Europe Fighter Aircraft Market Size
| 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
*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 Market Trends
Short Take-off and Landing Aircraft Segment to Witness the Highest Growth During the Forecast Period
- The short take-off and landing (STOL) fighter aircraft is expected to show significant growth during the forecast period. STOL fighter aircraft are advanced versatile aerial combat machines that can be deployed at shorter runways in less time. Fighter aircraft manufacturers are focusing on integrating STOL and vertical take-off and landing (VTOL) capabilities in an aircraft. Significant investments have been made in this area in the form of fifth and sixth-generation fighter aircraft development programs.
- For instance, in March 2022, Germany announced its ambitious fleet modernization program to replace the aging Tornado aircraft fleet with F-35s. The country plans to purchase up to 35 F-35s from Lockheed Martin Corporation. Furthermore, in January 2022, Greece signed a contract worth EUR 11.5 billion (USD 13.57 million) with France for six Rafale fighter jets. Thus, growing defense expenditures and rising procurement of STOL fighter jets from the United Kingdom, France, Germany, and other European countries drive the market growth during the forecast period.
The United Kingdom is Expected to Show the Highest Growth During the Forecast Period
- The UK is forecasted to showcase remarkable growth during the forecast period. According to the Stockholm International Peace Research Institute (SIPRI), the nation's annual defense expenditure amounted to USD 68.4 billion in 2021, the highest in the region. The UK is part of the alliance of nations collaborating with the US on the F-35 development program, along with Australia, Canada, Denmark, Italy, the Netherlands, and Norway.
- The F-35 features a significant chunk of components built in the UK, with up to 10-15% of the components of each aircraft being built or developed in the country. In addition, the UK is currently the largest foreign customer for the F-35 program. The country's 138 aircraft will become the largest anticipated foreign fleet of the F-35 once all the aircraft are delivered to the country.
- In December 2022, the UK government announced that the country would develop next-generation fighter jets with Italy and Japan. In addition, the country is planning to develop sixth-generation aircraft programs, like the UK-led Tempest Stealth Fighter Project, for which Sweden and Italy became partners, and the Netherlands also expressed interest. Such programs are expected to drive the market's growth during the forecast period.
Europe Fighter Aircraft Industry Overview
The market is consolidated in nature, with a few players holding significant shares in the market. Some of the key players in the market are Saab AB, Lockheed Martin Corporation, Dassault Aviation, BAE Systems plc, and Airbus SE. Technological advancements and the upgradation of existing fleets are propelling the market. Many fighter aircraft development programs are underway in Europe, which is expected to significantly propel the growth of the players during the forecast period and the following 10 - 15 years.
Russia is working on the YAK 150 prototype capable of vertical take-off and landing. Due to recent advanced developments in aerial warfare, fighter jets are designed for the high-speed interception, electronic warfare (EW), surveillance, breach detection, and other operations. Significant R&D investments may help the development of sixth-generation fighters and bolster the market prospects for the manufacturers of such aircraft during the forecast period.
Europe Fighter Aircraft Market Leaders
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Saab AB
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Lockheed Martin Corporation
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Airbus SE
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Dassault Aviation
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BAE Systems plc
*Disclaimer: Major Players sorted in no particular order
Europe Fighter Aircraft Market News
- December 2022: the German Ministry of Defense (MoD) approved procuring 35 F-35 Lightning II aircraft from Lockheed Martin Corporation. The delivery of the first eight F-35A aircraft is expected to begin by 2026.
- July 2022: The Polish government awarded a USD 3 billion contract to Korea Aerospace Industries (KAI), a South Korean military aircraft manufacturer, for supplying 48 FA-50 light fighter jets and related services, including technical support.
Europe Fighter Aircraft Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Take-off and Landing
5.1.1 Conventional Take-off and Landing Aircraft (CTOL)
5.1.2 Short Take-off and Landing Aircraft (STOL)
5.1.3 Vertical Take-off and Landing Aircraft (VTOL)
5.2 Country
5.2.1 United Kingdom
5.2.2 Germany
5.2.3 France
5.2.4 Russia
5.2.5 Italy
5.2.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Lockheed Martin Corporation
6.1.2 Dassault Aviation
6.1.3 BAE Systems plc
6.1.4 Airbus SE
6.1.5 The Boeing Company
6.1.6 Saab AB
6.1.7 Leonardo S.p.A.
6.1.8 Russian Aircraft Corporation
6.1.9 JSC Sukhoi Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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 |
Europe Fighter Aircraft Market Research FAQs
What is the current Europe Fighter Aircraft Market size?
The Europe Fighter Aircraft Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Europe Fighter Aircraft Market?
Saab AB, Lockheed Martin Corporation, Airbus SE, Dassault Aviation and BAE Systems plc are the major companies operating in the Europe Fighter Aircraft Market.
What years does this Europe Fighter Aircraft Market cover?
The report covers the Europe Fighter Aircraft Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Fighter Aircraft Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Fighter Aircraft Industry Report
Statistics for the 2024 Europe Fighter Aircraft market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Europe Fighter Aircraft analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
