Military Aircraft Market Size, Share & Trends Analysis Report By Military Aircraft Type (Fixed-wing, Rotorcraft) and By Region (North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2026-2034

Military Aircraft Market Size

The global military aircraft market size was valued at USD 60.68 billion in 2025 and is projected to grow from USD 63.45 billion in 2026 to USD 90.72 billion by 2034, registering a CAGR of 4.57% during the forecast period from 2026 to 2034. North America dominated the military aircraft market with a market share of 38.7% in 2025.

Countries are working to improve their aerial combat and support capabilities as tensions between various international powers rise. Many countries are modernizing their current military aircraft or replacing their outdated fleet with newer models. With the increase in global defense spending, the industry has recently seen several procurement and development activities for military aircraft. With the rapid advancement of technology, nations are attempting to improve their aerial combat and support capabilities by purchasing next-generation aircraft with cutting-edge features, which need less maintenance and have lower operating costs. In the years to come, this is anticipated to fuel market expansion.

Aircraft Type Insights

The global military aircraft market is bifurcated into fixed-wing and rotorcraft. The fixed-wing segment is the highest contributor to the market and is expected to grow at a CAGR of 4.50% during the forecast period. A heavier-than-air flying machine, such as an airplane that can fly using wings that provide lift due to the aircraft's forward airspeed and the shape of the wings, is known as a fixed-wing aircraft. Rotor and ornithopter-winged aircraft are different from fixed-wing aircraft. Countries have improved their ability to conduct aerial combat as tensions between various international nations have risen. Many countries have replaced outdated fighter jet fleets with more modern, higher-tech aircraft or updated their current models. In the past several years, the sector has seen extensive procurement and development operations for fighter jets due to the increase in defense spending by several countries worldwide.

The new aircraft would reportedly fly at subsonic speeds and have an operational range of roughly 12,000 kilometers. The new aircraft will reportedly be capable of transporting payloads weighing between 30 and 40 tonnes. We anticipate that some of Russia's latest air-launched hypersonic missiles, including the Kh-47M2 Kinzhal and Kh-95, will be mounted aboard the new bomber aircraft. Russia's fleet of Tu-160M2 supersonic strategic bombers is still being upgraded. By 2030, it's anticipated that Russia's entire new Tu-160M2 fleet of 50 aircraft will have been delivered. Additionally, Russia is modernizing its arsenal of long-range strategic and maritime strike bombers, the Tu-22M3. In total, Russia intends to upgrade 20 of these kinds of aircraft.

A heavier-than-air aircraft having revolving wings or rotor blades that provide lift by spinning around a vertical mast is referred to as rotorcraft or rotary-wing aircraft. Combat or assault helicopters are armed helicopters having the offensive capability of engaging ground targets, including enemy infantry, military vehicles, and fortifications. A rotor is a group of rotor blades mounted on a single mast. They are sometimes referred to as helicopter gunships due to their strong armaments. In the 2015 agreement, Boeing delivered the last five of the 22 Apache attack helicopters to the Indian Air Force in 2020. The US Army and other clients worldwide have purchased aero-structures for the AH-64 Apache helicopter from Boeing's Hyderabad joint venture, Tata Boeing Aerospace Limited (TBAL).

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Regional Analysis

North America: Dominant Region

North America is the most significant global military aircraft market shareholder and is expected to grow at a CAGR of 4.45% during the forecast period. With a proposal to purchase 12 new F-15 EX fighter jets from Boeing, the United States Air Force's USD 4.2 billion budget for aircraft acquisition for FY2022 closes a predicted shortfall as the service sells off its outdated F-15C/D fleet. The Air Force requested funding for 48 F-35 fighter jets that Lockheed Martin has produced over the years, with plans to replace the fleet with the updated Block-4 model. Additionally, in April 2021, the US Air Force announced its FY22 budget, which included a request for funding for 48 F-35 aircraft. A significant portion of the USD 825 million was set aside for the upkeep of armament systems and for purchasing spare parts for repairing and operating aircraft. These factors are expected to drive market growth over the forecast period.

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Asia-Pacific: Growing Region

Asia-Pacific is expected to grow at a CAGR of 5.95%, generating USD 45.67 billion during the forecast period. China spent the world's second-highest amount on its military in 2020, and it is expected to top USD 252 billion in 2022. This indicates a growth of 1.9% from 2019 and 76% from 2011–2022. As it continues to modernize and reinforce its armed forces, China increased its defense expenditure for FY 2021 by 6.8% compared to FY 2020. In addition, the Indian Air Force emphasizes fleet modernization as it strives to become a powerful air force of the highest caliber, equipped with a full range of capabilities to meet the ever-increasing security challenges and confront various threats. The fighter aircraft squadron of India is losing strength. The Indian Air Force only possessed 31 of the sanctioned 42 fighter aircraft squadrons as of March 2021. But during the forecast period, it is expected to gain strength and boost the market in the Asia-Pacific region.

Europe is expected to grow significantly over the forecast period. Regarding military and security initiatives that would directly affect the UK aerospace industry, Brexit has raised questions about the precise nature of the post-Brexit connections. But the nation's ambitions to replace its fleet of outdated transport and marine patrol planes with cutting-edge aviation systems are still going forward. For instance, in February 2021, the Royal Air Force (RAF) withdrew its fleet of Raytheon Sentinel surveillance planes. The Sentinel R.Mk 1 is a radar reconnaissance variant of the Bombardier Global Express business jet designed to give vital intelligence and target tracking while conducting long-range, extensive battlefield surveillance.

With the start of production at a new plant for the Saab Gripen's aerostructures in July 2020, Brazil formally started producing fighter planes. In 2014, Saab was awarded a contract by the Brazilian government to supply 36 Gripen E/F fighter jets. Additionally, the Forca Aeronaval da Marinha do Brasil received the first H225M helicopter in naval combat configuration from Airbus Helicopters' Brazilian subsidiary Helibras in November 2021. In addition, a synthetic aperture radar (SAR) and inverse SAR (ISAR) capable Telephonics AN/APS-143(V3) Ocean Eye surveillance radar was installed aboard the helicopter. Additionally, it has an EWS IDAS-3 countermeasures system and a Thales Chlio electro-optic turret.

List of Key and Emerging Players in Military Aircraft Market