Global Military Aircraft Modernization and Retrofit Market - Segmented, by Aircraft (Fixed Wing, Rotary Wing, and UAVs), Geography - Market Forecasts and Analysis (2018-2023)
The Global Military Aircraft Modernization and Retrofit Market is expected to grow at a CAGR of 2.94% to reach $ X.XX billion by the year 2020. A significant proportion of operational aircraft especially in the emerging markets are decades old with aging engines and components. In order to stay operational these aircraft are fitted with modern aircraft systems and components. This trend is most prevalent in some Asia Pacific and Eastern European countries. Due to budget crunch and an ageing fleet of mostly soviet era aircraft, these markets go in for the retrofit option. India with its mostly soviet era aircraft routinely upgrades its old aircraft like the Mig-27, Mig-21, Mi-8, Mi-17 amongst others.
The global military aircraft market is undergoing a major period of transition. United States of America which is by far the biggest spender on military aircraft is now reducing its defense expenditure and plans to reduce its defense expenditure by up to 20% in the next decade. This will give a boost to the retrofit and aircraft modernization market in the region, as the country will increasingly spend lesser amounts on new aircraft. Middle East and Africa on the back of increased defense spending, especially by the Middle East countries will grow at a good growth rate in the forecast period.
Many of the military aircraft are now using COTS components for upgradation and retrofit requirements. COTS solutions are more cost-efficient than custom-tailored OEM based products and solutions. Retrofit of military aircrafts with SVS has also grown. There have been development of new concepts for SVS to be used in military helicopters, especially for low-altitude missions. Many of the other military aircrafts are also largely being retrofitted with SVS systems, to enhance the situational awareness and enhanced flying capability of the aircraft.
Rockwell Collins, Thales Group, Lockheed Martin are some of the important players in the Global Military Aircraft Modernization and Retrofit Market. The market has been segmented, by Aircraft (Fixed Wing, Rotary Wing, and UAVs), and by Geography (North America, South America, Europe, Middle East & Africa and Asia Pacific).
What the report offers
Market analysis of Global Military Aircraft Modernization and Retrofit Market with specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers, opportunities and restraints
Expert interviews and their insights on market shift, current and future outlook and factors impacting vendors short term and long term strategies
Global Military Aircraft Modernization and Retrofit Market, forecasts from 2015-2020
Global Military Aircraft Modernization and Retrofit Market segmentation by Aircraft, forecasts from 2015-2020
Global Military Aircraft Modernization and Retrofit Market segmentation by Geography, forecasts from 2015-2020
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the Global Military Aircraft Modernization and Retrofit Market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped
Target audience who can refer this report:
Military Aircraft Modernization and Retrofit Vendors
Raw material and component suppliers
Anyone within the value chain system
CEO’s, COO’s, Strategic Growth and Business Development Managers
Potential Investors (Venture Capitalists)
Research Institutes and Organizations
Market Research and Consulting firms
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