Key vendors to focus on product and service differentiation to gain market shares
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global military aircraft modernization and upgrade and retrofit market in their latest research report. This report also lists five other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated in the overall market.
This Technavio report, under the defense vertical, is based on the synthesis, analysis, and interpretation of information about the global military aircraft modernization and upgrade and retrofit market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global military aircraft modernization and upgrade and retrofit market is highly competitive in nature. The market is characterized by intense rivalry among existing vendors in terms of the range of aircraft systems and solutions provided product cost, and technology. Vendors also compete for major military deals and projects in various emerging and established markets. It is imperative for vendors in the market to distinguish their product and service offerings to survive and succeed in the highly competitive market space.
“China has been investing in the development of multi-layered air defense network to counter threats arising from the US and allied air forces. In 2013, China inducted an updated variant of H-6 medium-range bomber, namely Xian H-6K, for long-range attacks and stand-off attacks. As of December 2015, China operated 15 Xian H-6K strategic bombers. China also operates the aerial refueling version of H-6K strategic bombers, namely H-6U,” says Moutushi Saha, a lead analyst at Technavio for defense.
Top five vendors in the military aircraft modernization and upgrade and retrofit market space
Boeing
Boeing, along with its subsidiaries, operates in the global aerospace and defense sector. The company supports airlines, and the US and allied government customers in more than 150 countries. As of FY2015, the company reported a revenue of more than $96 billion.
Key service offerings: Modifications and upgrade of fixed-wing aircraft and Retrofit of composite components.
Elbit Systems
Elbit Systems is an international defense electronics company that develops, designs, manufactures, and integrates defense electronic systems and products worldwide. The company generates its revenue through five business segments which include airborne systems, C4SIR, land systems, electro-optic systems, and others. As of December 2014, the company had a net revenue of more than $3 billion.
Key service offerings: Structural modification services for military aircraft and Conversion of assault helicopters to multirole fighters.
Israel Aerospace Industries (IAI)
IAI is involved in the development and production of military and commercial aerospace and defense solutions and systems. The company designs, engineers, and manufactures defense products for the Israel Ministry of Defense and customers throughout the world. IAI’s customers and partners include the Ministries of Defense, Air Forces, Navies, Armies, and Marines of more than 70 countries worldwide. The company also serves a wide range of customers through its marketing representatives in multiple locations of North America, India, Colombia, Korea, Australia, and Israel.
Key service offerings: Military aircraft and helicopter upgrade and Special mission aircraft conversion.
Lockheed Martin
Lockheed Martin engages in the production, supply, and R&D of advanced technology systems, products, and services to global defense and aerospace industries. The company provides upgrade and retrofit services for military aircraft, such as the installation of AESA radar, embedded global positioning, and upgrade of electronic warfare systems and avionics systems.
Key service offerings: Military aircraft upgrade and retrofit services and Upgrade of electronic warfare systems and avionics systems.
Rockwell Collins
Rockwell Collins designs, manufactures, and markets electronic communication systems, aviation systems, and avionics for aerospace and defense industries across the globe. The company generates its revenue through three business segments – commercial systems, government systems, and information management systems.
Key service offerings: Cockpit upgrade of helicopters and Avionics systems for helicopter upgrade.
Other prominent vendors in this market include BAE Systems, Dassault Aviation, Leonardo-Finmeccanica, Northrop Grumman, and Thales Group.
A more detailed analysis is available in the Technavio report, Global Military Aircraft Modernization and Upgrade and Retrofit Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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