Market Size of asia-pacific military aviation Industry
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 13.30 Billion |
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Market Size (2030) | USD 19.31 Billion |
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Largest Share by Sub Aircraft Type | Fixed-Wing Aircraft |
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CAGR (2024 - 2030) | 6.41 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Military Aviation Market Analysis
The Asia-Pacific Military Aviation Market size is estimated at 13.30 billion USD in 2024, and is expected to reach 19.31 billion USD by 2030, growing at a CAGR of 6.41% during the forecast period (2024-2030).
13.3 B
Market Size in 2024 (USD)
19.3 B
Market Size in 2030 (USD)
1539
Total Deliveries in the Historic Period (2017-2023)
2362
Total Deliveries during the Forecast Period (2024-2030)
Largest Market by Sub-Aircraft Type
76.59 %
value share, Fixed-Wing Aircraft, 2023
The country's focus on enhancing its combat capabilities by procuring technologically advanced combat aircraft drives the market's growth.
Fastest-growing Market by Sub-Aircraft Type
7.95 %
Projected CAGR, Fixed-Wing Aircraft, 2024-2030
Rising geopolitical tensions and border conflicts between the countries in the region are driving the procurement of advanced multirole aircraft to enhance their combat superiority.
Largest Market by Body Type
43.69 %
value share, Multi-Role Aircraft, 2023
The ability to perform ground strikes, air superiority, suppression of enemy air defenses, and electronic warfare missions is driving the procurement of advanced multirole aircraft.
Largest Market by Country
32.54 %
value share, China, 2023
Several border issues with neighboring countries and the increased threat of terrorism have prompted the country to spend a huge amount on its military equipment.
Leading Market Player
24.91 %
market share, Lockheed Martin Corporation, 2022
The company's ability to provide its most advanced fighter jets with superior lethality, connectivity, and survivability is driving it to capture a major market share.
The fixed-wing aircraft segment is anticipated to dominate the region's military aircraft procurement, driven by rising military expenditure in fleet expansion
- The Asia-Pacific Combined Military Expenditure (AMCE) amounted to USD 575 billion in 2022. This is a surge of 2.7%. Due to the expansion of the defense industries in East Asian countries, including Japan, South Korea, Taiwan, and Singapore, as well as China and India, defense budgets may continue to rise. Spending on the military in the region increased by more than 2.5%, surpassing that of Africa and the Americas in terms of growth.
- For instance, India and China increased their military expenditures, with India spending over USD 81.4 billion and China spending USD 292 in 2022. Defense spending also increased in Japan by 6% and Indonesia by 1.3% in 2022. The surge in fleet modernization and expansion programs is one of the major drivers of the increased defense expenditure.
- In terms of operational fleet, the region has the largest fleet of aircraft and rotorcraft, with 14,55 aircraft. Out of these, combat aircraft constitute about 4,989 aircraft, along with 519 special purpose aircraft, 48 tankers, 1,022 transport, and 3,094 training aircraft and helicopters. The fixed-wing aircraft segment is anticipated to occupy a major market share in the overall Asia-Pacific military aviation market during the forecast period. The region's market for fighter aircraft is expected to be driven by rising military spending.
- The demand for fighter aircraft in the region is also being fueled by the military modernization program of most Asian nations to replace their outdated fighter aircraft with newer generation aircraft to enhance their aerial combat capabilities. It is expected around 2600+ military aircraft are expected to be delivered in the region during 2023-30.
The modernization of the defense sector is resulting in an increase in the demand for military aircraft in the region
- In 2022, Asia-Pacific spent a total of USD 572 billion on military expenditure. Over the past few years, terrorist operations have increased in nations like Afghanistan, Pakistan, India, and the Philippines. As a result, more anti-terrorism funding is being made available to combat terrorism at the domestic and international levels. In the coming years, the region's economy is expected to be hampered by the ongoing trade war between China and the United States.
- Territorial disputes in the South China Sea and China's dominance over the Sea are also prompting various countries such as the Philippines, Indonesia, and Malaysia to spend more on their military equipment.
- During the forecast period, China, India, and South Korea are expected to procure the highest number of aircraft. China is expected to procure around 700 aircraft, including 500 Mi-17 helicopters and 200 J-20 fixed-wing aircraft. South Korea is likely to procure 357 aircraft, including 70 fixed-wing aircraft and 287 helicopters. India is expected to procure around 707 aircraft, including 605 fixed-wing aircraft and 102 rotorcraft.
- Some of the other major procurements in the region are Japan's procurement of 283 aircraft, including 133 fixed-wing aircraft and 150 Bell 412 helicopters. Australia is also expected to procure 118 aircraft, including 85 fixed-wing aircraft and 33 rotorcraft.
- During the forecast period, Thailand, Singapore, Malaysia, the Philippines, and Indonesia are projected to procure around 137 aircraft cumulatively. Taiwan is also expected to acquire around 60 aircraft, and Pakistan plans to acquire 44 aircraft during the forecast period.
Asia-Pacific Military Aviation Industry Segmentation
Fixed-Wing Aircraft, Rotorcraft are covered as segments by Sub Aircraft Type. Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Thailand are covered as segments by Country.
- The Asia-Pacific Combined Military Expenditure (AMCE) amounted to USD 575 billion in 2022. This is a surge of 2.7%. Due to the expansion of the defense industries in East Asian countries, including Japan, South Korea, Taiwan, and Singapore, as well as China and India, defense budgets may continue to rise. Spending on the military in the region increased by more than 2.5%, surpassing that of Africa and the Americas in terms of growth.
- For instance, India and China increased their military expenditures, with India spending over USD 81.4 billion and China spending USD 292 in 2022. Defense spending also increased in Japan by 6% and Indonesia by 1.3% in 2022. The surge in fleet modernization and expansion programs is one of the major drivers of the increased defense expenditure.
- In terms of operational fleet, the region has the largest fleet of aircraft and rotorcraft, with 14,55 aircraft. Out of these, combat aircraft constitute about 4,989 aircraft, along with 519 special purpose aircraft, 48 tankers, 1,022 transport, and 3,094 training aircraft and helicopters. The fixed-wing aircraft segment is anticipated to occupy a major market share in the overall Asia-Pacific military aviation market during the forecast period. The region's market for fighter aircraft is expected to be driven by rising military spending.
- The demand for fighter aircraft in the region is also being fueled by the military modernization program of most Asian nations to replace their outdated fighter aircraft with newer generation aircraft to enhance their aerial combat capabilities. It is expected around 2600+ military aircraft are expected to be delivered in the region during 2023-30.
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| Rest of Asia-Pacific |
Asia-Pacific Military Aviation Market Size Summary
The Asia-Pacific military aviation market is poised for significant growth, driven by increased defense spending and modernization efforts across the region. Countries such as China, India, Japan, and South Korea are expanding their military budgets, focusing on enhancing air superiority and modernizing their aircraft fleets. This surge in expenditure is largely attributed to geopolitical tensions, territorial disputes, and the need to replace aging aircraft with next-generation models. The region's military aviation sector is characterized by a substantial fleet of fixed-wing and rotorcraft aircraft, with a notable emphasis on procuring fighter aircraft to bolster aerial combat capabilities. The market is moderately consolidated, with major players like Aviation Industry Corporation of China, Dassault Aviation, Hindustan Aeronautics Limited, Lockheed Martin, and Boeing leading the charge in supplying advanced military aviation solutions.
The forecast period indicates a robust expansion in the Asia-Pacific military aviation market, with significant aircraft deliveries anticipated. The demand for military aircraft is fueled by ongoing modernization programs and the strategic need to address internal and external security challenges. The region's military expenditure is expected to continue its upward trajectory, supported by economic growth and the imperative to maintain a competitive edge in regional conflicts. As countries like China and India ramp up their defense budgets, the market is set to benefit from increased procurement of both fixed-wing and rotorcraft aircraft. This growth trajectory is further bolstered by the strategic alliances and defense partnerships being forged within the region, aiming to enhance collective security and operational readiness.
Asia-Pacific Military Aviation Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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1.1 Sub Aircraft Type
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1.1.1 Fixed-Wing Aircraft
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1.1.1.1 Multi-Role Aircraft
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1.1.1.2 Training Aircraft
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1.1.1.3 Transport Aircraft
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1.1.1.4 Others
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1.1.2 Rotorcraft
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1.1.2.1 Multi-Mission Helicopter
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1.1.2.2 Transport Helicopter
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1.1.2.3 Others
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1.2 Country
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1.2.1 Australia
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1.2.2 China
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1.2.3 India
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1.2.4 Indonesia
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1.2.5 Japan
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1.2.6 Malaysia
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1.2.7 Philippines
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1.2.8 Singapore
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1.2.9 South Korea
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1.2.10 Thailand
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1.2.11 Rest of Asia-Pacific
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Asia-Pacific Military Aviation Market Size FAQs
How big is the Asia-Pacific Military Aviation Market?
The Asia-Pacific Military Aviation Market size is expected to reach USD 13.30 billion in 2024 and grow at a CAGR of 6.41% to reach USD 19.31 billion by 2030.
What is the current Asia-Pacific Military Aviation Market size?
In 2024, the Asia-Pacific Military Aviation Market size is expected to reach USD 13.30 billion.
