- The key vendors in the global military aircraft modernisation and upgrade and retrofit market 2015-2019 are Denel Aviation, Elbit Systems, Israel Aerospace Industries, Rockwell Collins and Thales.
London, 06 October 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global military aircraft modernisation and upgrade and retrofit market 2015-2019. 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. The global military aircraft modernization, upgrade, and retrofit market is expected to grow at a CAGR of 2.39% during the period 2014-2019.
Military aircraft are of great importance in conflicts for crisis management from a strategic and tactical point of view and have been a crucial component in conflicts. These aircraft also enable the military to transport troops and supplies over long distances in a short time, which is a decisive factor in a war zone. They also help to evacuate wounded soldiers and provide supplies in a hostile environment.
“Many of the world’s military forces are renewing their military aircraft fleets to acquire modern capabilities and replace the aging systems,” says Faisal Ghaus, Vice President of Technavio Research.
“In the US, military aircraft upgrade and retrofit is one of the top priorities of the DoD. The US DoD also aims to upgrade its two-seat F/A-18Fs. These aircraft could be built with the wiring and infrastructure to be converted to EA-18G Growler electronic attack aircraft if necessary.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Military Aircraft Modernisation and Upgrade and Retrofit Market 2015-2019, please send an e-mail to media@TechNavio.com
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