Market Trends of Special Mission Aircraft Industry
Intelligence, Surveillance, and Reconnaissance (ISR) Segment To Dominate Market Share
The intelligence, surveillance, and reconnaissance (ISR) segment currently dominates the market, and it is expected to continue its dominance during the forecast period. The segment includes special mission aircraft used for ISR missions and airborne early warning and control (AEW&C) applications. Similarly, the growing need for monitoring and securing borders against various threats drives the demand for special mission aircraft equipped with ISR capabilities to enhance border surveillance and control. The demand growth of the segment is majorly due to the increased demand for the acquisition of surveillance aircraft due to tensions at land and sea borders for various countries as well as other factors like drug trafficking and high-seas piracy.
For instance, in November 2022, Bombardier Defense received a Global 6000 jet to its US facility, where it will be converted to fit the intelligence-gathering needs of the German military. The aircraft is the first of three Global 6000 business jets to be conjointly modified by the Bombardier and the Lufthansa Technik, as part of Germany’s PEGASUS program. As per the contract, Bombardier will perform major structural modifications to make the jet capable of accommodating a “Kalætron Integral” signal intelligence (SIGINT) system developed by HENSOLDT AG. Once modifications are finished the plane will be moved to the Lufthansa Technik facility where the intelligence-gathering system will be installed. Such fleet modernization plans of the countries are anticipated to propel the growth of the segment during the forecast period.
Asia-Pacific to Witness the Highest Growth During the Forecast Period
The Asia-Pacific region is expected to grow rapidly during the forecast period due to the border tensions and geopolitical issues in the region. With the increasing military spending, countries such as China, India, and Japan are undertaking aircraft fleet modernization programs to enhance their aerial capabilities (including combat readiness and situational awareness.
For instance, in September 2023, the Indian Air Force (IAF) received its first C-295 transport aircraft, reaching a major milestone in IAF's air capabilities. The aircraft is capable of special missions, disaster response, and maritime patrol duties. In September 2021, the IAF ordered a total of 56 planes from Airbus, of which 16 will be imported from Spain and the rest will be manufactured in India and delivered to IAF by 2031. IAF received the first delivery of C-295 aircraft in September 2023. C-295 aircraft will enhance IAF's tactical lift capability along the Pakistan and China border. Such planned procurements during the forecast period are expected to drive the growth of the market.
