Published Date : Dec 19, 2016
Albany, NY, Dec 19, 2016: The report, titled “Global Fighter Aircraft Market 2016–2020” offers insights into the various factors influencing the growth of the global fighter aircraft market and the extent of their impact. It includes a detailed description of the technology, product, and regional segmentation. It also provides a comprehensive study of the competitive landscape of the market. As per the findings of the report, the global fighter aircraft market is poised to expand at a CAGR of more than 4% from 2016 to 2020.
The increasing demand for fuel efficiency and low emissions is paving way for some new initiatives such as modern engine programs, which is working in favor of the growth of the global fighter aircraft market. The growing focus on airborne dominance across the world is fuelling the market. Various countries worldwide are strategizing ways to modernize their airborne defense units by manufacturing or procuring a number of technologically advanced fighter aircrafts. Presently, nearly 14,500 warplanes have been deployed on international skies.
Moreover, several defense authorities are anticipated to replace their existing fighter planes with newer ones to improve their combat readiness. This factor is also playing an instrumental role in augmenting the market. Furthermore, the advent of 3D technology, which is an economical method for designing the internal parts of fighter aircrafts, is opening new avenues for the manufacturers.
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On the basis of geography, the global fighter aircraft market is segmented into the Americas, the Europe, Middle East, and Africa, and Asia Pacific. The EMEA will continue to account for the lion’s share in the market until 2020. The major factor driving the growth of the region is the increasing illegal immigration from countries such as Lebanon and Syria to Europe. These immigrations are escalating the risk of internal insurgency and extremist attacks.
The high competitive rivalry and need of sizeable funds for carrying out extensive research and development are limiting the entry of new players in the global fighter aircraft market. The existing players in the market are increasingly focusing on key areas such as use of breakthrough technologies, in-house manufacturing capabilities, and distribution channels to stay relevant in the market. Moreover, they are compelled to offer cost-effective solutions and technologically advanced fighter aircrafts.
International companies are facing fierce competition from regional players in terms of product quality, cost, aftermarket service, and reliability. The leading players in the global fighter aircraft market are Saab, Lockheed Martin, Boeing, BAE Systems, Airbus Defense and Space. Some of the prominent players are KAI, Alenia Aermacchi, Dassault Aviation, Russian Aircraft Corporation MiG, Chengdu Aircraft Industry, Sukhoi, HAL, and Shenyang Aircraft.
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