Special Mission Aircraft Market worth $18.3 billion by 2025

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Special Mission Aircra/ Market worth 18.3
billion by 2025 The report "Special Mission
Aircraft Market by Platform (Military Aviation,
Commercial Aviation, UAV), by Application (ISR,
Command and Control, Combat Support, Air-Launch/
Rocket Launch) by Payload, by End-User, by Point
of Sale, and by Region - Forecast to 2025", size
is projected to grow from USD 13.5 billion in
2020 to USD 18.3 billion by 2025, at a CAGR of
6.2 from 2020 to 2025. The market is driven by
various factors, such as the growing need for
air-to-air refueling to support overseas
deployment and increasing usage of UAVs in
military operations. Download PDF Brochure
https// www.marketsandmarkets.com/pdfdownloadNew
.asp? id23335921 The special mission aircraft
market includes major players Boeing (US),
Lockheed Martin (US), Dassault Aviation (France),
Textron Aviation (US) and Northrop Grumman (US).
These players have spread their business across
various countries includes North America,
Europe, Asia Pacific, Middle East, Africa, and
South America. COVID-19 has impacted their
businesses as well. Industry experts believe
that COVID-19 could affect special mission
aircraft production by 710 globally in
2020. Increasing strategic and tactical operations
in military is driving the growth of Military
Aviation The military aviation segment is
expected to be the largest market by value. The
growth of the military aviation segment of the
special mission aircraft market can be attributed
to the growing demand for special mission
aircraft for usage in various special
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missions carried out by the military forces such
as reconnaissance and surveillance
operations. The air-launch/rocket launch segment
is projected to witness a higher CAGR during the
forecast period Based on application, the
air-launch/rocket launch segment is projected to
be the highest CAGR rate for the special mission
aircraft market during the forecast period. These
special mission aircraft are provided with
capabilities to carry out missions related to
releasing a rocket, missile, or other aircraft
payloads. The payload is often tucked under the
wing of the launch aircraft. The sensors segment
is projected to witness a higher CAGR during the
forecast period Based on the payload type, the
sensors segment is projected to be the highest
CAGR rate for the special mission aircraft market
during the forecast period. The optical sensors
are used for military or law enforcement
applications that include both visible and
infrared sensors. EO/IR systems provide total
situational awareness during day and night and
in low light conditions. Many types of radar are
used in aviation, such as area radars,
surveillance radars, and approach radars. ELINT
sensors support multiple operational
applications such as ESM for situational
awareness and real-time creation of EOB
(Electronic Order of Battle), Early Warning,
Passive Air Situation Picture, and in-depth
analysis of the intercepted signals. The defense
segment is projected to witness a higher CAGR
during the forecast period Based on the end-user,
the defense segment is projected to be the
highest CAGR rate for the special mission
aircraft market during the forecast period.
Military special mission aircraft are used for
ground attack missions, air-to-air combat, and
maritime/ naval attack by defense forces
worldwide. Various federal law enforcement
agencies around the world such as the National
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Security Agency (NSA) (US), Federal Security
Service (FSB) (Russia), National Security
Council (NSC) (India), and Ministry of State
Security (MSS) (China), among others, are using
special mission aircraft for intelligence,
surveillance, and reconnaissance (ISR) and
border protection activities. The North America
market is projected to contribute the largest
share from 2020 to 2025 North America is
projected to be the largest regional share for
the special mission aircraft market during the
forecast period. The US is one of the largest
developers, operators, and exporters of special
mission aircraft and systems, globally, and thus
accounts for a large share of the North American
region in the global special mission aircraft
market. North American countries it is home to
prominent players manufacturing a wide range of
technologically improved avionics systems and
aircraft components. Leading aircraft
manufacturers, such as the Boeing Company and
Textron Inc., and major aircraft system and
component manufacturers, such as Honeywell
Aerospace, Inc., Collins Aerospace, UTC Aerospace
Systems, Woodward, Inc., and Moog Inc., are
headquartered in the US. As per the Stockholm
International Peace Research Institute (SIPRI),
the US was the leading military spender in 2019,
at USD 732 billion, which was as much as the
next eight top military spender countries in
2019. Military contracts acquired by US
companies such as Boeing and Lockheed Martin have
generated substantial revenue for this region in
the market. Boeing (US), Lockheed Martin (US),
Dassault Aviation (France), Textron Aviation
(US) and Northrop Grumman (US), among others,
are some of the leading players operating in the
special mission aircraft market. These players
have adopted various organic and inorganic
growth strategies to strengthen their position
in the market. These include new product
developments, contracts, partnerships,
expansions, agreements, acquisitions,
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and research development (RD) activities
further to expand their presence in the special
mission aircraft market. Dont miss out on
business opportunities in Special Mission
Aircraft Market. Speak to our analyst and gain
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