Multi-Role Fighter Aircraft Technology Market is rising rapidly duet to their application in defending the territory from enemies effectively; global multi-role fighter aircraft market has been segmented into application and geography
Albany, NY -- (SBWIRE) -- 04/18/2017 -- Multi-role fighter aircraft are used to perform several roles such as aerial reconnaissance, electronic warfare and forward air control among other tasks. The increasing demand for these aircrafts in developing nations is expected to drive the market in future.
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There are several factors aiding to the demand for multi-role fighter aircraft technology. These aircrafts can be used as a fighter aircraft as well as a ground attack aircraft when compared to air superiority fighters. Moreover, these aircrafts are lighter compared to other aircrafts and hence have the advantage during warfare. In addition, the multi-role fighter aircrafts are easy to maintain. Moreover, the multi-role fighter aircrafts are also cost effective and can be purchased in large numbers. The other factors which are driving the demand for these aircrafts are their application in defending the territory from enemies effectively and its fast scramble time due to its light weight. The above factors are expected to drive the demand for these aircrafts during the forecast period. The rising demand for these aircrasfts are going the directly drive the market for multi-role fighter aircraft technology globally.
However, there are some factors which are expected to hinder the growth of this market to a certain extent. The multi-role fighter aircrafts are less powerful compared to other aircrafts. In addition, the aircrafts are equipped with payloads which are more focused in detecting and defending heat seeking missiles. These factors are pulling the demand for this technology during the forecast period.
However, ongoing technological innovations are expected increase the functionalities of the aircrafts and reduce the disadvantages largely. The report for multi-role fighter aircraft technology will include a detailed analysis of the drivers, restraints and opportunity present in the global market. In addition, the porter's five forces will also be provided to give a better understanding the external forces present in the market. Going further, the market attractiveness analysis will identify the most attractive segment in the market and its opportunity in the future.
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The global multi-role fighter aircraft market has been segmented into application and geography. In terms of applications, the global multi-role fighter aircraft technology can be segregated into electronic warfare, aerial reconnaissance, air interdiction, close air support and suppression of enemy air defense among other applications. The close air support and aerial reconnaissance is expected to dominate the market during the forecast period owing to the increasing application of these aircraft for air defense in developing regions such as Asia Pacific and Middle East and Africa. However, the rising concern for electronic warfare is expected to increase the demand for this technology in this application in future. Hence the segment is expected to witness robust growth during the forecast period.
By geography, the global multi-role fighter aircraft technology market can be bifurcated into five strategic regions which include North America, Europe, Asia Pacific, Middle East and Africa and Latin America among others. The market for multi-role fighter aircraft technology is expected to remain dominant in North America and Europe due to the major presence of manufacturers in this region. Furthermore, the defense agencies in these regions are constantly upgrading their security perimeters due to rising terrorist activities. However, the emerging economies such as India and China are investing heavily and purchasing multi-role fighter aircrafts for defense applications. Hence the Asia Pacific market is expected to witness promising growth during the forecast period.
The global multi-role fighter aircraft technology market is witnessing intense competition from leading players. Some of the major players in the market include Lockheed Martin Corporation, McDonnell Douglas, Chengdu Aircraft Industry Group, Dassault Aviation SA, Hindustan Aeronautics Limited, Mitsubishi Group, Korea Aerospace Industries, Sukhoi and Saab Group among other manufacturers.