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Fighter Aircraft Market size was valued at USD 47.06 billion in 2023 and is expected to reach USD 73.6 billion by 2036, expanding at around 3.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of fighter aircraft is assessed at USD 48.38 billion.
The total number of fighters anticipated to produce over the next decade is higher than the number of aircraft produced during the previous 10 years. As nations are striving to enhance their aerial combat capabilities, several countries are upgrading their 2nd and 3rd generation fighter aircraft with new 4th and 5th generation aircraft. Besides, technology advancement in stealth mode, hypersonic speed, and armory precision plays an important role in the market.
Growth Drivers
Augmentation of Existing Aircraft Fleet
Many countries are striving in augmenting their aircraft combat capabilities and upgrading their older generation aircraft such as Mig-21, F-194 and others with newer generation such as F-22, Sukhoi Su-35 and others aircraft having advanced features. Factors such as technology advancement in stealth mode, hypersonic speed, and armory precision are estimated to support the development of a fighter aircraft market.
More Air Support in War-Ravaged Countries
Fighter aircraft are tending to play a crucial role in war-ravaged countries such as Iraq, Afghanistan, Syria, and countries experiencing warfare such as Ukraine, Yemen, and the Democratic Republic of Congo which is anticipated to support the growth of fighter aircraft market over the forecast period.
Challenges
Adoption of Unmanned Aerial Vehicles
The development of unmanned aerial vehicles such as drones, rotor wings, and armed rotorcraft are expected to act as a restraint for the growth of the fighter aircraft market.
Budget Constraints
The budget constraints of a few smaller countries are restraining them to upgrade their aircraft fleet to new generation aircraft, which is anticipated to restrict the growth of the global fighter aircraft market.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
3.5% |
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Base Year Market Size (2023) |
USD 47.06 billion |
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Forecast Year Market Size (2036) |
USD 73.6 billion |
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Regional Scope |
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The market is segmented by aircraft type, take-off & landing and by application. Among these segments, the aircraft type segment is further segmented to fixed-wing and rotorcraft, out of which the fixed-wing segment is anticipated to have the highest growth during the forecast period on account of the development of more advanced and stealthier fixed-wing aircraft, increasing fixed-wing aircraft orders followed by the deliveries during the forecast period. The Lockheed Martin F-35 is anticipated to be the largest fighter program over the decade on account of its tactical fighter of choice for the U.S. Army, Naval and Marine Corps. A significant number of fighter aircraft are expected to roll off the production line in the next 10 years, out of which the F-35s is anticipated to hold a significant share of the fighter aircraft market. The F-16 fighter aircraft has received a constant technological upgrade over the decade and becomes the first choice for the nations in Eastern Europe and Asia that want to purchase the American fighter but are unable to afford the F-35 aircraft.
Our in-depth analysis of the global market includes the following segments
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By Aircraft Type |
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By Take-off and Landing |
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By Generation
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By Application
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Regionally, the fighter aircraft market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America industry is anticipated to hold largest revenue share by 2036, on account of upgrading the aircraft fleet in the USAF (the United States Air Force) and to deal with the increase aircraft fleet in Russian and Chinese Air Force. Russian’s United Aircraft Cooperation (UAC) continues to supply the fighters to the nations outside the U.S. and European defense spheres whereas China is anticipated to gradually build market in Asia and Africa by offering the JF-17 lighter fighter aircraft in cooperation with Pakistan’s PAC on the export market.
Author Credits: Dhruv Bhatia
Copyright © 2024 Research Nester. All Rights Reserved
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