Military Multirole Aircraft Market Trends

Statistics for the 2023 & 2024 Military Multirole Aircraft market trends, created by Mordor Intelligence™ Industry Reports. Military Multirole Aircraft trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of Military Multirole Aircraft Industry

This section covers the major market trends shaping the Military Multirole Aircraft Market according to our research experts:

Rise in Demand for Multirole Helicopters

Factors such as a rise in anti-piracy operations, search and rescue operations, and surveillance and reconnaissance of long coastal boundaries among developing countries propel the growth of the multirole helicopter market. A multirole helicopter can be deployed for aerial reconnaissance, troop transportation, ground attack, and many other roles, and it costs less than a multirole and air superiority aircraft. They can also operate in unfavorable weather conditions, unlike airplanes. The United States is narrowing down 20 different types of helicopters in its defense fleet to just three types through the Joint Multi-Role (JMR) program. Europe provides a very good opportunity for Multi-Role Helicopter (MRH) manufacturers because of the aging multirole helicopter fleet (nearly 30% of the total fleet of European Union Countries). European countries can also jointly develop a multirole helicopter to save operational and manufacturing costs. In October 2019, Russia gave 2 Tupolev T-160 aircraft to South Africa and signed a deal for selling 12 Mi-35 attack and light troop transport helicopters to Nigeria.

light attack & reconnaissance aircraft market

Asia-Pacific will Exhibit the Highest Growth Rate During the Forecast Period

Countries like China, India, Pakistan, and South Korea are modernizing their military aircraft fleet, which is anticipated to generate new orders for multi-role aircraft in the coming years. Military budget allocation and spending are also expected to play a major role in the multi-role aircraft market. China's and India's defense budget for 2018 were USD 250 billion and USD 66.5 billion, respectively. In October 2019, China introduced the Harbin Z-20 medium-lift multi-role helicopter for land-based and naval operation. It is primarily a transport helicopter, but it will be used for reconnaissance and fighter jet hauling. In 2018, China upgraded its J-10 multi-role aircraft with thrust vectors that allow the aircraft to perform impossible maneuvers. In 2018, China also added a significant number of aircraft in its fleet of J-16 multi-role fighters.

In February 2020, the government of India completed all the work regarding the procurement of 24 Lockheed Martin MH-60R Romeo multi-role helicopters at the cost of USD 2.6 billion. This procurement is a part of fulfilling the requirement for 123 multi-role naval helicopters for the Indian Navy. In May 2019, the Defense Ministry of India approved the deal for procuring 10 Kamov helicopters from Russia. India has signed a deal with Russia for 200 multi-role Kamov 226T helicopters, acquiring 60 helicopters in flyaway conditions and producing 140 helicopters in India with support from Hindustan Aeronautics Limited (HAL).

multirole aircraft market size

Military Multirole Aircraft Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)