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Europe Fighter Aircraft Market Size (2024 - 2029)

The Europe fighter aircraft market is poised for growth, driven by increased military expenditure and modernization efforts across the region. Despite challenges posed by the COVID-19 pandemic, the market's expansion is supported by geopolitical tensions, such as the Russia-Ukraine conflict, which have prompted NATO countries to enhance their aerial capabilities. Investments in advanced fighter aircraft and collaborative development programs are key factors contributing to the market's positive outlook, as nations replace aging fleets with new-generation aircraft to improve combat effectiveness.

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Market Size of Europe Fighter Aircraft Industry

Europe Fighter Aircraft Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 4.00 %
Market Concentration High

Major Players

Europe Fighter Aircraft Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Fighter Aircraft Market Analysis

The Europe fighter aircraft market is anticipated to register a CAGR of more than 4% during the forecast period.

  • The European defense sector was mildly affected by the COVID-19 pandemic. Nevertheless, the military expenditure of the European Union (EU) member states increased from USD 217.83 billion in 2019 to USD 233.62 billion in 2020 despite the pandemic. The market witnessed a slight impact due to a production halt, disruption in supply chains, and a slowdown in the economy. However, the ongoing fleet expansion and modernization initiatives of the nations in the region render a positive outlook for the market during the forecast period.
  • Geopolitical rift across European nations has driven the defense budget and expenditure. The Russia-Ukraine conflict has necessitated North Atlantic Treaty Organization (NATO) countries in the region to modernize their aircraft fleet to counter the supremacy of Russian fighter aircraft such as the SU-35 and SU-57 in case of a full-fledged assault. According to the European Defence Agency (EDA) defense data report, in 2021, the total European defense spending witnessed a 6 percent year-on-year growth to reach EUR 214 billion.
  • To enhance aerial combat capabilities, several nations in the region are upgrading their existing fleets of fighter jets and replacing their aging and obsolete fleet with advanced new-generation aircraft. European nations are investing in the modernization of air combat capabilities. 
  • These investments are driving the advancements in stealth technology and precision weapon development, subsequently driving the market's development. Various collaborative development programs, such as the Future Combat Air System of France, Spain, and Germany and the Tempest Fighter Development Program of the UK, are expected to propel the introduction of advanced fighter aircraft in Europe and replace the existing fleets of Rafales, Typhoons, etc.

Europe Fighter Aircraft Industry Segmentation

A fighter aircraft is termed a high-speed aircraft equipped to carry out air-to-air combat operations and missions. Smaller size, ease of maneuvering, and high speed are some of the features of a fighter aircraft. It can carry heavy payloads, perform electronic warfare and air-to-air combat, and has ground attack capabilities.

The Europe fighter aircraft market is segmented by take-off, landing, and country. By take-off and landing, the market is segmented into conventional take-off and landing aircraft, short take-off and landing aircraft, and vertical take-off and landing aircraft. The market is segmented by country into the United Kingdom, Germany, France, Russia, Italy, and the Rest of Europe.

The market sizing and forecasts have been provided in value (USD billion) for all the above segments.

By Take-off and Landing
Conventional Take-off and Landing Aircraft (CTOL)
Short Take-off and Landing Aircraft (STOL)
Vertical Take-off and Landing Aircraft (VTOL)
Country
United Kingdom
Germany
France
Russia
Italy
Rest of Europe
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Europe Fighter Aircraft Market Size Summary

The Europe fighter aircraft market is poised for growth, driven by increased defense spending and modernization efforts across the region. The geopolitical tensions, particularly the Russia-Ukraine conflict, have prompted NATO countries to enhance their aerial combat capabilities, leading to a surge in demand for advanced fighter aircraft. European nations are investing significantly in upgrading their existing fleets and developing new-generation aircraft, such as the Future Combat Air System and the Tempest Fighter Development Program. These initiatives are expected to replace aging aircraft like Rafales and Typhoons, with a focus on integrating advanced technologies such as stealth and precision weapons. The market is also witnessing a shift towards short take-off and landing (STOL) fighter aircraft, with manufacturers exploring vertical take-off and landing (VTOL) capabilities to enhance operational versatility.

The United Kingdom is anticipated to experience substantial growth in the fighter aircraft market, bolstered by its collaboration with the United States on the F-35 development program and its role as a key foreign customer for the F-35 fleet. The UK's involvement in next-generation fighter jet development with Italy and Japan, along with its leadership in the Tempest Stealth Fighter Project, underscores its commitment to advancing aerial combat technology. The market is characterized by a few dominant players, including Saab AB, Lockheed Martin Corporation, Dassault Aviation, BAE Systems plc, and Airbus SE, who are driving innovation and expansion. As European countries continue to invest in defense and modernize their air forces, the market is expected to see significant growth over the forecast period, with ongoing research and development efforts paving the way for sixth-generation fighter aircraft.

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Europe Fighter Aircraft Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Take-off and Landing

      1. 2.1.1 Conventional Take-off and Landing Aircraft (CTOL)

      2. 2.1.2 Short Take-off and Landing Aircraft (STOL)

      3. 2.1.3 Vertical Take-off and Landing Aircraft (VTOL)

    2. 2.2 Country

      1. 2.2.1 United Kingdom

      2. 2.2.2 Germany

      3. 2.2.3 France

      4. 2.2.4 Russia

      5. 2.2.5 Italy

      6. 2.2.6 Rest of Europe

Europe Fighter Aircraft Market Size FAQs

The Europe Fighter Aircraft Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Saab AB, Lockheed Martin Corporation, Airbus SE, Dassault Aviation and BAE Systems plc are the major companies operating in the Europe Fighter Aircraft Market.

Europe Fighter Aircraft Report Snapshots

Europe Fighter Aircraft Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)