Technavio, a tech-focused market research firm, has published a new report on the global military aircraft hangars market, which is expected to experience a slow but steady growth rate with a CAGR of close to 3% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global military aircraft hangars market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global military aircraft hangars market into the following key regions: The Americas, APAC and EMEA.
Geographical segmentation of the global military aircraft hangars market for 2015 (market share %)
|
EMEA |
37.05% |
|
Americas |
32.47% |
|
APAC |
30.49% |
Source: Technavio
Military aircraft hangars market in EMEA
In 2015, EMEA accounted for the maximum share around 38% of the global military aircraft hangars market and will continue to dominate the market during the forecast period.
According to Moutushi Saha, a lead analyst at Technavio, specializing in research on defense, “The geographic situation has made the countries in Europe prone to security threats. The security threats such as terrorism activities, maritime security, and deteriorating geopolitical situation between the Commonwealth of Independent States (CIS) and Crimea regions, is compelling the European Union (EU) members to practice open defense procurement by spending on support infrastructure for military aircraft.”
The defense expenditure in MEA is determined by the substantial threat environments created by the growing radical activities and steady oil economics. These factors have attracted substantial military supports and foreign investments, both in the form of procurement of combat aircraft and construction of airbases. For instance, in June 2016, France initiated the construction of the military base in Syria to support the combat operations of NATO-allied countries. Similarly, in July 2016, the US Air Force completed constructing a military airbase in the southern Kobani in Syria. Such developments will encourage both the local as well as multinational vendors to offer innovative and cost-effective hangars to the military agencies operating in EMEA, which will drive the market during the forecast period.
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Military aircraft hangars market in the Americas
The US is the major contributor to the growth of the military aircraft hangars market in the Americas. For the last five years, the US has been the single largest user of military aircraft and associated infrastructure. It is expected that the military aircraft hangars market in the Americas will witness a steady growth during the forecast period, due to the rising initiatives to enhance air defense capabilities among countries such as Brazil, Canada, and Argentina. The US Department of Defense (DoD) has provided several contracts to upgrade the existing hangars and construct new military hangar facilities. For instance, in 2016, a US-based construction company, Shelter Structures, was awarded a contract by the US Air Force to construct portable fabric hangar in Georgia, US, for offering shelters to military aircraft. Such developments will drive the military aircraft hangars market in the Americas during the forecast period.
Military aircraft hangars market in APAC
The subsequent economic recovery in western countries with the growing territorial disputes is increasing the need for security in the APAC region. The major contributors in the region such as Japan, China, India, South Korea, and Australia focus on procuring advanced military aircraft, which has increased their defense expenditure. China has been increasingly constructing new hangar facilities, as well as modernizing its existing hangars. In February 2016, China and Pakistan jointly commenced the production of an advanced multirole fighter series, namely JF-17B. As of July 2016, India planned to invest $4 billion in the joint development of a fifth-generation fighter aircraft (FGFA) prototype in collaboration with Russia. Such effective growth of military aircraft hangars market in various countries of APAC is increasing the procurement of military fighter aircraft.
The top leading vendors operating in the global military aircraft hangars market are:
- AECOM
- Alaska Structures
- Contrack Watts
- DIUK ARCHES
- Rubb Buildings
Other prominent vendors in the market include AAR, Evan Fall Protection, Fulfab, John Reid & Sons, and Universal Fabric Structures.
A more detailed analysis is available in the Technavio report tilted, ‘Global Military Aircraft Hangars Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Military Aircraft Actuation Systems Market 2016-2020
- Global Military Aircraft Avionics Market 2017-2021
- Global Aircraft Ejection Seats Market 2016-2020
- Global Aircraft Fuel Systems Market 2016-2020
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