Afterburner Market Size

Afterburner Market Size

Afterburner Market size exceeded USD 110.36 million in 2019 and is estimated to exhibit over 8% CAGR from 2020 to 2026. The increasing fighter aircraft backlog & production along with rising fleet of the old generation fighter aircraft in various countries across the globe is expected to drive the industry growth.

The afterburner is gaining recognition in the industry as it is used for the shorter runway take-off, assisting in catapult launches from aircraft carriers and air combat. There is an increasing demand for new fighter aircraft worldwide to replace aging aircraft with the next-generation fighter aircraft to recover from the fighter aircraft depleting strength. Moreover, there is an increased demand for next-generation fighter aircraft such as 5th generation fighter that combines advanced stealth with fighter speed and agility. Air superiority fighter planes are fully fused with sensor information and network-enabled operations, increasing their adoption across China, North America, and Europe, in turn, propelling the afterburner industry demand.

Numerous countries are focusing on manufacturing their own 5^th or 6^th generation fighter aircraft as importing would involve significant costs and leave the country to be dependent on the exporter country for software updates, maintenance, and spare parts. For instance, Germany and France are planning to launch a fighter jet by the end of 2025. Strong rivalry among market participants has impacted the price trend of the product. Industry participants are concentrating on value addition to the product such as lower fuel consumption, lower weight, lower size, and improved efficiency.