Asia-Pacific global military fixed wing market valued US$42.2 billion by 2031

The fixed-wing market in APAC is currently worth US$35.5 billion and is projected to value US$42.2 billion by 2031, growing at a compound annual growth rate of 1.77 per cent. Of the different military-fixed wing segments, multi-role aircraft will receive the largest share throughout the forecast period in the APAC region.

According to analytics company GlobalData’s report, The Global Military Fixed-wing Aircraft Market 2021-2031, reveals that the military fixed-wing market in APAC will be dominated by China throughout the forecast period, followed by India. China’s fixed-wing aircraft market is estimated to grow from US$10.5 billion in 2021 to US$23.1 billion by 2031, while India’s market is expected to grow to US$8.8 billion in 2031 from US$7.3 billion in 2021.

Ambition for dominance

Fatima Germanwala, Aerospace & Defense Analyst at GlobalData, commentsed: “China’s investment in the military fixed wing sector is driven by its ambition for dominance in the APAC region and to keep up with US military advancements. For India, Chinese intrusion along the Line of Actual Control throughout 2020-2021 on the western front and border conflicts with Pakistan towards the eastern front has reinforced its focus on a two-front threat, leading to an increased focus towards military preparedness.”

Countering emerging threats

India, on the other hand, is aiming to replace its aging Mig-21, Mig-27, and Jaguars by procuring 4.5 generation aircraft such as the Tejas MK1A and develop further variants of the model. While the Indian Air Force is due to receive all its Rafale fighter jets by 2022, the Indian Ministry of Defence will continue to induct aircraft of all segments to counter emerging threats and mitigate against changing strategic challenges.