The global fixed wind market is expected to reach $98.3 billion in 2032, growing at a compound annual growth rate (CAGR) of 3.12% between 2022 and 2032. It will be primarily driven by rapid progress stealth technologies due to a steady increase in military spending by many countries, says GlobalData, a leading data and analytics company.
GlobalData’s latest report,Global Military Fixed Wing Aircraft Market 2022–2032reveals that key trends driving demand for these systems over the next decade will include strong demand for Generation 4+ multi-role aircraft and a focus on indigenous aircraft programs. .
Harsh Deshmukh, associate defense analyst at GlobalData, explained that with “ a growing need for fifth-generation combat aircraft, countries have already begun modernization efforts to replace obsolete fleets with those that will be relevant beyond 2050″.
Mid-life upgrades have focused on extending the life of the fleets up to 10 years, allowing development programs to achieve initial operational capability.
Several countries are focusing on domestic design and production to reduce their reliance on military hardware imports. The high costs of importing foreign aircraft are also pushing some developing countries to undertake military aircraft manufacturing initiatives.
Such local efforts would strengthen the procurement process for the fixed-wing military aircraft market.as evidenced by India’s ongoing purchases of aircraft such as NETRA and Tejas, and China buying its locally developed KJ-600 ISR aircraft.
These countries are focusing on locally produced military aircraft and expanding their in-house platform development capabilities, primarily through technology transfer agreements.
Air force organizations around the world are also working on high-value programs, such as the joint program between Spain, Germany and France for the development of a next-generation fighter (NGF ), the Japanese FX program, the American B-21 Raider and the Indian P-8I ISR aircraft.
The growth of the fighter jet market has been further aided by technological developments in stealth and precision weapons as nations seek to have the most modern combat capabilities.
Apart from a small number of nations, others do not have access to fifth generation aircraft. Therefore, it is expected that during the forecast period there will be an increase in the development and purchase of fifth generation fighters.
Deshmukh concluded that ” fifth-generation fighters usher in new levels of performance, while introducing stealth profiles and advanced avionics. Several indigenous programs are undertaken by developing countries such as India with its AMCA, the TAI TF-X from Türkiye and the SU-75 Checkmate from Russia. On the other hand, the United States dominates space with Lockheed Martin’s F-35”.
“However, due to lower procurement and operating costs compared to fifth-generation aircraft, there will also be significant demand for 4.5-generation multirole combat aircraft, primarily from developing countries. development. »