Market Trends of Stealth Technologies Industry
Land Segment is Expected to Lead the Market During the Forecast Period
The land segment of the platform is expected to lead the market during the forecast period. Global military powerhouses, such as the United States, the United Kingdom, China, France, and Japan, are competing to achieve a profound reconceptualization of modern warfare techniques. There was a significant increase in the global annual defense spending of these countries in the past five years. The armed forces of every country are developing concepts for employing advanced stealth capabilities in each warfare domain to gain a tactical advantage over its adversaries in the event of armed conflict. Developing countries are facing disputes at borders and thus trying to advance their technologies to secure borders, and safeguard them against the illegal entry of people. This is increasing the demand for military trucks to be used for patrolling land borders. Advancements in electric vehicles may also contribute to stealth by reducing noise and heat. Currently, a team of defense contractors, including SAIC and Lockheed Martin, is working to construct the first U.S. electric tank prototype. Such R&D efforts and technological shifts are expected to drive the market in focus during the forecast period.
Asia-Pacific Will Showcase Remarkable Growth During the Forecast Period
The growth of the stealth technologies market is expected to be highest in Asia-Pacific during the forecast period. The strengthening of the strategic military alliances between the United States and several Asia-Pacific sovereign nations and subsequent reinforcement of military deployment and intervention resulted in a complex scenario, urging rapid modernization of defense capabilities of regional countries, such as China, to safeguard their vested interests. To ensure the combat readiness of existing systems, several armed forces' modernization programs are currently underway to effectively upgrade the capabilities of the regional armed forces for effectively responding to security threats and accomplishing urgent, critical, and dangerous strategic missions. To address the evolving threats, major countries in the region are realigning their military strategies and organizational structures. Cutting-edge technologies, such as artificial intelligence (AI), quantum information, big data, cloud computing, and the Internet of Things (IoT), resulted in the development of long-range precision, intelligent, stealthy, or unmanned weaponry, and equipment, radicalizing traditional warfare in favor of intelligence warfare. On this note, in February 2023, DRDO (India) announced the completion of the development of the Advanced Medium Combat Aircraft (AMCA) fifth-generation stealth, multirole combat aircraft for the Indian Air Force, and is waiting for critical design review. The AMCA Mark 1 will come equipped with 5.5-generation technologies and the Mark 2 will have incremental sixth generation technology upgrades. Similar development initiatives are being deployed by other nations in the region to maintain territorial integrity and preserve national sovereignty.
For instance, in August 2021, the Japanese government in Tokyo outlined its next-generation fighter jet project and selected Mitsubishi Heavy Industries as the main contractor. Such developments are envisioned to drive the growth prospects of the market in focus during the forecast period.
