Aircraft Survivability Equipment Market Growth
Aircraft Survivability Equipment Market Size Valued at USD 4,910 Million, market Grow at a CAGR Of 5.20% by 2020 -2030. Market Research Future (MRFR) announces a new release on the global aircraft survivability equipment market. The report takes a look at the present stats of the market in order to present readers with a detailed forecast regarding the market’s probable growth trajectory over the 2020-2030 forecast period. The report looks into the segmentation and competitive landscape of the global market to provide readers with a close look at the market’s growth prospects over the forecast period.
The global Aircraft Survivability Equipment Market is driven primarily by the growing demand from the defense sector for advanced alternatives to existing legacy systems. Aircraft survivability equipment plays a key role in defending aircraft from physical as well as electronic attacks and has thus grown in demand spectacularly over the last few decades hand in hand with the technological progression in weapons used against aircraft. The defense sector is among the highest funded sectors across the world, and efforts to modernize military forces are rife in several countries, leading to growing demand from the global aircraft survivability equipment market. Growing demand from the defense sector is likely to remain a key driver for the global market over the forecast period due to the growing demand to replace existing legacy aircraft survivability systems with advanced modules.
According to the research report, the global aircraft survivability equipment market is set to exhibit a stable 5.20% CAGR over the 2020-2030 forecast period, growing from a value of USD 3,620 million to USD 4,910 million.
On the other hand, the high cost of advanced aircraft survivability equipment is likely to hamper the growth prospects of the global market over the forecast period. Stringent military regulations and standards are also likely to be a hindrance for the global market over the forecast period.
Leading players in the global aircraft survivability equipment market include BAE Systems (US), Elbit Systems Ltd. (Israel), Northrop Grumman (US), Chemring Group (UK), Israel Aerospace Industries (Israel), Thales Group (France), Terma A/S (Denmark), Ruag Holding AG (Switzerland), Raytheon (US), and Saab AB (Sweden), among others.
Leading aircraft survivability equipment manufacturer BAE Systems has announced plans to expand its operations in Huntsville, Alabama, with a new USD 45-million facility that will be used partly as a manufacturing site and partly as office space.
Regionally, the global aircraft survivability equipment market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
North America is the largest regional market for aircraft survivability equipment at present due to the leading role played by the U.S. The U.S. is the leading defense spender in the world and is likely to allot a high amount of its overall military expenditure to overhauling and upgrading its armed forces over the coming years, leading to high demand from the market. The Asia Pacific market for aircraft survivability equipment market is expected to exhibit the fastest growth over the forecast period due to the rising defense spending in countries such as India, China, and Korea.
The global aircraft survivability equipment market is segmented by fit, subsystem, platform, and region.
By fit, the global market is segmented into line and forward fit. Line fit is the leading segment in the global market at present, but forward fit is likely to exhibit the highest growth rate over the forecast period.
By subsystem, the global market is segmented into electronic attack, electronic support, and non-combat systems. Electronic attack systems are the largest segment of the global aircraft survivability equipment market at present, while electronic support is expected to be the fastest growing over the forecast period.
By platform, combat aircraft dominate the global market at present due to their prime importance in any air force. Combat helicopters are expected to the fastest growing segment over the forecast period due to the growing use of helicopters in armed forces, owing to their versatile applicability. Other leading platform segments in the aircraft survivability equipment market include UAVs, military transport aircraft, and others.
Global Aircraft Survivability Equipment Market Research Report: By fit (Line, Forward), By subsystem (Electronic attack, Electronic support, Non-combat systems) and By Platform (Combat Aircraft, Military transport aircraft, Combat helicopters, UAVs, Others) – Forecast to 2030@https://www.marketresearchfuture.com/reports/aircraft-survivability-equipment-market-6744
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