In this article, we look at the 20 largest air forces in the world. You can skip our detailed analysis on the aircraft fleet size of various air forces and trends in the aerospace industry by heading over directly to the 5 Largest Air Forces in the World Heading into 2024.
Air Forces around the world are upgrading their fleet of aircraft with newer, advanced fighter jets to enhance their aerial capabilities. In the United States, work is already underway to develop a sixth-generation fighter jet by 2030 to replace Lockheed Martin Corporation (NYSE:LMT)’s F-22 Raptor. For this purpose, the US Air Force (USAF) in 2014 launched a highly classified Next Generation Air Dominance (NGAD) program, which is estimated to cost about $16 billion between 2023 and 2028. The USAF has requested $1.7 billion for NGAD in its FY24 budget request.
In August 2022, five companies received contracts of $975 million each to work on the NGAD program for a period of ten years. These included Lockheed Martin Corporation (NYSE:LMT), Northrop Grumman Corporation (NYSE:NOC), The Boeing Company (NYSE:BA), General Electric Company (NYSE:GE) and Pratt & Whitney, a subsidiary of RTX Corporation (NYSE:RTX).
Given the level of research being carried out on the development of the future fighter jet in the US, and the fact that much of the world relies on US-based aerospace companies for the procurement of their fighters and other aircraft, it is safe to say that America is likely to retain its status as the global military power for the foreseeable future.
This also bodes well for the US economy. Several countries in the Middle East have increased their defense spending over the past couple of decades. Saudi Arabia entered into a $30 billion deal with the US in 2011 to procure 84 F-15SA fighter jets from The Boeing Company (NYSE:BA). The final delivery of these aircraft were delivered to the Saudi Royal Air Force in December 2020. According to CNN at the time of signing the contract, the Saudi order for fighters was projected to support more than 50,000 jobs across 44 states of the US. The UAE’s air force is also equipped with 80 F-16 fighter jets, as part of a $6.4 billion deal it signed with Lockheed Martin Corporation (NYSE:LMT) in 2000.
Other countries in Asia are also racking up their air force capabilities, with the help of American aerospace companies. During Narendra Modi’s visit to Washington in June 2023, General Electric Company (NYSE:GE) announced that it had signed an agreement with India’s state-owned Hindustan Aeronautics Ltd. to produce fighter jet engines for the Indian Air Force (IAF). The signed contract mentioned the likelihood of General Electric Company (NYSE:GE)’s F414 engines being jointly produced for use by IAF’s Tejas fighter jets.
This August, the Indonesian Air Force said it had signed a memorandum of agreement with The Boeing Company (NYSE:BA) for purchasing 24 F-15EX fighter jets, which is the most advanced version of the F-15. The financial details of the deal are not public yet. Last year, Washington also approved the sale of F-15ID aircraft to Jakarta for a deal valued at $13.9 billion.
Following Russia’s invasion of Ukraine in February 2022, a number of European countries, especially those that are members of NATO, have increased their military expenditure and are spending heavily on the procurement of fighter jets from the US. According to the Stockholm International Peace Research Institute (SIPRI), Finland’s defense expenditure rose 36% in 2022 compared to 2021. Arms procurement including that of F-35 fighter jets from Lockheed Martin Corporation (NYSE:LMT) accounted for one-thirds of all military spending by Helsinki that year.
Late last year, Germany also announced that it was acquiring 35 F-35 fighter jets from the US for a deal valued at $8 billion. The cost will be paid out of a $14 billion fund that German lawmakers approved earlier in the year to upgrade and enhance military capabilities in wake of Moscow’s aggression against Kyiv in the neighborhood.
Pixabay/Public Domain
Methodology
The 20 Largest Air Forces In The World Heading into 2024 are ranked in ascending order of the air force fleet size of countries. Data has been sourced from the Global Air Powers Ranking 2023. FlightGlobal’s 2023 Flight International magazine was consulted for a breakdown of the type of active aircraft used by these air forces; for example, combat, special mission, trainers, and more.
If interested, you can also take a look at the 15 Most Expensive Fighter Jets in the World.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Let’s now head over to the list of countries with the largest air forces in the world heading into 2024.
20. Germany
Aircraft Fleet: 394
The German Air Force has a fleet of 394 aircraft, of which 134 are Eurofighter Typhoon fighter jets – one of the most advanced fighters in the world. According to Flight International, another 38 of these have been ordered in recent years with pending delivery.
19. Canada
Aircraft Fleet: 395
Canada’s Air Force has a sizable fleet of combat aircraft. The government in January this year announced to purchase 88 F-35 fighter jets from Lockheed Martin Corporation (NYSE:LMT) in a bid to enhance Arctic security and meet NATO’s spending expectations.
18. United Kingdom
Aircraft Fleet: 466
The Royal Air Force of the United Kingdom has one of the largest fleets of combat aircraft, which include 119 Eurofighter Typhoons, and 26 F-35B fighter jets. In addition to this, it also has 57 Boeing CH-47 Chinook combat helicopters.
17. Italy
Aircraft Fleet: 506
Italy is one of the highest spenders on defense in the world. The country has 862 military aircraft, of which more than 500 are in active use of the air force, including 92 Eurofighter Typhoon, 50 Tornado IDS, and 15 F-35 fighter jets. According to Air & Space Forces Magazine, the Italian Air Force has another 90 F-35 fighters on order with Lockheed Martin Corporation (NYSE:LMT).
16. Taiwan
Aircraft Fleet: 518
Taiwan has raised a strong air force due to the perceived threat from China. There are regular occurrences of Chinese warplanes entering Taiwan’s air space, because of which the US ensures that Taipei gets the equipment it requires to defend itself from Beijing’s aggression. Taiwan’s air force has 110 General Dynamic Corporation (NYSE:GD) F-16 fighters, with another 56 on order. This week Bloomberg reported that the Pentagon was expediting the delivery of these jets to Taiwan due to the tense situation with China.
15. Brazil
Aircraft Fleet: 527
Brazil has the largest air force in South America. Having an economy with a size of $2 trillion has allowed the country to upgrade its military. In the last decade, Brazil has placed an order to purchase 36 Gripen fighter jets from Sweden, and has also upgraded its surveillance radars under a contract with RTX Corporation (NYSE:RTX). Of the 527 aircraft in Brazilian Air Force’s fleet, 120 are combat jets.
14. Algeria
Aircraft Fleet: 541
Algeria has one of the largest air forces in the world, and has been involved in an arms race with its arch-rival Morocco. The African nation gets most of its military equipment from Russia. Of the 541 aircraft in the air force’s fleet, there are 33 MiG-29, 22 Su-24, and 57 Su-30 fighter jets, among other aircraft.
13. Israel
Aircraft Fleet: 581
The Israeli Air Force is among the most powerful in the Middle East. Israel is the only country in the region which has F-35 fighter jets. Currently, it has 32 of these fifth-generation fighters, and has placed an order for another 17 according to Flight International 2023. In addition to this, the air force has 175 F-16 combat aircraft built by General Dynamics Corporation (NYSE:GD) as well.
12. Türkiye
Aircraft Fleet: 618
Türkiye has one of the largest air forces in the world heading into 2024, with a fleet size of over 600 aircraft. About 200 of these are combat jets, including 157 F-16 jets developed by General Dynamics Corporation (NYSE:GD). The Turkish Air Force also has several special mission jets and combat helicopters. It has 7 KC-135R tankers as well.
11. France
Aircraft Fleet: 658
France has one of the most powerful air forces in the world, helped by its home-grown aerospace industry, which includes companies like Dassault Aviation – the developers of all of its primary fighter jets such as Rafale, Mirage 2000-5F, and Mirage 2000D. The French Air Force also has 84 aircraft that are used for transport operations, and around 80 combat helicopters according to Flight International 2023.
10. Saudi Arabia
Aircraft Fleet: 702
More than half of Saudi Air Force’s aircraft fleet comprises fighter jets. The kingdom spent $75 billion on defense expenditure in 2022, making it the fifth largest military spender in the world. Riyadh is currently looking to purchase 48 Eurofighter Typhoon jets, in addition to the 72 that it already has. Germany is so far blocking the sale, despite requests by several European countries including the UK to approve the sale.
9. Japan
Aircraft Fleet: 779
Japan’s Air Self-Defense Force is one of the largest air forces in the world. In November this year, the Japanese received a delivery of F-35 fighter jets from Lockheed Martin Corporation (NYSE:LMT). The number of jets delivered was not disclosed, but it has certainly bolstered the aerial capabilities of the Asian country. According to Flight International, Japan has 27 F-35s and has 119 in orders. Other combat aircraft in its fleet include 155 F-15J and 62 F-2A.
8. Pakistan
Aircraft Fleet: 818
Pakistan’s aerial potential was on display in its 2019 dogfight with arch-rival India in the disputed Kashmir region. The country boasts a strong and one of the largest air forces in the world, with a fleet size in excess of 800. Notable combat jets of the Pakistan Air Force (PAF) include 135 F-7, 44 F-16, and 109 JF-17 fighter jets which it jointly produced with China.
7. South Korea
Aircraft Fleet: 890
South Korean Air Force’s fleet size of 890 combat aircraft makes it one of the largest air forces in the world. In 2022, the country’s aerial capabilities received a significant boost with the successful launch of its locally-made KF-21 Boramae fighter jet, which defense experts believe is as good as any other fourth-generation stealth fighter. According to Flight International, Seoul has 118 F-16, 60 FA-50, and 38 F-35A in its fleet among several other fighter jets.
6. North Korea
Aircraft Fleet: 951
North Korea has a significantly higher number of combat aircraft than South Korea, but its fleet is not as advanced as its neighbor’s. Most of Pyongyang’s jets are outdated. Its fleet includes 120 F-7, 106 F-5 Shenyang, and several versions of the MiG fighter jets.
Click to continue reading and see the 5 Largest Air Forces in the World Heading into 2024.
Suggested Articles:
- 20 Countries With Highest Military Spending In The World
- 15 Countries that have no Army, Navy or Air Force
- 12 Countries Have Aircraft Carriers But Only One Has A $13.3 Billion Warship
Disclosure: None. 20 Largest Air Forces in the World Heading into 2024 is originally published on Insider Monkey.
