As cited by the business intelligence report titled ‘Global Special Mission Aircraft Market Size study, by Operation (Air Force, Naval Force, and Army), by Application (Intelligence, Surveillance and Reconnaissance, Electronic Warfare, Maritime Patrol, Anti-Surface Warfare and Anti-Submarine Warfare, Airborne Early Warning Control, Electronics/Signal Intelligence, Search and Rescue, and Aerial Refueling) and Regional Forecasts 2020-2027’, available with Market Study Report, global special mission aircraft market is touted to grow substantially during 2020-2027.
 

As per the findings of the research report, ongoing political tensions coupled with rising government funding in the aerospace & defense sector are augmenting global special mission aircraft market size.
 

Citing an instance, the U.S. aerospace & defense sector generated a trade of USD 552.3 billion in 2017 which escalated to USD 621 billion in 2018, owing to government investments. Likewise, Germany increased its aerospace & defense budget by over 10% in 2019 from 2018 to USD 53 billion. Similar trends in other nations will likely enhance the overall market growth in the upcoming years.
 

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For those unaware, special mission aircrafts refer to a category of airplanes, specifically modified or designed for a special mission or a purpose beyond its primary use cases. They are highly demanded owing to their applicability in various applications, including government & publics service activities, munition military, and light military operations.
 

On the contrary, global special mission aircraft market growth is expected to be hindered during the forecast period due to prolonged periods of product certification procedures by aviation authorities.
 

Based on operation type, the industry is bifurcated into army, naval force, and air force.
 

The application spectrum of the industry vertical comprises aerial refueling, search & rescue, electronics/signal intelligence, airborne early warning control, anti-submarine warfare & anti-surface warfare, maritime patrol, electronic warfare, surveillance & reconnaissance, and intelligence among others.
 

Speaking of geographical scope, North America captures a large portion of global special mission aircraft market share and is touted to experience considerable growth through 2027.  Hefty expenditure in defense sector by the U.S. government, and prompt adoption of new & advanced technology are propelling the regional industry growth.
 

Elaborating on competitive landscape, Lockheed Martin Corp., Boeing Company, Dassault Aviation SA, BAE Systems plc, Northrop Grumman Corp., Textron Aviation, Inc., Bombardier, Inc., Israel Aerospace Industries Ltd., Elbit Systems Ltd., and Thales Group are the leading organizations influencing worldwide special mission aircraft market trends.