Sunday, 6 May 2012

The Global Military Aircraft Market 2011–2021

London, May 6th, 2012 - Despite expected budget cuts in the forecast period, North America is expected to account for the largest share of the total global expenditure on military aircraft during this time, at 42.9%. The high demand in this region is primarily driven by the development of 2,456 F-35 multi-role fighter aircraft, as part of the Joint Strike Fighter program and 452 V-22 Osprey transport aircraft. Europe and Asia are also expected to account for a significant portion of the total military aircraft during the forecast period, with shares of 24.1% and 21.8% respectively.
Many countries are expected to replace their ageing military aircraft fleet during the forecast period. The wars in Afghanistan and Iraq have meant that the US, which is the biggest market for military aircraft and other allied countries in Europe, Asia-Pacific, Latin America and the Middle East, need to replace their aircraft which have been in continuous use over the last decade.
The global environment is characterized by ongoing tensions and conflicts among various countries around the world which is supporting demand for military aircraft. Historically, countries follow a policy of enhancing their military as a deterrent to hostile nations and consequently the military aircraft market is recording strong growth despite the commercial aircraft industry exhibiting a downward trend. The market for advanced trainer aircraft across the globe is growing, which is attributed to the significant number of countries involved in the process of upgrading to next-generation combat aircraft fleets. In meeting this growing demand, manufacturers are developing trainer aircraft that are able to perform a number of training roles for the armed forces of the countries involved in the procurement process.
The global economic slowdown has reduced military expenditure worldwide, as a consequence of which a significant number of countries are establishing joint projects in order to share R&D costs. Partnerships between defense firms have also increased as a significant number of countries are investing in the development of their domestic military aircraft development capabilities, by establishing strategic alliances and technology-transfer agreements with global military aircraft manufacturers.
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