North America Tilt Rotor Aircraft Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Unmanned Aerial Vehicle and Manned Aerial Vehicle) and End User (Civil and Military)

Manned Aerial Vehicle Segment to Dominate North America Tilt Rotor Aircraft Market during 2020-2028.

According to a new market research study on “North America Tilt Rotor Aircraft Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Type and End-user,” is expected to reach US$ 1,506.46 million by 2028 from US$ 854.02 million in 2021. The market is estimated to grow at a CAGR of 8.4% from 2021 to 2028. The report provides trends prevailing in the North America tilt rotor aircraft market along with the drivers and restraints pertaining to the market growth. Lower Operating Cost of tilt rotor aircraft are the major factor driving the growth of the North America tilt rotor aircraft market. However, Limited adoption by armed forces of major countries hinder the growth of North America tilt rotor aircraft market.

North American market suffered substantial economic loss in the first half of 2020 owing to the high number of COVID-19 cases, specifically in the US. The economic growth had slowed, which delayed the ongoing projects of military and defense up-gradation. The US is one of the major exporters of arms products, but due to the disrupted supply chain and lower economic conditions of importing countries, export revenue is reduced. Enhancing trade relations to support international supply post lockdown helped the market to regain its position. The limited workforce strength due to the physical distancing model hampered the production activities in-country. Also, the disruption in defense electronics supply chain caused hindered the growth of the US tilt rotor aircraft market.

The North America tilt rotor aircraft market is segmented based on type, End-user, and country. Based on type, the tilt rotor aircraft market is segmented into manned aerial vehicles and unmanned aerial vehicles. The manned aerial vehicles segment held the largest share in 2020. Based on End-user, the tilt rotor aircraft market is segmented as civil and military. The military segment held the largest share in 2020 based.

BAE Systems plc, Bell Textron Inc, Boeing, Honeywell International Inc. Israel Aerospace Industries Ltd. Leonardo S.p.A, Lockheed Martin Corporation, and Northrop Grumman Corporation are among the leading companies in the North America tilt rotor aircraft market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, US Department of Defense awarded Bell-Boeing a US$ 4.2 billion fixed-price multiyear contract modification for the production and delivery of 58 Ospreys, including four for the government of Japan.

The report segments the North America Tilt Rotor Aircraft Market as follows:

North America Tilt Rotor Aircraft Market - By Type

• Unmanned Aerial Vehicle
• Manned Aerial Vehicle

North America Tilt Rotor Aircraft Market - By End-user

• Civil
• Military

North America Tilt Rotor Aircraft Market - By Country

• US
• Canada
• Mexico

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