Asia-Pacific 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)
Market Introduction
The Asia Pacific market is segmented into China, Japan, and Rest of the APAC. The Rest of APAC consist of India, Australia, and South Korea. The region is characterized by the presence of emerging economies who are significant investing for strong arming their military forces. According to SIPRI, China, India, South Korea, and Japan were among the prominent spenders in military expenditure in 2020, spending US$ 252.0 billion, US$ 72.9 billion, US$ 45.7 billion, and US$ 49.1 billion, respectively. Countries such as China and India together accounted more than 60% of overall military expenditure in the region in 2020. Moreover, the region is currently experiencing significant geopolitical flux. For instance, the South Korea and North Korea territorial stress, South China Sea tension, India and China boarder dispute, India and Pakistan boarder tension, China and Russia dispute over Zhenbao Island, and others is among the factor growing the adoption advance military aircraft. The region is also experiencing rise in domestic production of aircraft. For instance, Commercial Aircraft Corporation of China (COMAC), Hindustan Aeronautics Limited (HAL), Kawasaki Heavy Industries (KAI), Aviation Industry Corporation of China (AVIC), Mitsubishi Aircraft Corporation are some leading aircraft manufacturers who are increasing radically increasing footprints in Asia. Further, the region is increasing inclined to towards adoption of advance military aircraft and unmanned ariel vehicles. Countries are increasingly promoting the domestic as well as global manufacturing of unmanned vehicles. Moreover, China has been supplying armed drones to more than 18 countries over the years. From the tilt rotor aircraft perspective, in 2018, China Aerospace Science and Technology Corp unveiled CH-10, a tilt rotor UAV. Also, Japan ordered Bell-Boeing 17 V-22 Osprey in 2015, and Japan Self-Defense Ground Force received first 2 V-22 Osprey in May 2020. Thus, the growing military spending is one of the major factors creating favourable condition for the adoption of advance military aircraft including tilt rotor aircraft.
The tilt rotor aircraft market in APAC suffered minimal disruption as the number of on-going projects and development of such aircraft models is less. China is one of the prominent countries with a number of projects. The country experienced substantial loss during the 1st quarter of 2020. However, Chinese tilt rotor aircraft manufacturers revived their process and have stabilized their development processes. Apart from China, another development in the tilt rotor aircraft market in 2020 took place in Japan, where the country has taken delivery of two V-22 Osprey from Bell-Boeing in May 2020. This development has also stabilized the regions tilt rotor market.
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Market Overview and Dynamics
The tilt rotor aircraft market in APAC is expected to grow from US$ 87.84 million in 2021 to US$ 136.08 million by 2028; it is estimated to grow at a CAGR of 6.5% from 2021 to 2028. Lower Operating Cost of Tilt Rotor Aircraft; 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. This capability eliminates the need for dedicated landing strip for such aircraft. Also, such aircraft are considered more efficient compared to a rotary wing aircraft when it comes to transporting people and goods within short distance. As rotary wing aircraft are widely used for travelling shorter distance, the operating cost of rotary wing aircraft is generally at higher side compared to fixed wing aircraft. Thus, utilizing tilt rotor aircraft for transportation application enables end users to save significant amount of operation cost. Owing to the aforementioned advantages of tilt rotor aircraft, the market is anticipated to witness steady growth during the forecast period. This is bolstering the growth of the tilt rotor aircraft market.
Key Market Segments
In terms of type, the Manned Aerial Vehicle segment accounted for the largest share of the APAC tilt rotor aircraft market in 2020. In terms of end user type, the Military segment held a larger market share of the tilt rotor aircraft market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the APAC tilt rotor aircraft market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Aviation Industry Corporation of China , BAE Systems plc, Boeing, Honeywell International Inc., Israel Aerospace Industries Ltd., Leonardo S.p.A, Lockheed Martin Corporation, Northrop Grumman Corporatio
Reasons to buy report
- To understand the APAC tilt rotor aircraft market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC tilt rotor aircraft market
- Efficiently plan M&A and partnership deals in APAC Tilt Rotor Aircraft Market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC tilt rotor aircraft market
- Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.
APACTILT ROTOR AIRCRAFT MARKETSEGMENTATION
APAC Tilt Rotor Aircraft Market – By Type
- Unmanned Aerial Vehicle
- Manned Aerial Vehicle
APAC Tilt Rotor Aircraft Market – By End User
- Civil
- Military
APAC Tilt Rotor Aircraft Market, by Country
- China
- Japan
- Rest of APAC
APAC Tilt Rotor Aircraft Market Company Mentioned
- Aviation Industry Corporation of China, Ltd. (AVIC)
- BAE Systems plc
- Boeing
- Honeywell International Inc.
- Israel Aerospace Industries Ltd.
- Leonardo S.p.A
- Lockheed Martin Corporation
- Northrop Grumman Corporation
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Tilt Rotor Aircraft Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
5. APAC Tilt Rotor Aircraft Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Lower Operating Cost of Tilt Rotor Aircraft
5.1.2 Boom in Military Spending for Procurement of Advanced Aircraft
5.2 Market Restraints
5.2.1 Narrow Adoption by Armed Forces of Major Countries
5.3 Market Opportunities
5.3.1 Rise of Unmanned Tilt Rotor Aircraft
5.4 Future Trends
5.4.1 Evolution of Tilt Rotor Aircraft for Civil Application
5.5 Impact Analysis of Drivers and Restraints
6. Tilt Rotor Aircraft – APAC Market Analysis
6.1 APAC Tilt Rotor Aircraft Market Overview
6.2 APAC Tilt Rotor Aircraft Market Revenue Forecast and Analysis
7. APAC Tilt Rotor Aircraft Market Revenue and Forecast To 2028 – Type
7.1 Overview
7.2 APAC Tilt Rotor Aircraft Market, By Type (2020 & 2028)
7.3 Unmanned Aerial Vehicle
7.3.1 Overview
7.3.2 Unmanned Aerial Vehicle: APAC Tilt Rotor Aircraft Market Revenue and Forecast to 2028 (US$ Million)
7.4 Manned Aerial Vehicle
7.4.1 Overview
7.4.2 Manned Aerial Vehicle: APAC Tilt Rotor Aircraft Market Revenue and Forecast to 2028 (US$ Million)
8. APAC Tilt Rotor Aircraft Market Analysis and Forecast To 2028 – End User
8.1 Overview
8.2 APAC Tilt Rotor Aircraft Market, By End User (2020 & 2028)
8.3 Civil
8.3.1 Overview
8.3.2 Civil: APAC Tilt Rotor Aircraft Market Revenue and Forecast to 2028 (US$ Million)
8.4 Military
8.4.1 Overview
8.4.2 Military: APAC Tilt Rotor Aircraft Market Revenue and Forecast to 2028 (US$ Million)
9. APAC Tilt Rotor Aircraft Market – Country Analysis
9.1 Overview
9.1.1 Asia Pacific: Tilt Rotor Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2 Asia Pacific: Tilt Rotor Aircraft Market, by Key Country
9.1.3 China: Tilt Rotor Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
9.1.3.1 China: Tilt Rotor Aircraft Market, by Type
9.1.3.2 China: Tilt Rotor Aircraft Market, by End User
9.1.4 Japan: Tilt Rotor Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
9.1.4.1 Japan: Tilt Rotor Aircraft Market, by Type
9.1.4.2 Japan: Tilt Rotor Aircraft Market, by End User
9.1.5 Rest of APAC: Tilt Rotor Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
9.1.5.1 Rest of APAC: Tilt Rotor Aircraft Market, by Type
9.1.5.2 Rest of APAC: Tilt Rotor Aircraft Market, by End User
10. APAC Tilt Rotor Aircraft Market - COVID-19 Impact Analysis
10.1.1 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 BAE Systems plc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 roducts and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Boeing
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Honeywell International Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Israel Aerospace Industries Ltd.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Leonardo S.p.A.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Lockheed Martin Corporation
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Northrop Grumman Corporation
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Aviation Industry Corporation of China, Ltd. (AVIC)
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. APAC Tilt Rotor Aircraft Market Revenue and Forecast to 2028 (US$ Million)
Table 2. Asia Pacific: Tilt Rotor Aircraft Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. China: Tilt Rotor Aircraft Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. China: Tilt Rotor Aircraft Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 5. Japan: Tilt Rotor Aircraft Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Japan: Tilt Rotor Aircraft Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 7. Rest of APAC: Tilt Rotor Aircraft Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Rest of APAC: Tilt Rotor Aircraft Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Tilt Rotor Aircraft Market Segmentation
Figure 2. APAC Tilt Rotor Aircraft Market Segmentation – By Country
Figure 3. APAC Tilt Rotor Aircraft Market Overview
Figure 4. APAC Tilt Rotor Aircraft Market, by Type
Figure 5. APAC Tilt Rotor Aircraft Market, by End User
Figure 6. APAC Tilt Rotor Aircraft Market, By Country
Figure 7. Porter’s Five Forces Analysis
Figure 8. Tilt Rotor Aircraft Market: Ecosystem Analysis
Figure 9. APAC Tilt Rotor Aircraft Market Impact Analysis of Drivers and Restraints
Figure 10. APAC Tilt Rotor Aircraft Market Revenue Forecast and Analysis (US$ Million)
Figure 11. APAC Tilt Rotor Aircraft Market, by Type (2020 & 2028)
Figure 12. Unmanned Aerial Vehicle: APAC Tilt Rotor Aircraft Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Manned Aerial Vehicle: APAC Tilt Rotor Aircraft Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Tilt Rotor Aircraft Market, By End User (2020 & 2028)
Figure 15. Civil: APAC Tilt Rotor Aircraft Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. Military: APAC Tilt Rotor Aircraft Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Asia Pacific: Tilt Rotor Aircraft Market – Revenue by Country to 2028 (US$ Million)
Figure 18. Asia Pacific: Tilt Rotor Aircraft Market Revenue Share, by Key Country (2020 & 2028)
Figure 19. China: Tilt Rotor Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Japan: Tilt Rotor Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Rest of APAC: Tilt Rotor Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Impact of COVID-19 Pandemic in APAC Country Markets
- Aviation Industry Corporation of China, Ltd. (AVIC)
- BAE Systems plc
- Boeing
- Honeywell International Inc.
- Israel Aerospace Industries Ltd.
- Leonardo S.p.A
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- To understand the APAC tilt rotor aircraft market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC tilt rotor aircraft market
- Efficiently plan M&A and partnership deals in APAC Tilt Rotor Aircraft Market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC tilt rotor aircraft market
- Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.