- The key vendors in the Global Military and Defense Avionic Systems Market 2014-2018 ARINC Inc., BAE Systems plc, Gama Engineering Ltd. and Innovative Solution & Support Inc.
London, 23 December 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Military and Defense Avionic Systems Market 2014-2018. Increased demand for low-maintenance avionic systems is one of the emerging trends in the market. Avionic systems are crucial to the proper functioning of an aircraft and need scheduled maintenance. Since military and defense agencies have to bear huge MRO costs every year, most of them are opting for low-maintenance aircraft that will help reduce MRO costs. The Global Military and Defense Avionic Systems market is expected to post CAGR of 9.63 percent during the period 2013-2018.
The demand for military and defense aircraft avionic systems is dependent on the number of aircraft ordered by military and defense establishments. The demand increases when military and defense agencies plan a renewal of combat aircraft. Governments and defense establishments worldwide also opt to retrofit these systems in aircraft.
“Some of the equipment that needs to be regularly replaced in a combat aircraft includes avionic systems, fuselage, gas turbine engines, and electrical systems,” says Faisal Ghaus, Vice President of TechNavio Research.
“Retrofitting and upgrading of equipment is expected to encourage governments that are hesitant to fund programs to overhaul existing equipment, which in turn is expected to reduce expenses for the market.”
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.
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