth rate (CAGR) in this market of 39 percent, a high rate that has much to do with geographical instability, territorial and border disputes, and the need to replace ageing fleets with modern fourth-/fifth-generation multirole fighters that have longer ferry range, higher payload capacity, and better survivability against integrated air defense networks. During the study period, Frost & Sullivan anticipates planned and perceived modernization and procurement opportunities in the combat aircraft market to exceed $101 billion.
“Older-generation combat aircraft will find future air combat environments challenging in the face of new air and ground-based sensors and weapons capabilities, increased digitalization of battlespace, and forces moving towards collaborative network-centric operations,” noted Frost & Sullivan industry analyst Arjun Sreekumar. “The installation of new-generation electronic countermeasures will be a minimum survival requirement in a rapidly evolving environment.”
For more information on this market study, please visit the Frost & Sullivan website.