PUBLISHER: IMARC | PRODUCT CODE: 1468064
PUBLISHER: IMARC | PRODUCT CODE: 1468064
The global military vertical take-off and landing aircraft market size reached US$ 44.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 84.1 Billion by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032.
Military vertical take-off and landing (VTOL) aircraft operates, takes off and lands from the same place, small pad or unprepared site without the requirement of a long runway. It contains lightweight and efficient turbofans and can perform more maneuvers compared to conventional aircraft. It is widely utilized to transport troops quickly, easily and safely from a base location or aircraft carriers to battlefronts. It is also used for providing essential supplies to victims of natural calamities during rescue missions. Presently, VTOL unmanned aerial vehicles (UAVs), such as drones, that use electric motors are gaining widespread adoption in the defense and military sector worldwide as they are more energy-efficient than jet engines.
With rising international border disputes, governing agencies of several counties are procuring and replacing existing aircraft with next-generation military equipment and weapons. This represents one of the major factors propelling the market growth. Moreover, as VTOL UAVs can land in difficult and compact areas, they are used in counterterrorism to provide surveillance and tracking terrorism activities in remote areas. Apart from this, the rising demand for military aircraft that can operate from austere bases and in the front-line combat zone is influencing the market growth positively. Their demand is also increasing in natural disaster vulnerable areas to mitigate the damage. Furthermore, due to the rising environmental concerns, manufacturers are using different technologies and production strategies to develop hybrid-electric VTOL aircraft with effective aerodynamic forces and reduced operating costs.
IMARC Group provides an analysis of the key trends in each sub-segment of the global military vertical take-off and landing aircraft market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on aircraft type, application and end user.
Rotorcraft
Powered-Lift
Combat Operations
Agriculture and Mining
Border Management
Battle Damage Management
Others
Military
Civil and Commercial
Homeland Security
Others
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being AeroVironment Inc., Airbus SE (Airbus Group), BAE Systems Plc, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Neva Aerospace Ltd., Northrop Grumman Corporation, Saab AB, Textron Inc. and The Boeing Company.