The global tilt rotor aircraft market was valued at US$ 992.61 million in 2020 and is projected to reach US$ 1,766.18 million in 2028. The market it expected to grow at a CAGR of 7.47% during 2020-2028.
A tilt rotor aircraft generates its lift and propulsion with the help of rotors that are mounted at the end of the fixed wing. The rotors are vertically tilted to generate lift and further the aircraft gradually gains forward momentum as the rotors are tilted in horizontal direction. Thus, this enables the aircraft to have vertical take-off and landing capability (VTOL) of a rotary wing aircraft and the range & speed of a fixed wing aircraft.
The tilt rotor aircraft market is experiencing growth owing to increasing year-on-year government budgets for national security. Governments across the world are significantly investing in the procurement of advanced state-of-the-art aircraft fleet. To cater to the dynamic challenges of the defense industry, market players are also investing in the development of robust and innovative aircraft, including tilt rotor aircraft. Additionally, the robust adoption of military unmanned aerial vehicles across the world is fueling the growth of the tilt rotor aircraft market.
Impact of COVID-19 Pandemic on Tilt Rotor Aircraft Market
The COVID-19 outbreak has significantly affected the world and is continuing to shatter several countries. Until the outbreak, the defense industry was experiencing substantial growth in terms of production and services. However, the outbreak has disrupted the supply chain. In addition, several governments have deprioritized defense spending; instead, they are investing in technologies to combat the spread of novel coronavirus that causes COVID-19. This factor weakened the production and R&D of various defense equipment during 2020, which hindered the growth of the tilt rotor aircraft market.
The overall tilt rotor aircraft market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the tilt rotor aircraft market with respect to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the tilt rotor aircraft market. A few major players operating in the market are BAE Systems; Bell Textron Inc.; Boeing; Israel Aerospace Industries; Leonardo; Lockheed Martin Corporation; Northrop Grumman Corporation; ROSTEC; and Aviation Industry Corporation of China, Ltd. (AVIC).
Reasons to Buy
A tilt rotor aircraft generates its lift and propulsion with the help of rotors that are mounted at the end of the fixed wing. The rotors are vertically tilted to generate lift and further the aircraft gradually gains forward momentum as the rotors are tilted in horizontal direction. Thus, this enables the aircraft to have vertical take-off and landing capability (VTOL) of a rotary wing aircraft and the range & speed of a fixed wing aircraft.
The tilt rotor aircraft market is experiencing growth owing to increasing year-on-year government budgets for national security. Governments across the world are significantly investing in the procurement of advanced state-of-the-art aircraft fleet. To cater to the dynamic challenges of the defense industry, market players are also investing in the development of robust and innovative aircraft, including tilt rotor aircraft. Additionally, the robust adoption of military unmanned aerial vehicles across the world is fueling the growth of the tilt rotor aircraft market.
Impact of COVID-19 Pandemic on Tilt Rotor Aircraft Market
The COVID-19 outbreak has significantly affected the world and is continuing to shatter several countries. Until the outbreak, the defense industry was experiencing substantial growth in terms of production and services. However, the outbreak has disrupted the supply chain. In addition, several governments have deprioritized defense spending; instead, they are investing in technologies to combat the spread of novel coronavirus that causes COVID-19. This factor weakened the production and R&D of various defense equipment during 2020, which hindered the growth of the tilt rotor aircraft market.
The overall tilt rotor aircraft market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the tilt rotor aircraft market with respect to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the tilt rotor aircraft market. A few major players operating in the market are BAE Systems; Bell Textron Inc.; Boeing; Israel Aerospace Industries; Leonardo; Lockheed Martin Corporation; Northrop Grumman Corporation; ROSTEC; and Aviation Industry Corporation of China, Ltd. (AVIC).
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global tilt rotor aircraft market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global tilt rotor aircraft market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
1. Introduction
3. Research Methodology
4. Tilt Rotor Aircraft Market Landscape
5. Tilt Rotor Aircraft Market - Key Market Dynamics
6. Tilt Rotor Aircraft - Global Market Analysis
7. Tilt Rotor Aircraft Market Revenue and Forecast To 2028 - Type
8. Tilt Rotor Aircraft Market Analysis and Forecast To 2028 - End User
9. Tilt Rotor Aircraft Market - Geographic Analysis
10. Tilt Rotor Aircraft Market - COVID-19 Impact Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Companies Mentioned
A selection of companies mentioned in this report includes:
- BAE Systems
- Bell Textron Inc.
- Boeing
- Honeywell International Inc.
- Israel Aerospace Industries
- Leonardo SPA
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Rostec
- Aviation Industry Corporation of China Ltd.