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 aircraft survivability equipment market in order to present readers with a detailed forecast regarding the market’s probable growth trajectory over the 2018-2023 forecast period. The report looks into the segmentation and competitive landscape of the global aircraft survivability equipment 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 expected to grow at a CAGR of 5.20% over the 2018-2023 forecast period, rising from a valuation of USD 3,620 million in 2017 to USD 4,910 million in 2023.
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Aircraft survivability equipment includes various types of systems and fittings that increase an aircraft’s survivability and reduce its vulnerability to all kinds of external threats. Simply put, the role of aircraft survivability equipment is to minimize the vulnerability of aircraft to all possible threats. This involves physical equipment meant to reduce damage from traditional missiles and other projectiles as well as electronic equipment designed to prevent the aircraft from falling prey to electronic attacks. Aircraft survivability equipment performs a crucial role in air defense and is thus allotted a major part of air force expenditure. The growing importance of air combat in modern warfare is likely to drive the global aircraft survivability equipment market at a steady growth rate over the 2018-2023 forecast period.
The major drivers for the global aircraft survivability equipment market include the rising demand to replace traditional equipment and systems with advanced versions, and the rising prevalence of asymmetric warfare. Militaries around the world are investing heavily in technological upgradation to provide their units with the most advanced equipment, resulting in increasing demand from the aircraft survivability equipment market. The rise in asymmetric warfare is likely to elevate the importance of aircraft to modern military forces, forcing them to invest in aircraft survivability equipment. Increasing troubles related to insurgency and guerilla warfare around the world are thus likely to drive the global aircraft survivability equipment market over the 2018-2023 forecast period. Surface to air missiles are a vital resource for insurgents looking to counter air attacks. As a result, countries are likely to invest in protection against the same over the coming years, resulting in steady growth of the aircraft survivability equipment market over the forecast period.
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 aircraft survivability equipment 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.
- Electronic attack
- Electronic support
- Non-combat systems
- Combat aircraft
- Military transport aircraft
- Combat helicopters
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.
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