The growth of the military aircraft avionics market can be attributed to the increasing procurement of newer generation military aircraft driven by the growing defense expenditure of several countries. Furthermore, the market growth is due to the advanced technologies adopted by military avionics manufacturers, like the digital electronic displays, panoramic displays, software-defined radio (SDR), improved satellite communications, technological aid in precise navigation without the use of GPS, automated flight control, and attitude heading reference system (AHRS). Rising geopolitical conflicts and the requirement of avionics solutions by prominent air forces are further driving the growth of the global market.
MARKET SCOPE
The "Global Military Avionics Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Military Avionics market with detailed market segmentation by application, aircraft type, and geography. The report provides key statistics on the market status of the leading Military Avionics market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of Aircraft Type, the market is segmented into Fixed-wing Combat Aircraft, Fixed-wing Non-Combat Aircraft, Helicopters, Unmanned Aerial Vehicles (UAVs).
- On the basis of Subsystem, the market is segmented Flight Control System, Communication System, Navigation System, Monitoring System, Others.
MARKET DYNAMICS
Drivers:
- Increasing investments by private equity firms in the avionics market.
- Increasing adoption of high quality avionics solutions by the military.
- Development of advanced technology for military avionics
Restraints:
- Insufficient technology growth in developing countries.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Military Avionics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Military Avionics market in these regions.
IMPACT OF COVID-19 ON MILITARY AVIONICS MARKET
The disruption in global supply chain due to the COVID-19 pandemic has left a drastic impact on the aerospace industry through 2020 till 2021. There has been a major disruption in the global supply chain, due to which the production of Military Avionics market has been severely affected. It is expected that over the next four years, prioritization of funding for domestic programs, along with strategic re-assessment of key programs and force structure in the military aircraft markets can bolster the growth of key market players. Moreover, the Military Avionics comprising military aircraft, helicopters, and UAVs are vital for the efficient functioning and operations of the air force. Owing to the typical requirement of Military Avionics in defense industry, the demand for Military Avionics from the defense sector remains effectively unaffected.
MARKET PLAYERS
The report covers key developments in the Military Avionics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Military Avionics market are anticipated to lucrative growth opportunities in the future with the rising demand for Military Avionics in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Military Avionics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Boeing
- Elbit Systems
- Honeywell International Inc.
- L3 Harris Technologies, Inc.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Technologies
- Rolls-Royce plc
- Safran
- Thales Group
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.