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Demand for Tilt Rotor Aircraft in Defense Applications will Drive the Tilt Rotor Aircraft Market
The global tilt rotor aircraft market is gaining widespread importance owing to the rising demand for vertical take-off and landing capabilities and increase performance compared to conventional aircraft.
By: BIS Research
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Tilt rotor aircraft can serve a wide range of operations that include passenger transportation as well as cargo deliveries through aerial vehicles and drones, respectively. With road travel in large megacities becoming increasingly congested, people commuting on a daily basis are looking for safer and better modes of transportation to work and visit other destinations. Road infrastructure in megacities is reaching its maximum capacity and is extremely expensive to expand as well. These problems have created a need for advancements in transportation. One such advancement is the tilt rotor aircraft.
The competitive landscape of the global tilt rotor aircraft market consists of several organic and inorganic strategies followed by the key players to increase the market share. The strategies include product innovations, contracts, partnerships, acquisitions, and business expansions, among others.
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Some of the key players in the global tilt rotor aircraft market include Acubed by Airbus, BAE Systems, Bell Textron Inc., Boeing, GE Aviation, General Dynamics, Honeywell Aerospace, Israel Aerospace Industries, Joby Aviation, Kitty Hawk, Leonardo S.p.A, Lilium GmbH, Lockheed Martin, Overair, among others. These companies are aiming for a wide range of strategic partnerships and collaborations to expand their operations and increase their market presence globally.