3.5% CAGR For Special Mission Aircraft Market Forecast to 2020 Dominated by North America

Press Release   •   May 24, 2016 10:23 EDT

The special mission aircraft market size is estimated to grow from $10.49 billion in 2015 to $12.49 billion by 2020, at a CAGR of 3.5% from 2015 to 2020. The special mission aircraft market exhibits a lucrative growth potential in the regions of APAC, Africa, and the Middle East. This is due to the ongoing conflicts and the territorial disputes in these regions. The market is further driven by the increase in defense spending of developing nations such as China, India, and Brazil. Complete report on special mission aircraft market spread across 123 pages, profiling 07 companies and supported with 66 tables and 65 figures is now available at http://www.rnrmarketresearch.com/special-mission-aircraft-market-by-operation-air-force-naval-army-by-application-isr-maritime-patrol-anti-surface-warfare-anti-submarine-warfare-airborne-warning-control-search-rescue-refueling-an-st-to-2020-market-report.html .

Increase in terrorism & rising insurgencies is the main reason behind the rise in growth of special mission aircraft market. Intelligence, Surveillance & Reconnaissance (ISR) application is expected to gain maximum traction during the forecast period. The Intelligence, Surveillance & Reconnaissance (ISR) application is estimated to contribute the largest market share during the forecast period. Middle East and North Africa region accounts for more than 50% of the world’s oil reserves. Aerial surveillance, maritime patrol, and ISR could be used in order to discover marine oil spills, assess the location, extent and severity of spills, and to monitor the spread and movement. It is predicted that this market is going to be fueled by impressive economic growth and continued high levels of foreign direct investment.

The Air forces segment, especially the U.S. Air Force, is expected to contribute the largest market share to the special mission aircraft market. The U.S. Air Force is the most powerful air force of the world. It alone holds approximately 757 special mission aircraft, followed by Japan, China, Russia and India. Japan and China have 132 and 131 special mission aircraft respectively. Air force segment holds the largest share of this market as various specialized missions such as surgical strikes, disaster relief, transport of VVIPs, and others are carried out using these aircraft all around the world. Ask for sample report at http://www.rnrmarketresearch.com/contacts/request-sample?rname=544797 .

North America is expected to dominate the special mission aircraft market during the forecast period. North America is estimated to account for the largest share of the global special mission aircraft market. In recent years, Asia-Pacific region has witnessed significant economic growth with increasing security requirements. Rise in inter dependencies linked to commercial trade, partnerships, and treaty obligations have increased complications and impacted overall military and economic balances. As a result, demand for special mission aircraft is growing in this region in order to monitor suspicious activities, gathering information over battlefields, patrolling oceans, monitoring navigational systems, and so on.

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (55%), Tier 2 (20%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (60%), Director Level (25%), and others (15%) from various key organizations operating in the special mission aircraft market. The primary interviews were conducted worldwide covering regions such as North America (30%), Europe (20%) and APAC (50%).

The various key special mission aircraft market vendors and service providers profiled in the report are Lockheed Martin Corporation, Northrop Grumman Corporation, SAAB AB, Israel Aerospace Industry Ltd., Textron Inc., Boeing and Bombardier Inc. Ask for Discount on “Special Mission Aircraft Market by Operation (Air Force, Naval, Army), by Application (ISR, Maritime Patrol, Anti-Surface Warfare & Anti-Submarine Warfare, Airborne Warning & Control, Search & Rescue, Refueling), and by Region - Global Forecast to 2020” research report at http://www.rnrmarketresearch.com/contacts/discount?rname=544797 .

Special mission aircraft represents a diverse segment of the military aircraft market. Although this segment includes maritime patrol aircraft designed for direct combat with enemy forces, it is dominated by aircraft that are designed to support and increase the effectiveness of combat aircraft in operations against the enemy. The market for new special mission aircraft is expected to be relatively stable for the next decade. The potential customer base is limited in size due to the expense of procuring special mission aircraft.

On a related note, another research titled Small Satellite Market Global Forecast to 2021 says, the small satellite market is expected to grow from USD 2.22 billion in 2016 to USD 5.32 billion by 2021, at a CAGR of 19.14% from 2016 to 2021. Microsatellite segment based on class to witness the highest growth during the forecast period. The Asia-Pacific region is expected to exhibit the highest growth rate in the small satellite market during the forecast period from 2016 to 2021. Companies like Sierra Nevada Corporation, ST Engineering Limited, Surrey Satellite Technology Ltd., Planet Labs Inc., Airbus Defense and Space, Northrop Grumman Corporation, Space Exploration Technologies Corp. (SpaceX), Boeing, Thales Alenia Space, Millennium Space System Inc., Lockheed Martin Corporation , Geo Optics Inc., One Web Ltd, OHB, Harris Corporation, Spire Global Inc., and Aerospace Corporation have been profiled in this 131 pages research report available at http://www.rnrmarketresearch.com/small-satellite-market-by-type-nano-mini-microsatellite-by-application-earth-observation-meteorology-scientific-research-exploration-surveillance-security-and-others-by-end-user-by-geography-gl-st-to-2021-market-report.html .

Explore more reports on Defense market at http://www.rnrmarketresearch.com/reports/public-sector/defense .

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