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Military Transport Aircraft Market Analysis

The Military Transport Market is anticipated to grow at a CAGR of over 7.09% during the forecast period.

The COVID-19 pandemic had a negligible effect on the market conditions for military transport. Owing to the high defense investments by various countries, the procurement of new transport vehicles or replacement of existing vehicles was unaffected and in turn, witnessed an increase in demand. Several countries have exponentially used military non-combat vehicles to offer relief aid and supplies across the world to help the countries to combat the COVID-19 pandemic. Furthermore, the multiple military conflicts across the world have necessitated the use of high-capacity transport vehicles like aircraft and naval vessels to transport refugees and immigrants to be airlifted or transported via waterways to safer places. As a result, high-capacity aircraft like the Lockheed C5, Boeing C-17 Globemaster, and the C146A Wolfhound has witnessed a significant increase in demand, leading to a higher market growth potential.

An increase in demand for rapid transportation of troops to deployment areas, the rapid expansion of defense forces, and the increasing number of military personnel will lead to the government of various countries increasing the acquiring of new and advanced military transport aircraft and thus will lead to a growth in the market. The military transport helicopters can be used for airlifting troops, medical evacuation, firefighting, and rescue missions in harsh environments. In addition to this, increasing warfare situations, political unrest, and growing terrorism across the globe will lead to the market witnessing growth during the forecast period.

Military Transport Aircraft Industry Segmentation

Military transport vehicles are crucial for maintaining supply lines to forward bases that are difficult to reach otherwise. These vehicles are specifically designed to military standards and are rugged versions of their commercial counterparts. Military transport vehicles are generally used to carry troops, staff, (mounted) weapons, supplies, evacuate wounded soldiers, and many other diverse roles. Heavily specialized variants of such vehicles and aircraft can also be used for carrying out strategic and tactical missions. 

The military transport market is segmented by type, application, and geography. By type, the market is segmented into ground transport vehicles, naval transport vessels, and air transport aircraft. By application, the market is segmented into personnel transport, cargo transport, and emergency rescue. By geography, the market covers the developments in North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report offers market size and forecast in terms of value (USD Billion) for all the above segments.