Special Mission Aircraft Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 07/05/2016 -- Global Special Mission Aircraft Market: Overview
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. In combat, special mission aircraft are mainly used to support the active combatants through surveillance and delivery of supplies. Maritime patrol is another major emerging application sector of the global special mission aircraft market.
The report examines the historical trajectory of the special mission aircraft market and presents solid forecasts for the market in the coming years. The major segments of the global special mission aircraft market are examined in the report to provide a granular overview. Reliable research techniques such as SWOT analysis and Porter's five forces analysis are employed in the report, while the competitive dynamics of the market are examined by studying the operations of major players.
Global Special Mission Aircraft Market: Drivers and Restraints
One of the major drivers for the global special mission aircraft market is the increasing geopolitical tension around the world. Due to the growing amount of active engagement, the demand for special mission aircraft is growing due to the crucial role they play in supporting combatants.
Apart from engagements between two nations, the prime factor driving the global demand for special mission aircraft is the increasing need to curb illicit activities such as drug trafficking, piracy, and terrorism. The rise in the consumption of illicit drugs in developed countries has given rise to significant trafficking operations, which are also often connected to more serious evils and thus need to be curbed.
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Piracy is also becoming a serious concern, particularly in regions such as the Indian Ocean. For instance, Piracy in the waters of Somalia has become a major concern for trade operations in the Indian Ocean, apart from adding to the geopolitical tension in the Middle East and Eastern Africa. Marine patrol has thus become a major application segment of the global special mission aircraft market and is expected to exhibit increasing demand in the forecast period.
Global Special Mission Aircraft Market: Segmentation
By application, surveillance was the largest segment of the global special mission aircraft market. Apart from military operations, the demand for special mission aircraft in spotting oil spills and aiding recovery operations for the same is growing at a steady rate and is expected to become a major part of the global special mission aircraft market in the coming years. The air force accounted for the highest demand from the special mission aircraft market, followed by naval units.
Regionally, North America accounted for the highest share in the global special mission aircraft market in 2015. The dominant position of the North America market can be attributed to the high defense spending in the U.S., which has by far the largest air force in the world and thus operates the highest number of special mission aircraft. Japan and China are the other major national markets for special mission aircraft.
Global Special Mission Aircraft Market: Competitive Dynamics
Apart from a detailed look at the segmentation of the global special mission aircraft market, the report looks into the competitive landscape of the market to aid readers in formulating favorable stratagems. Key players profiled in the report include Boeing, Lockheed Martin Corporation, Bombardier Inc., and Northrop Grumman Corporation.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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