Global Military Aircraft Avionics Market 2018 Size, Status and Forecast to 2023
Posted: Jul 06, 2018
Global Military Aircraft Avionics Market Report by Aircraft Types (Combat Aircraft, Transport Aircraft, Rotorcraft, UAVs, and Others), and by Geography- Forecast to 2021
Market Synopsis of Military Aircraft Avionics
The global Military Aircraft Avionics market is expected to grow at a CAGR of around 3% during 2016-2021. Improvement in flight safety, growing demand for synthetic vision systems, and increasing need for advanced avionics systems are the factors driving the market.
The complexities attached to modern warfare also demands advanced military avionics systems for effective defense and surveillance mechanism. Unmanned Aerial Vehicle (UVAs) is the key segment driving the avionics market.
As of 2015, Americas account 55% of the market share. With the increased defense spending and procurement of next generation aircraft, APAC will register the highest growth and drive the demand for military avionics market.
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Some of the key players in the Military Aircraft Avionics Market are Avidyne, GE Aviation, Honeywell, Rockwell Collins, Thales Group, Aspen Avionics, Curtiss-Wright, Elbit Systems, ENSCO Avionics, ForeFlight, L-3 Avionics Systems, Sagetech, Xavion, Zodiac Aerospace, and Hilton Software
Military Aircraft Avionics Market – Segments
For the convenience of the report and enhanced understanding; the military aircraft avionics market is segmented in to three key dynamics:
Segmentation by Type: General Aircraft Avionics and Mission Specific Avionics.
Segmentation by Aircraft Type: Fixed Wing and Rotary Wing.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Military Aircraft Avionics Market – Regional Analysis
Along with the increase in global conflicts, various countries have extensively invested on military expansion and also on the upgrade of the existing military aircraft fleet. The US, in particular, along with the member countries of the North Atlantic Treaty Organization (NATO), have already deployed thousands of their troops and military aircraft in various conflict regions, across the globe (such as in Syria, Iraq, and Afghanistan). Military aircrafts are of great importance in conflicts for crisis management from a strategic and tactical point of view and has been a crucial component in conflicts since 1945. These aircrafts also enable the military to transport troops and supplies over long distances in a short time, which is a decisive factor in the war zone. It also help to evacuate the wounded soldiers and provide supplies in a hostile environment. Thus, considering the contribution and need for military aircraft, also for humanitarian and military operations, the need to maintain the operability for such aircraft increases along with the rise in conflicts.
All these military aircraft consist of modern avionics system for flight control and many other operations. Also, the modern warfare has evolved and is more asymmetric in nature. The evolving nature of modern warfare also demands advanced military avionics system for effective defense and surveillance mechanism. The market for military aircraft avionics systems is thus expected to grow at a steady rate in the next five years. Demand from major markets, such as the US and Europe, and also from the emerging nations in APAC is expected to contribute to the market growth.
The US and Europe are heavily spending on military aircraft modernization. The maintenance and operability of existing fleet is more cost-effective to the defense sector than replacing an entire fleet of aircraft. As a result, new and optimized military aircraft avionics system are largely being retrofitted to various military aircraft.
Emerging nations, such as China and India, have increased their defense budgets, and are buying new aircraft to strengthen their defense capability. A large part of the defense budget goes for the purchase and upgrade of military aircraft systems (including military aircraft avionics). Thus, although the US and Europe have much larger market for military aircraft avionics systems at present, the economic slowdown in Europe, while increased defense spending in the Middle east and APAC region have led to a gradual change in the market dynamics. It is expected that the emerging nations such as India, China, Brazil, and South Africa can provide a much attractive market opportunity for military aircraft avionics systems.
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