1.7 C
Wednesday, December 6, 2023

Military Aircraft Modernization and Retrofit Market Share, Key Players Analysis and Forecast 2023-2028

Must read

How Big is the Military Aircraft Modernization and Retrofit Market ? :

IMARC Group’s latest report, titled “Military Aircraft Modernization and Retrofit Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global military aircraft modernization and retrofit market size reached US$ 58.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 73.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.

What is Military Aircraft Modernization and Retrofit and Uses ? :

Military aircraft modernization and retrofit refer to the process of upgrading and updating existing aircraft to incorporate the latest technologies and capabilities. This encompasses structural modifications to the aircraft by the replacement of outdated components and adding new features into existing aircraft. The procedure plays an instrumental role in reducing operating costs by improving fuel efficiency, functionalities, and reducing the need for large-scale replacements and maintenance. Modernizing existing aircrafts helps maintain a competitive edge in military operations, and retrofitting helps extend the service life of existing aircraft and improving mission capabilities.

Request Free Sample Report (Exclusive Offer on this report): https://www.imarcgroup.com/military-aircraft-modernization-retrofit-market/requestsample

Who are the key Players Operating in the Industry ? :

The competitive landscape of the industry has also been examined along with the profiles of the key players being,

  • BAE Systems Plc
  • Elbit Systems Ltd
  • Honeywell International Inc
  • Israel Aerospace Industries Ltd
  • L3Harris Technologies Inc
  • Leonardo S.p.A
  • Lockheed Martin Corporation
  • Northrop Grumman Corporation
  • Safran SA
  • Thales Group
  • The Boeing Company

What are the Growth Prospects and Trends in the Military Aircraft Modernization and Retrofit Industry ? :

The global market is primarily driven by the escalating demand for upgradations of outdated aircrafts to keep them operational and effective.  This can be attributed to the military budget constraints in several countries, resulting in the adoption of cost-effective methods to maintain a competitive edge. In line with this, the rapidly changing threat environments faced by military forces is resulting in the production of adaptable aircraft to deflect new threats, thereby fueling the market. Also, the considerable rise in geopolitical tensions across the globe is resulting in a higher uptake of these services to facilitate enhanced protection and maintain regional stability.

Furthermore, an enhanced focus on sustainable development is resulting in the adoption of more efficient engines and environmentally friendly technologies to reduce the environmental impact of military operations. Some of the other factors contributing to the market include rising military expenditure, considerable growth in the aerospace and defense industry, growing adoption of smart features and connected technology, and extensive research and development (R&D) activities.

Key Market Segmentation: 

Breakup by Aircraft Type:

  • Fixed Wing Aircraft
  • Rotary Wing Aircraft 

Breakup by System Type:

  • Navigation Systems
  • Weapon Systems
  • Headup Displays
  • Optronic Equipment
  • Fire Control Radars
  • Defensive Systems
  • Others

 Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other) 

Key Highlights of the Report: 

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Report Coverage:

Report FeaturesDetails
Base Year of the Analysis2022
Historical Period2017-2022
Forecast Period2023-2028
UnitsUS$ Billion
Segment CoverageAircraft Type, System Type, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries CoveredUnited States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered BAE Systems Plc, Elbit Systems Ltd., Honeywell International Inc., Israel Aerospace Industries Ltd., L3Harris Technologies Inc., Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman Corporation, Safran SA, Thales Group and The Boeing Company
Customization Scope10% Free Customization
Report Price and Purchase OptionSingle User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support10-12 Weeks
Delivery FormatPDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us: 

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. 

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. 

Contact us:


134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Read More: https://www.cofimagazine.com/

- Advertisement -spot_img

More articles


Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article