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LONDON, GREATER LONDON, UNITED KINGDOM, June 17, 2025 /EINPresswire.com/ -- The military multirole aircraft market is set to grow from $39.37 billion in 2024 to an expected $41.28 billion in 2025 at a compound annual growth rate CAGR of 4.8%. This growth during the historical period can be attributed to a multitude of factors including escalating global tensions, increasing defense budgets, rising demand for versatile combat platforms, expanding cross-border conflicts, and the increasing procurement efforts by developing nations.
What Is The Projected Market Size And Growth Rate For The Military Multirole Aircraft Market?
The market is projected to witness steady growth in the coming years, growing from $41.28 billion in 2025 to a substantial $49.41 billion in 2029 at a CAGR of 4.6%. The growth in the forecast period is projected to be fuelled by focuses on fifth and sixth-generation fighter jets, increasing demand for multirole flexibility, emphasis on indigenous defense manufacturing, the modernisation of air forces in emerging economies, and surging investment in unmanned multirole aircraft.
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What Is Driving Growth In The Military Multirole Aircraft Market?
Global defense spending is a major growth driver for the military multirole aircraft market. It pertains to the financial resources allocated by governments to maintain and enhance its armed forces while ensuring national security. This includes personnel, equipment procurement, operations, and defense-related research. The increase in global defense spending is fuelled by elevating global tensions, territorial disputes, and the need to modernise ageing military systems. Such increases significantly stimulate the military multirole aircraft market, with governments able to invest more in versatile, advanced platforms that offer cost efficiency, operational flexibility, and force projection capabilities.
Who Are The Key Players In The Military Multirole Aircraft Market?
The military multirole aircraft market is populated by major companies like Aviation Industry Corporation of China Ltd., Airbus SE, Boeing Company, Lockheed Martin Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., Rostec, Leonardo S.p.A., Textron Inc., Dassault Aviation SA, Bombardier Inc., Chengdu Aircraft Industry Group, United Aircraft Corporation, Israel Aerospace Industries Ltd., Embraer Defense & Security, BAE Systems plc, SAAB AB, Hindustan Aeronautics Limited, Korea Aerospace Industries Ltd., and Turkish Aerospace Industries Inc.
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What Are The Emerging Trends In The Military Multirole Aircraft Market?
Significant industry players are investing efforts into developing advanced products like stealth technologies to enhance survivability and reduce radar detection in hostile environments. A key example is the US-based Lockheed Martin Corporation launching the F-35A Lightning II variant for the Israeli Air Force in December 2023.
How Is The Military Multirole Aircraft Market Segmented?
The military multirole aircraft market is segmented by aircraft type into single-engine aircraft, twin-engine aircraft, and multi-engine aircraft. It is further segmented by roles such as air-to-air combat, air-to-ground combat, electronic warfare, reconnaissance, training, and by application into aerial reconnaissance, forward air control, air interdiction, air defense suppression, close air support, aerial combat, and electronic warfare aircraft.
How Does The Military Multirole Aircraft Market Differ By Region?
Geographically, North America was the largest region in the military multirole aircraft market in 2024. However, in the forthcoming period, Asia-Pacific is expected to emerge as the fastest-growing region.
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