# Military Aircraft Military aircraft, engines and aerostructures. Theme: Defense (Industrials and defense). Page: https://thematiq.io/themes/defense/military-aircraft/ ## Key facts - **The market: $75bn** All aerostructures, mostly commercial; not military only (Allied Market Research, 2025) - **The build: 1** of the 8 parts in the Defense Supercycle bill of materials, each traced to the companies that supply it (ThematIQ research) - **The companies: 5** companies worth $329 billion, earning on average 51% of their revenue here (Annual reports and exchange data, 2026-10-28) ## What it holds Listed companies that earn their revenue supplying these parts of the Defense Supercycle bill of materials, each read from its own reports. | Part | Covers | |---|---| | Aircraft | military aircraft, military aero engines | ## Largest companies | Company | Listing | Market value | |---|---|---| | Rolls-Royce Holdings | RR.LSE | $142 billion | | Lockheed Martin | LMT.XNYS | $145 billion | | Leonardo - Societa' Per Azioni | LDO.MI | $32 billion | | Melrose Industries | MRO.LSE | $8 billion | | Red Cat Holdings | RCAT.XNAS | $750 million | By listing country: United Kingdom 42%, United States 37%, Italy 21%. ## The market - Global military aircraft market (aircraft only per snippet; engines and aerostructures not stated as included): $58bn (2024), Stratview Research - Global military aircraft market (aircraft only per snippet) (growth, a year): +5.9% (2025–2030), Stratview Research - Global military aircraft market (aircraft only per snippet): $48bn (2024), Precedence Research - Global military aircraft market (aircraft only per snippet) (growth, a year): +4.7% (2025–2034), Precedence Research - Global military aircraft market (aircraft only per snippet): $48bn (2024), SkyQuest - Global military aircraft market (aircraft only per snippet) (growth, a year): +4.7% (2026–2033), SkyQuest - Global military aircraft market (aircraft only per snippet): 48,277.0 USD million (2024), Credence Research - Global military aircraft market (aircraft only per snippet) (growth, a year): +4.3% (2024–2032), Credence Research - Military aero engine market: $14bn (2024), Verified Market Reports - Military aero engine market (growth, a year): +5.1% (2026–2033), Verified Market Reports - Military aircraft engines market: $18bn (2025), The Business Research Company, via Research and Markets - Military aircraft engines market: $19bn (2026), The Business Research Company, via Research and Markets - Military aircraft engines market (CAGR period start not stated in snippet) (growth, a year): +3.5% (to 2030), The Business Research Company, via Research and Markets - Military aircraft engines market: 17,896.4 USD million (2026), Global Growth Insights - Military aircraft engines market (CAGR period start not stated in snippet) (growth, a year): +2.6% (to 2035), Global Growth Insights - Military aircraft engine market: $34bn (2025), MarkNtel Advisors - Military aircraft engine market (growth, a year): +10% (2026–2032), MarkNtel Advisors - Global military aero engine market: $9.5bn (2023), Dataintelo - Global military aero engine market (growth, a year): +4.5% (2024–2032), Dataintelo - All aerostructures, mostly commercial; not military only: $75bn (2025), Allied Market Research - All aerostructures, mostly commercial; not military only (growth, a year): +6.6% (2026–2035), Allied Market Research - All aerostructures, mostly commercial; not military only: $65bn (2025), Research and Markets - All aerostructures, mostly commercial; not military only (CAGR period start not stated in snippet) (growth, a year): +6.8% (to 2030), Research and Markets - All aerostructures, mostly commercial; not military only: $61bn (2023), MarketsandMarkets - All aerostructures, mostly commercial; not military only (CAGR period start not stated in snippet) (growth, a year): +6.6% (to 2028), MarketsandMarkets Military aircraft estimates cluster near USD 48 billion for 2024 except Stratview at USD 58 billion, and the military aero engine estimates range from USD 9.5 billion to USD 34.29 billion, so the disagreement is large. The aerostructures figures are for all aerostructures, mostly commercial, so they are broader than the military segment; I classed the aircraft and engine figures as one part of the segment because the snippets exclude engines and aerostructures from the aircraft figures. ### What is Military Aircraft? Military aircraft, engines and aerostructures. ### What does Military Aircraft hold? Listed companies that earn their revenue from the parts it takes to build Defense Supercycle: Aircraft. 5 companies as of 2026-10-28. ### What is not in Military Aircraft? Prime contractor integrated platform programs: Prime / Platform OEM Sleeve, not Aircraft, Shipbuilding, Missiles / Munitions or Space; single-domain pure plays stay in their domain bucket Airborne radar, electronic warfare and avionics sold as subsystems: C4ISR / Electronics, not Aircraft Complete military aero engines and engine modules: Aircraft, not Industrial Base; raw castings, forgings and specialty metals sold to engine makers: Industrial Base, not Aircraft ## What it is not - Prime contractor integrated platform programs: Prime / Platform OEM Sleeve, not Aircraft, Shipbuilding, Missiles / Munitions or Space; single-domain pure plays stay in their domain bucket - Airborne radar, electronic warfare and avionics sold as subsystems: C4ISR / Electronics, not Aircraft - Complete military aero engines and engine modules: Aircraft, not Industrial Base; raw castings, forgings and specialty metals sold to engine makers: Industrial Base, not Aircraft - Unmanned aerial systems: Aircraft, not Missiles / Munitions; loitering munitions: Missiles / Munitions, not Aircraft; unmanned ground and naval vessels follow Ground Vehicles and Shipbuilding - Airframe structures and assemblies: Aircraft, not Industrial Base; raw forgings and specialty metals: Industrial Base, not Aircraft Data as of 2026-10-28. Source: ThematIQ (industry research, company filings, exchange data), ETFIQ (fund counts), and the publishers linked above. Not investment advice.