FREMONT, California, June 21, 2018 /PRNewswire/ --
According to a new market intelligence report by BIS Research titled "Fixed-Wing VTOL Aircraft Market, Analysis and Forecast, 2018 - 2028", the global fixed-wing VTOL aircraft market was estimated to be approximately $2 billion in 2017 and is expected to reach $13.6 billion by 2028. The aviation industry mainly offers two types of aircraft such as fixed-wing and rotorcraft, which can be used for military as well as commercial applications. Fixed-wing aircraft are majorly used for commercial air passenger transport to cover longer distances. These can be used for military applications in transporting the troops from place to place. A fixed-wing aircraft requires proper runways for its takeoff and landing. Rotorcraft are another category which is majorly utilized for defense applications including intelligence, surveillance, and reconnaissance, among others. Rotorcraft are best-suited for such applications as they can hover in the air and have vertical takeoff and landing (VTOL) capability. However, rotorcraft are not as fast as compared to the fixed-wing aircraft. Therefore, the combination of both the technologies gives rise to the development of a hybrid aircraft which is named as fixed-wing VTOL aircraft.
Browse 17 market Data Tables and 114 Figures spread through 231 Pages, and in-depth TOC on "Global Fixed-Wing VTOL Aircraft Market"
Fixed-wing VTOL aircraft are capable of vertical takeoff and landing along with the higher endurance and speed due to their aerodynamic structure. After the vertical takeoff, these aircraft transit into a horizontal flight to attain the desired speed and altitude. Fixed-wing VTOL aircraft are more beneficial than the other traditional aircraft as they are not dependent on any runway infrastructure. Furthermore, the manufacturers and research organizations are focused on developing electric fixed-wing VTOL aircraft which is more cost-effective and is commercialized for various industries. This will also help in enhancing the endurance for the requirement of longer flights.
The global fixed-wing VTOL aircraft market is categorized on the basis of types that include fixed-wing VTOL manned aircraft and fixed-wing hybrid VTOL UAVs. The global fixed-wing VTOL manned aircraft market is estimated to grow at a CAGR of 19.5% during the forecast period 2018-2028. Currently, the primary demand for fixed-wing VTOL manned aircraft is from the military application. However, it is expected that ongoing technical advancements will also drive commercial as well as law-enforcement end-users to use fixed-wing VTOL manned aircraft across various other applications. Further, the demand for the global fixed-wing hybrid VTOL UAV market is mainly generated from the commercial end-users. The other industries such as law enforcement and military have also impacted the demand. The market for fixed-wing hybrid VTOL UAVs is estimated to grow at a CAGR of 27.8% by 2028.
Furthermore, the fixed-wing VTOL aircraft have been deployed by various end-users into multiple industries including military, commercial, and law enforcement. The fixed-wing VTOL manned aircraft is currently used for military applications only. The commercial market for fixed-wing hybrid VTOL UAVs is estimated to grow at the highest CAGR of 28.4% during 2018-2028. The major commercial industries that have influenced the demand for fixed-wing hybrid VTOL UAVs include oil and gas, agriculture, infrastructure, and cargo delivery, among others.
According to Sneha Rawal, analyst at BIS Research, "North America is one of the most prominent regions for the growth of the global fixed-wing VTOL aircraft market. In 2017, North America dominated the global fixed-wing VTOL aircraft market with the U.S. acquiring the maximum market share, globally. However, the geographical analysis of this market unveils an immense potential for its growth in the Asia-Pacific region. China is estimated to acquire the largest market share and is expected to witness the highest growth rate in this region during the period 2018-2028. The need for urban mobility is likely to propel the growth of the global fixed-wing VTOL aircraft market in the future."
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The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financial summary, and SWOT analysis. The overall market has been segmented by types and end-users. Fixed-wing VTOL manned aircraft and fixed-wing hybrid VTOL UAVs are the types of the fixed-wing VTOL aircraft. Moreover, end-users include commercial, military, and law enforcement. The report also includes a comprehensive section on the geographical analysis including country analysis for more than 10 different countries.
This report is a meticulous compilation of research on more than 50 players in the fixed-wing VTOL aircraft ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of the leading companies, market participants, and vendors. The report has profiles of around 15 companies which are AeroVironment, Airbus, Arcturus UAV, Aurora Flight Sciences, BAE Systems, Boeing, Leonardo, Lockheed Martin, Israel Aerospace Industries, Textron Inc., ALTI UAS, Autel Robotics, Lilium, XTI Aircraft, and Kitty Hawk, among others.
Key questions answered in the report:
- What are the trends in the global fixed-wing VTOL aircraft market across different regions?
- What are the major driving forces that tend to increase the demand for the fixed-wing VTOL aircraft during the forecast period 2018-2028?
- What are the major challenges inhibiting the growth of the global fixed-wing VTOL aircraft market?
- What was the estimated revenue generated by the global fixed-wing VTOL aircraft market by type in 2017 and what will be the estimates by 2028?
- Which type of the fixed-wing VTOL aircraft (fixed-wing VTOL manned aircraft and fixed-wing hybrid VTOL UAVs) will dominate the market in the coming years?
- Which end-user of the fixed-wing VTOL aircraft market (commercial, military, and law enforcement) will dominate in the coming years?
- What was the total estimated revenue generated by each end-user for different regions in the global fixed-wing VTOL aircraft market in 2017, and what will be the estimates by 2028?
- Who are the key players in the global fixed-wing VTOL aircraft market?
- What are the new strategies adopted by the existing market players to make a mark in the industry?
- What significant opportunities do the fixed-wing VTOL aircraft companies foresee?
- What is the total market share of the leading players in the fixed-wing VTOL aircraft market?
- What are the total estimated units of the global eVTOL aircraft market in 2025, 2030, and 2035, respectively?
About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.
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