BIS Research Forecasts Annual Growth At More Than 10 Percent

According to a new market intelligence report by BIS Research, titled "Global Fixed-Wing VTOL Aircraft Market, Analysis & Forecast, 2017 - 2026", the fixed-wing vertical take-off and landing (VTOL) aircraft market is expected to reach $5.3 billion by 2026, growing at a Compound Annual Growth Rate (CAGR) of 10.3% from 2017 to 2026. The emergence of vertical takeoff and landing technologies has enabled the aircraft to be increasingly advanced and increased the degree of ease-of-use in locations that are not fit for runways. The growing demand of VTOL in commercial, law enforcement, and the military market has primarily driven the need for fixed-wing VTOL technology. The emergence of hybrid aircraft designs has made it easier to carry out operations in runway-less areas.

According to the report, fixed-wing VTOL aircraft are rapidly evolving with significant advancements in electric engines. The major leaders of fixed-wing VTOL technologies are actively engaging in the development of larger number of electric aircraft for cost efficiency and longer endurance. According to BIS Research analysis, the global fixed-wing VTOL aircraft market was valued at $1.98 billion in 2016. The increasing demand for fixed-wing VTOL aircraft generated by military for defense and security activities is acting as one of the key driving forces behind this market. Fixed-wing VTOL aircraft are cost-effective, with efficient speed and hovering capability. Such qualities, along with technological advancements in the industry can contribute to the overall growth of fixed-wing VTOL aircraft market.

The advancements in VTOL technology have led the key manufacturers to build state-of-the-art fixed-wing VTOL aircraft that are highly autonomous and are easy to operate. Textron Systems, AeroVironment, Leonardo Group, Boeing, Bell, Airbus and Aurora Flight Sciences are some of the leading producers that utilize advanced VTOL technologies in fixed-wing aircraft.

Fixed-wing VTOL aircraft are categorized on the basis of end-users such as commercial, law enforcement and military. There are certain types of fixed-wing VTOL aircraft that are specific to the applications. For instance, fixed-wing VTOL manned aircraft available in the market are supposed to be used for on-demand commercial air transport. Moreover, fixed-wing hybrid VTOL UAVs are majorly used for industrial and law enforcement applications including inspection, surveillance, reconnaissance, mapping and mining, among others.

"Asia-Pacific (APAC) fixed-wing VTOL aircraft market is expected to witness the fastest growth throughout the forecast period. The increasing military need in the APAC region due to the rising threats from neighboring countries is contributing to the growth of the market," said Sneha Rawal, analyst at BIS Research. "Fixed-wing VTOL aircraft may be in high demand in the areas with affected with infrastructure challenges. Moreover, due to a small number of manufacturing companies in this region, there is a vast scope of opportunities for both the new and the established market players. For instance, the Australian fixed-wing VTOL aircraft market is poised to grow at a higher CAGR of 14% in the coming 10 years. The increasing defense budget of the country is one of the major drivers that could further lead to a higher demand of fixed-wing VTOL aircraft."

The market intelligence report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary and SWOT analysis. The overall market has been segmented by types, namely: fixed-wing VTOL manned aircraft and fixed-wing hybrid VTOL Unmanned Aerial Vehicle (UAV). 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 80 players in the fixed-wing VTOL aircraft ecosystem and draws upon insights from in-depth interviews with key opinion leaders of leading companies, market participants and vendors. The report also profiles 10 companies among which are Textron Systems, Aerovironment, Arcturus UAV, Aurora Flight Science, Airbus Group and Leonardo Group. The report focuses on the emerging startups in fixed-wing VTOL space and provides a snapshot of the products and services of such startups.

(Source: BIS Research news release. Image from file)

FMI: bisresearch.com/industry-report/global-fixed-wing-vtol-aircraft-market-2026.html