Global Military Aircraft Modernisation and Upgrade and Retrofit Market 2015-2019
About military aircraft upgrade and retrofit
Military aircraft either consist of the rotary-wing or fixed wing aircraft that are used for combat missions, or transportation of military personnel and military supplies. Many of the operational global military aircraft fleet are in service for decades. These ageing fleet of aircraft are upgraded and retrofitted with modern aircraft systems and component, to maintain the fleet's capability for modern combat and strategic missions.
Technavio's analysts forecast the global military aircraft modernization, upgrade and retrofit market to grow at a CAGR of 2.39% over the period 2014-2019.
Covered in this report
In this report, Technavio covers the present scenario and growth prospects of the global military aircraft modernization, upgrade and retrofit market for the period 2015-2019. It provides a global overview, and the growth prospects by region (Americas, APAC, and EMEA). It also presents the market landscape and a corresponding analysis of the prominent vendors in the market. In addition, it discusses the major drivers influencing market growth, outlines the challenges faced by vendors and the market as a whole, as well as the key trends emerging in the market.
Technavio's report, Global Military Aircraft Modernization, Upgrade and Retrofit 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Military Aircraft Modernization and Upgrade and Retrofit Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Military Aircraft Modernization and Upgrade and Retrofit Market: Denel Aviation, Elbit Systems, Israel Aerospace Industries, Rockwell Collins and Thales Group
Other Prominent Vendors in the market are: BAE Systems, Boeing, Dassault Aviation, Finmeccanica, Lockheed Martin and Northrop Grumman
Commenting on the report, an analyst from Technavio’s team said: “Many of the military aircraft are now using COTS components for upgradation and retrofitting requirements. COTS solutions are more cost-efficient than custom-tailored OEM-based products and solutions. For example, COTS solutions are being increasingly used in smart displays for military aircraft. The software utilized for such systems needs to provide seamless integration between different displays, and should be well-defined for mission-critical applications.”
According to the report, many of the major military forces worldwide consist of large fleets of aging aircraft. For example, the US military, one of the largest in the world, still operates fleets of Cold War-era aircraft. The current USAF aircraft fleet is 26 years old on average. The USAF further expects to operate many of its aircraft well beyond the original design service lives. Many of the other transport aircraft in the USAF are even more than 40 years old.
Further, the report states that reduction in defense budget along with a decrease in the number of troops, adversely affect the deployment of military aircraft and reduce the capability of militaries to maintain and operate existing fleets.
Denel Aviation, Elbit Systems, Israel Aerospace Industries, Rockwell Collins, Thales Group, BAE Systems, Boeing, Dassault Aviation, Finmeccanica, Lockheed Martin, Northrop Grumman
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook