Dec 16, 2020   SOURCE: BusinessWire

New Military Aircraft Modernization and Upgrade and Retrofit Market Research With Post-Pandemic Impact Analysis | Technavio

The new military aircraft modernization and upgrade and retrofit market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201215005870/en/

Technavio has announced its latest market research report titled Global Military Aircraft Modernization and Upgrade and Retrofit Market 2020-2024 (Graphic: Business Wire).

Technavio has announced its latest market research report titled Global Military Aircraft Modernization and Upgrade and Retrofit Market 2020-2024 (Graphic: Business Wire).

Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the military aircraft modernization and upgrade and retrofit market.

Get FREE report sample within MINUTES

"One of the primary growth drivers for this market is the incorporation of CNS systems in aircraft,” says a senior analyst for the Industrials industry at Technavio. The military aircraft modernization includes the incorporation of emergency warning systems such as GCAS and EGPWS which help to enhance the aircraft situational awareness of pilots and reduce their workloads. As the markets recover, Technavio expects the military aircraft modernization and upgrade and retrofit market size to grow by USD 2.61 billion during the period 2020-2024.

Military Aircraft Modernization and Upgrade and Retrofit Market Segment Highlights for 2020

  • The military aircraft modernization and upgrade and retrofit market is expected to post a year-over-year growth rate of 2.10%.
  • Combat airplanes are extremely popular and overused by armed forces as they help in countering and launching attacks on enemy grounds.

Regional Analysis

  • 45% of the growth will originate from the North America region.
  • The US is one of the key markets for military aircraft modernization and upgrade and retrofit in North America. However, market growth in this region will be slower than the growth of the market in APAC, Europe, and South America.

Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.

Related Reports on Industrials Include:

Global Military Aircraft Battery Market- Military Aircraft Battery Market is segmented by type (lithium-based batteries, nickel-based batteries, and lead-acid batteries) and geography (North America, APAC, Europe, MEA, and South America). Click here to get a Free sample report.

Global Military Ground Robot Market- Military Ground Robot Market is segmented by product (airborne military robots, naval military robots, and land-based military robots) and geography (APAC, Europe, MEA, North America, and South America). Click here to get a Free sample report.

Notes:

  • The military aircraft modernization and upgrade and retrofit market size is expected to accelerate at a CAGR of almost 3% during the forecast period.
  • The military aircraft modernization and upgrade and retrofit market is segmented by Type (Combat aircraft, Transport aircraft, and Others) and Geography (North America, APAC, Europe, MEA, and South America).
  • The market is concentrated due to the presence of a few established vendors holding significant market share.
  • The research report offers information on several market vendors, including BAE Systems Plc, Elbit Systems Ltd., Honeywell International Inc., Israel Aerospace Industries Ltd., L3Harris Technologies Inc., Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Technologies Corp., Thales Group, and The Boeing Co.

Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.