Utility Aircraft Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 202.41 Billion |
| Market Size (2029) | USD 258.12 Billion |
| CAGR (2024 - 2029) | 4.98 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Utility Aircraft Market Analysis
The Utility Aircraft Market size is estimated at USD 202.41 billion in 2024, and is expected to reach USD 258.12 billion by 2029, growing at a CAGR of 4.98% during the forecast period (2024-2029).
The advantage of using utility aircraft is supporting its demand in the market. It can be used in different ways according to the situational demand, like transporting people and other supplies. The same aircraft can be used in place of big and heavy (specialized) aircraft when they are not available.
The primary factors driving growth for the market are military modernization programs and increased spending of several nations to enhance their aircraft fleets and replace old aircraft, the increasing use of aircraft in different fields like firefighting, agriculture, sports activities, and others.
Utility aircraft are required to meet several safety and environmental regulations to be certified for operations. These regulations can be expensive and time-consuming to comply with and can limit the number of aircraft that can be produced that can act as a restraint.
Utility aircraft are used by logistics partners or divisions of e-commerce firms to improve their delivery capacities and capabilities, keeping up with the rising demand for fast delivery and maintaining a competitive position in the market. The government started using utility planes to provide overnight shipping to citizens, and such trends will drive the demand during the forecast period.
Utility Aircraft Market Trends
Rotorcraft to Dominate Market Share During the Forecast Period
There is an increase in the use of rotorcraft due to military conflicts, terrorism, border disputes, territory invasion, and violations. Various countries are procuring and upgrading these helicopters to advanced platforms that enhance operational capabilities, increase safety standards, and ensure interoperability with allied forces. For instance, in December 2021, the French Armament General Directorate (DGA) signed a deal with Airbus Helicopters for the acquisition of 169 H160M utility helicopters under the Light Joint Helicopter program. The delivery of these helicopters will likely start in 2027.
Additionally, in March 2021, Saudi Arabia signed a contract for 25 UH-60M utility helicopters from Sikorsky for the Saudi Arabian National Guard (SANG). All the helicopters are scheduled to be delivered before October 2024 and will be used for a wide range of missions, including air assault, MEDEVAC, CSAR, command and control, and VIP transport.
Additionally, rotorcraft are versatile to use as they are capable of VTOL operations and are even priced lower than their fixed-wing counterparts. Such developments render a positive outlook for the segment during the forecast period.
Asia-Pacific to Register Highest CAGR During the Forecast Period
Owing to the increased spending of the government in the defense sector to replace the old technology under the modernization program of the defense technology and other technological advancements in the economic conditions and activities in the region, the utility aircraft market in the Asia-Pacific region is expected to dominate the global market.
In 2022, Asia-Pacific spent a total of USD 572 billion on military expenditure. Over the past few years, terrorist operations 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 August 2022, the Indian MoD approved the purchase of 12 Light Utility Helicopters (LUH) from Hindustan Aeronautics Ltd (HAL) under the Make in India initiative. The aircraft is expected to perform various combat missions, including anti-submarine and anti-surface warfare, and combat search and rescue.
In June 2020, Japan placed orders with Bell Helicopters for 150 Bell 412 UH-X transport helicopters. Till 2021, three helicopters were delivered, and the remaining aircraft are expected to be delivered by 2039. These multi-purpose helicopters are ordered to replace Japan’s Ground Self-Defense Force’s (JGSDF) current fleet of UH-1J aircraft.
Utility Aircraft Industry Overview
The utility aircraft market is fragmented, with many players accounting for a small market share and competing based on product offerings and pricing strategies. Some of the prominent market players include Bombardier Inc., Leonardo S.p.A., The Boeing Company, Airbus SE., and Textron Inc.
The players in the market are expanding their customer base and entering the market to gain market share. These companies are investing heavily in the research and development of advanced products and technologies that may be used in present and upcoming aircraft. Tire manufacturing companies and aircraft OEMs generally favor long-term contracts. For instance, in June 2022, the US government and Sikorsky, a Lockheed Martin company, signed a five-year contract for 120 H-60M Black Hawk helicopters, with options to reach a total of 255 aircraft to be delivered to the US Army and Foreign Military Sales (FMS) customers. The contract value for expected deliveries is approximately USD 2.3 billion, with a potential value of up to USD 4.4 billion. It will include options for additional aircraft to be fully exercised. The deliveries are scheduled to begin in July and continue through 2027.
Utility Aircraft Market Leaders
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Bombardier Inc.
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Leonardo S.p.A.
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Textron Inc.
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Airbus SE
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The Boeing Company
*Disclaimer: Major Players sorted in no particular order
Utility Aircraft Market News
- March 2023: The Indian Defence Ministry awarded a contract to HAL to procure 6 Dornier aircraft. The latest addition of six aircraft will be procured with an upgraded fuel-efficient engine coupled with a five-bladed composite propeller.
- July 2022: Poland ordered 32 Modern AW149 Helicopters for the Land Forces Aviation. The contract for the purchase of 32 AW149 helicopters amounts to PLN 8,250 million (USD 1 820 million). The helicopters will be delivered by 2029.
Utility Aircraft Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Aircraft Type
- 5.1.1 Rotorcrafts
- 5.1.1.1 Light
- 5.1.1.2 Medium
- 5.1.1.3 Heavy
- 5.1.2 Fixed Wings
- 5.1.2.1 Turboprop
- 5.1.2.2 Turboshaft
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5.2 Application Type
- 5.2.1 Military
- 5.2.2 Civil & Commercial
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Rest of Europe
- 5.3.3 Asia Pacific
- 5.3.3.1 India
- 5.3.3.2 China
- 5.3.3.3 Japan
- 5.3.3.4 South Korea
- 5.3.3.5 Rest of Asia-Pacific
- 5.3.4 Latin America
- 5.3.4.1 Mexico
- 5.3.4.2 Brazil
- 5.3.4.3 Rest of Latin America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Qatar
- 5.3.5.2 United Arab Emirates
- 5.3.5.3 South Africa
- 5.3.5.4 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
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6.2 Company Profiles
- 6.2.1 Lockheed Martin Corporation
- 6.2.2 Airbus SE
- 6.2.3 Bombardier Inc.
- 6.2.4 Textron Inc.
- 6.2.5 Hindustan Aeronautics Limited
- 6.2.6 Leonardo S.p.A.
- 6.2.7 Aviation Industry Corporation of China
- 6.2.8 United Aircraft Corporation
- 6.2.9 The Boeing Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityUtility Aircraft Industry Segmentation
Utility aircraft are general-purpose aircraft used for cargo and passenger transport, peacekeeping, agricultural applications, firefighting, and humanitarian aid. They are also used for military applications like military logistics, air assault, command and control, and troop transportation. The majority of these planes include a limited capacity.
The utility aircraft market is segmented based on aircraft type and application type. By aircraft type, the market is divided into fixed-wing and rotorcraft. By application type, the market is divided into military and civil & commercial. The report also covers the market sizes and forecasts for the utility aircraft market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
| Aircraft Type | Rotorcrafts | Light |
| Medium | ||
| Heavy | ||
| Aircraft Type | Fixed Wings | Turboprop |
| Turboshaft | ||
| Application Type | Military | |
| Civil & Commercial | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | Asia Pacific | India |
| China | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Latin America | Mexico |
| Brazil | ||
| Rest of Latin America | ||
| Geography | Middle-East and Africa | Qatar |
| United Arab Emirates | ||
| South Africa | ||
| Rest of Middle-East and Africa |
Utility Aircraft Market Research FAQs
How big is the Utility Aircraft Market?
The Utility Aircraft Market size is expected to reach USD 202.41 billion in 2024 and grow at a CAGR of 4.98% to reach USD 258.12 billion by 2029.
What is the current Utility Aircraft Market size?
In 2024, the Utility Aircraft Market size is expected to reach USD 202.41 billion.
Who are the key players in Utility Aircraft Market?
Bombardier Inc., Leonardo S.p.A., Textron Inc., Airbus SE and The Boeing Company are the major companies operating in the Utility Aircraft Market.
Which is the fastest growing region in Utility Aircraft Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Utility Aircraft Market?
In 2024, the Asia Pacific accounts for the largest market share in Utility Aircraft Market.
What years does this Utility Aircraft Market cover, and what was the market size in 2023?
In 2023, the Utility Aircraft Market size was estimated at USD 192.33 billion. The report covers the Utility Aircraft Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Utility Aircraft Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Utility Aircraft Industry Report
Statistics for the 2024 Utility Aircraft market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Utility Aircraft analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
