Military Aircraft Avionics Market Size Worth $51.21 Billion by 2030, Says The Brainy Insights
NEWARK, N.J., July 18, 2022 /PRNewswire/ -- As per the report published by The Brainy Insights, the global military aircraft avionics market is expected to grow from USD 34.11 billion in 2021 to USD 51.21 billion by 2030, at a CAGR of 4.62% during the forecast period 2022-2030.
As a result of expanding territorial conflicts among nations and a growing number of non-state terrorists and radical organizations having access to sophisticated military gear and missiles, the security threat to any sovereign nation has increased. As a result, an increase in defense spending is seen worldwide to protect the country and its citizens from these state and non-state entities.
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The additional funds will develop new military aircraft with advanced avionics and upgrade the old fleets with the latest technology. With growing defense spending worldwide, AI integration in military aircraft avionics is gaining pace. With superior imagery and navigation, AI allows military aircraft avionics to expand their surveillance scope and enhance target recognition. The expansion of military aircraft avionics will be aided by more developments that will enable artificial intelligence to enhance surveillance, thereby providing lucrative opportunities in the avionics market. However, the evolution of such advanced and complicated systems necessitates significant capital investment, which may limit the global military aircraft avionics market. Integrating modern and improved avionics with older aircraft systems is another challenge that could hamper the market's growth.
Competitive Strategy
To enhance their market position in the global military aircraft avionics market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- The US Navy awarded Northrop Grumman Corporation a USD 65 million contract in March 2022 to complete full-rate manufacturing of Link-16 for the US Marine Corps' AH-1Z and UH-1Y military aircraft. The contract calls for the fleet's data link hardware to be integrated.
Market Growth & Trends
The military aircraft avionics industry will grow and develop as the defense budget increases to upgrade the army, navy, and air force. The changing geopolitical dynamics will encourage investments in building a new army, naval, and military aircraft avionics, emphasizing comprehensive surveillance, defense infrastructure, and systems to safeguard countries against unilateral aggression. Governments and private market participants working together to develop the military aircraft avionics market will also provide profitable prospects for 2022-30. The military aircraft avionics market will increase due to the growing trend of defense indigenization. Integrating advanced weaponry to combat enemy actions has garnered the attention of the governments, who are now producing high-end military aircraft avionics that is advanced and better equipped with new-age avionics to intercept and destroy incoming threats. The Russian invasion of Ukraine has highlighted the importance of modernized military aircraft avionics. The devastation caused by the Russian airstrikes could have been substantially avoided if Ukraine had an upgraded, advanced, and capable aircraft fleet to neutralize the Russians. Other smaller nations with bigger adversaries realized the need to have robust military aircraft with advanced avionics and hence have recalibrated their security equations post the Russian invasion. India, for example, has acquired 36 Rafael jets manufactured by Dassault Aviation from France. UAE has also signed a deal with France to purchase 80 Rafael jets. Rafael is a multi-role, twin-engine fighter aircraft with sophisticated avionics.
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Key Findings
- In 2021, the fixed-wing combat segment dominated the market with the largest market share of 36% and market revenue of 12.27 billion.
The aircraft type segment is divided into rotorcraft, fixed-wing non-combat aircraft, fixed-wing combat aircraft, transport aircraft, & unmanned aerial vehicles (UAVs). In 2021, the fixed-wing combat aircraft segment dominated the market with the largest market share of 36% and market revenue of 12.27 billion.
- The flight control systems segment is expected to grow at the fastest CAGR of 5.72% over the forecast period.
The system segment is divided into communications systems, navigation systems, monitoring systems, flight control systems, weather systems, collision avoidance systems, & other systems. Over the forecast period, the flight control systems segment is expected to grow at the fastest CAGR of 5.72%.
- In 2021, the aftermarket segment accounted for the largest share of the market, with 55% and a market revenue of 18.76 billion.
The end-user segment is divided into original equipment manufacturers and aftermarket. In 2021, the aftermarket segment accounted for the largest share of the market, with 55% and market revenue of 18.76 billion.
Regional Segment Analysis of the Military Aircraft Avionics Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global military aircraft avionics market, with a market share of around 38.32% and 13.07 billion of the market revenue in 2021. The Asia Pacific region is expected to be the largest market during the forecast period. The military aircraft avionics market in the Asia Pacific has been expanding rapidly. China dominates the military aircraft avionics market in the Asia Pacific region. The increasing military expenditure by China to challenge the military might of the USA will contribute to the development of the military aircraft avionics market in the Asia Pacific.
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Key players operating in the global military aircraft avionics market are:
- BAE Systems
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Thales Group
- Aspen Avionics Inc.
- The Boeing Company
- Honeywell
- Curtiss-Wright
- ENSCO Avionics
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global military aircraft avionics market based on the below-mentioned segments:
Global Military Aircraft Avionics Market by Aircraft Type:
- Rotorcraft
- Fixed Wing Non-Combat Aircraft
- Fixed Wing Combat Aircraft
- Transport Aircraft
- Unmanned Aerial Vehicles (UAVs)
Global Military Aircraft Avionics Market by System:
- Communications Systems
- Navigation Systems
- Monitoring Systems
- Flight Control Systems
- Weather Systems
- Collision Avoidance Systems
- Other Systems
Global Military Aircraft Avionics Market by End User:
- Original Equipment Manufacturers
- Aftermarket
About the report:
The global military aircraft avionics market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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About The Brainy Insights:
The Brainy Insights is a market research company aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements, whether they are looking to expand or planning to launch a new product in the global market.
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