Market Trends of Aircraft Weapons Industry
Rotorcraft Segment is Expected to Witness Significant Growth During The Forecast Period
The rotorcraft segment is poised for substantial growth during the forecast period. Presently, many countries are enhancing their helicopters with advanced weapon systems. Notably, several nations are focused on bolstering their arsenals with versatile attack helicopters.
Illustratively, in October 2022, the Indian Air Force bolstered its capabilities by inducting the first batch of domestically produced Light Combat Helicopters (LCH). These LCHs, crafted by Hindustan Aeronautics Ltd (HAL), are tailored for high-altitude operations and boast a versatile armament suite, including various missiles.
The LCH, with its agility, extended range, and all-weather combat prowess, is adept at a spectrum of missions. The helicopter is a versatile asset, from combat search and rescue to counterinsurgency and even high-altitude bunker-busting. Furthermore, integrating aircraft into network-centric warfare (NCW) systems reshapes modern military strategies. NCW, by harnessing information technologies, enables seamless data sharing and enhances decision-making, not just between aircraft but also between ground and naval forces. Given these advancements, the market outlook for rotorcrafts in the aircraft weapons sector is optimistic, with a clear trajectory towards growth.
Asia Pacific Region is Expected to Witness Significant Growth During The Forecast Period
During the forecast period, the Asia Pacific region is poised for significant growth, primarily driven by heightened military expenditures from key nations like China, India, Japan, and Indonesia. These outlays are largely responses to escalating territorial disputes and political tensions on land and at sea.
As these countries bolster their air capabilities with new fighter jets and attack helicopters, the demand for aircraft weapons in the region is rising. Notably, while being self-sufficient in aircraft manufacturing, China and India also import fighter jets from Western nations.
Presently, China's fleet boasts 1,232 fighter aircraft, while India's stands at 538. Both nations are actively modernizing their fleets, with India set to introduce 123 Tejas Mark IA aircraft, having already ordered 83 for the Indian Air Force. Similarly, Taiwan is eyeing fighter aircraft acquisitions from the US. Given these robust procurement strategies, the regional aircraft weapons market is poised for substantial growth in the coming years.
