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North America has dominated the global military aircraft market for decades owing 53.6% in 2024. With the large defense budgets of countries like the U.S., the region is home to many of the world's largest defense contractors who specialize in military aviation such as Lockheed Martin, Boeing, and Northrop Grumman. These companies have years of experience developing and producing fighters, bombers, transport aircraft as well as unmanned systems for the U.S. military and its allies. Given the massive size of the U.S. defense budget alone, North American OEMs receive significant contracts from the Pentagon which has allowed them to continually invest in R&D and manufacturing capabilities. The region is also a net exporter of military aircraft with countries around the world procuring planes like the F-15, F-16, F-18 from American manufacturers.
Asia Pacific is expected to experience rapid growth in the military aircraft sector. With rising geopolitical tensions and modernization of armed forces, many countries in the region like China, India, and Japan have substantial procurement plans over the next decade. China in particular has demonstrated ambition to reduce its dependence on foreign military equipment by indigenously developing platforms. Several Chinese state-owned aerospace companies have made big investments in 5th generation combat aircraft programs. The high costs of imported planes have led other Asian nations to consider joint development and production programs to lower costs. As defense budgets rise across Asia Pacific, more contracts will be available for aircraft, helicopters, and associated services, which is drawing the attention of global OEMs. The region's burgeoning aviation and industrial sectors also provide opportunities for co-production and partnerships to gain a foothold in this fast-growing market.
Military Aircraft Market Report Snapshots
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