The Global Special Mission Aircraft Market was valued at USD 11.37 billion in 2016 and is projected to reach USD 15.98 billion by 2025, growing at a CAGR of 3.85% from 2017 to 2025.
Special mission aircraft are versatile aircraft that can be used by all three sectors of the armed forces for various operations. Special mission aircraft are equipped with surveillance equipment to detect the movement of enemy units but usually lack major offensive weapons. These aircraft have capabilities in areas such as maritime patrol as well as anti-submarine and airborne early warning and control. They can be used in both military and non-military missions.
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1. Market Drivers
1.1 Development of EW counter measure system in aircrafts
1.2 Growing terrorism and insurgencies due to conflict
1.3 Rising investments by governments in defense sector
2. Market Restraints
2.1 Lack of expertise and trained pilots
The Global Special Mission Aircraft Market is segmented on the Application, Operation, and region.
1. By Application:
1.1 Armed Forces
1.2 Aircraft Suppliers
1.3 Aircraft Pilot Training Bodies
1.4 Software/Hardware/Service and Solution Providers
1.6 Ministry of Defense
1.7 Aircraft Manufacturers
1.8 Technology Support Providers
1.9 Regulatory Bodies
1.10 Air Force
1.11 Naval Forces
2. By Operation:
2.2 Air Force
2.3 Naval Force
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. Textron Inc.
2. SAAB AB
3. Northrop Grumman
4. Lockheed Martin Corporation
6. Israel Aerospace Industry Ltd. (IAI)
8. Gulfstream Aerospace
9. Siemens AG
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Special Mission Aircraft Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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