Fixed-wing aircraft is an airplane that flies using wings that creates lift due to the forward airspeed of aircraft and the shape of the wings. It is divided into several classes, including s fighter, bombers, transport, and maritime patrol aircraft. Furthermore, fixed-wing fighter aircraft is designed and developed for both combat and non-combat missions. These aircrafts generally have a long-life span, but they must be upgraded on a regular basis in terms of speed, power & ejection, and stealth mode. The aircraft is propelled by a propeller-or a jet engine-and has fixed wings. These are more commonly used for longer travel distances than rotary-wing aircraft cover because they can fly further before needing to refuel. Furthermore, fixed-wing aircraft have a considerably larger cabin than rotary-wing allowing them to transport more goods, people, and others onboard. furthermore, fixed-wing air ambulances have a benefit of being able to fly in inclement weather, such as fog, that rotary-wing aircraft cannot resulting in less delays. Moreover, these aircraft can fly at higher altitudes, providing a less turbulent ride and more comfortable experience.
COVID-19 Impact Analysis:
Government across the all the major countries have announced a lockdown due to COVID-19 pandemic resulting in the halt of business. This has led to disruption in manufacturing of aircrafts for both defense and commercial sector. Moreover, due to the decline in the economy and increase in the focus on health budget in many countries by reducing their defense budget affecting the demand for fixed wing transport aircraft market. Furthermore, due to the lockdown there was unavailability of raw materials required for manufacturing of fixed wing transport aircraft. Moreover, due to social distancing & travelling restriction norms, there was unavailability of labor required for the manufacturing. Furthermore, due to pandemic a lot of aircraft companies have gone through huge losses and cancelled their orders for new aircraft thus, affecting the demand for fixed wing transport aircraft. Aviation industry is developing sector which had a slight setback due to the pandemic, but it is expected to recover and drive the growth of fixed wing transport aircraft market post pandemic.
Top Impacting Factors
Rise in military budget, rise in travel by air, and rise in R&D for new technology drives the growth of the market.
High maintenance cost and rise in fuel process hinder the growth of the market.
Rise in demand for advance aircraft, surge in application of aircrafts in military, and increase in the demand for lightweight aircraft act as an opportunity for market growth.
Market Trends
Rise in Military Budget
The governments of major countries are investing substantially in the defense sector to strengthen the safety & security of the countries. The increase in security concerns across the national borders is urging the military forces to strengthen their military base and equipment. Moreover, aircraft are used for general purposes, combat & rescue operations, and medical emergencies, which drive the need for military fixed-wing aircraft. For instance, the defense budget of India in FY2021 is $65 billion which was $64 billion in FY2020 and the U.S. defense budget for FY2022 is $715 billion which was $705 billion in FY2021. Furthermore, it is projected that the global defense budget spending would increase by 3% and by 2023 reach $ 2.1 trillion. In 2020, DynCorp International received a $167.6 million contract from the U.S. army for modification to continue logistics support for fixed-wing government aircraft fleets used to transport personnel and cargo. Thus, the rise in government investment in military aircraft is expected to drive the growth of the fixed-wing transport aircraft market.
Key Benefits of the Report:
- This study presents the analytical depiction of the fixed wing transport aircraft market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the fixed wing transport aircraft market.
- The current market is quantitatively analyzed to highlight the growth scenario of the fixed wing transport aircraft market.
- The report provides detailed fixed wing transport aircraft market analysis based on competitive intensity and the competition that will take shape in coming years.
Questions Answered in the Fixed Wing Transport Aircraft Market Research Report:
- Who are the leading market players active in the fixed wing transport aircraft market?
- What would be the detailed impact of COVID-19 on the market?
- What are the current trends that would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the fixed wing transport aircraft market?
- What are the future projections that would help in taking further strategic steps?
Fixed Wing Transport Aircraft Market Report Highlights
| Aspects | Details |
 By Technology |
|
 By Application |
|
 By Region |
|
 Key Market Players | Embraer S.A, The Boeing Company, Shenyang Aircraft, Lockheed Martin, BAE System Plc, Bombardier, Northrop Grumman Corporation, Chengdu Aircraft Industry, Airbus SE, Dassault Aviation S.A. |
Loading Table Of Content...
