ID: MRFR/A&D/5281-HCR | 100 Pages | Published By Sejal Akre on March 2023
Aircraft Survivability Equipment Market Size Valued at USD 4,910 Million, market Grow at a CAGR Of 5.20% by 2020 -2030
Aircraft Survivability Equipment Market Size Is Anticipeted to Reach at a USD 4,910 Million, Market Grow At A CAGR Of 5.20% By 2020 -2030
Aircraft survivability equipment includes a wide range of systems and fitting to increase the survivability of the aircraft and to reduce its threats from all kinds of external threats. To simply put, the Aircraft survivability equipment is designed to minimize the damage from the traditional misses and other projectiles, as well as electronic equipment designed to prevent the aircraft from falling into electronic attacks. Aircraft survivability equipment plays a crucial role in air defense, and it is a major part of the air force expenditure.
This equipment maximizes the survivability of an aircraft against the growing threat. The threats have increased significantly, and it is becoming more complex due to combat missions in different countries. That is why governments around the world are planning to upgrade the infrastructure and the system to meet future threats. The governments are encouraging the replacement of the legacy system for aircraft safety and surveillance by a highly advanced multi-threat protection system. The Aircraft survivability equipment can work together with the existing systems, and they can integrate with the mission systems of different platforms. It will propel the Aircraft survivability equipment market growth.
Additionally rising deployment of unmanned aerial vehicles in the defense and commercial sectors is anticipated to increase the Aircraft survivability equipment value. The advancement in technology is adopted by commercial and defense aircraft to make the aircraft better and efficient. Aircraft survivability equipment allows the aircraft to be more flexible, and due to this, the aircraft manufacturers are heavily investing in the Aircraft survivability equipment, which is again propelling the demand of the Aircraft survivability equipment market.
In 2019, the emergence of coronavirus gave rise to the covid-19 pandemic. Within months the virus was spread among all the corners of the world. The pandemic affected business sectors and individuals’ lives as well. The world economic growth slowed down as the governments around the world decided to impose a lockdown to reduce the spreading of the virus. At that time, there was no vaccine or medicine was there to fight the virus, and the only solution was to stay at home or maintain social distance.
The imposition of lockdown interrupted the production of products. Again the shortage of laborers was one of the major reasons behind the lack of production. The demand of supply couldn’t meet the due to the lack of supply. As a result, many markets faced losses. The aircraft survivability equipment market was also one among them. Now the spread of the virus has decreased, and vaccines are also available to fight the virus. Due to this, the market is again coming back to its normal situation. But the emergence of the new variant has again questioned so many things, and it is one of the major concerns for the world.
One of the major drivers in the Aircraft survivability equipment market is the replacement of the traditional equipment with a more advanced version. The traditional equipment is not good enough to tackle the modern threats, and due to this, the aircraft manufacturer is adapting to the new technology to make safer and better aircraft designs. Additionally, militaries around the world are investing highly to make aircraft better and faster. They are upgrading all their aircraft by installing modern Aircraft survivability equipment; the rise in asymmetric warfare also increases the importance of aircraft to the military and will force the military to invest in aircraft survivability equipment. For example, in 2021, US Air Force requested USD 47.72 billion for the research and development of new technology. Increasing threats and troubles related to guerilla warfare around the world is also a major factor that will boost the market trends.
The increasing number of aircraft to strengthen the military will bring opportunities to the Aircraft survivability equipment market. The defense sector plays a big role in the Industry growth. The equipment acts like an aircraft protection system and alerts the aircrew regarding the laser, missile, and fire threat. Additionally, the Aircraft survivability equipment is lightweight and reduces the overall power consumption, which will generate opportunities for the Industry.
Aircraft survivability equipment is very costly and has a very sophisticated nature. They identify the threats and characterize them as infrared, ultraviolet, and acoustic, so it requires many things that are costly, which can be a challenge for the market. The market key players are trying to come up with solutions to solve these challenges, which is likely to boost the market growth in the aircraft survivability equipment market forecast period.
It takes so much effort and investment to replace the existing system with Aircraft survivability equipment. Due to this, many manufacturers don’t adopt this new technology which has become a major restraint in the market. Not all regions can afford this equipment or install the latest aircraft equipment.
In recent years, the need for highly advanced technology in the defense sector has significantly increased due to warfare. Now every country wants to have the best defense and protection system to strengthen their military. Due to this, the Aircraft survivability equipment market trends will rise, and the market is expected to reach $5,910 million by registering a CAGR of 5.20% in the forecast period.
The aircraft survivability equipment market is segmented on the basis of the sub-system, platform, fit type, and region.
The major regions in the aircraft survivability equipment market are North America, Asia-pacific, Europe, and the rest of the world. Among these, the North American region is expected to see significant growth in the market during the forecast period. The growth in this region is due to government support for the advancement of aircraft and increasing investment in the military sector.
Market in the Asia-pacific region has shown significant growth. This is due to the increased spending by the governments in the military sector and large-scale research and development activities in aircraft survivability equipment across the regions like India, China, and South Korea.
The European market will witness significant growth in the forecast period owing to increasing demand for the advancement in the equipment market, increasing government spending—additionally the presence of strong key players.
Market Key Players
The major key players in the aircraft survivability equipment market are :
In 2021 March, the UK Ministry of defense awarded BE system. It is a contract worth $21 aircraft survivability equipment support. The contract is for four and half years that also includes annual service and repair.
In July 2021, the department of defense information analysis center awarded a contract to KBR. KBR is a technology and engineering solution company that provide services in support of navy training system and aircraft survivability equipment. This contract was worth $64.9 million and covers the training system hardware and software, and aircraft survivability equipment.
This report gives information on aircraft survivability equipment market outlook gathered from reliable sources. The report also highlights the impact of the covid-19 on the aircraft survivability equipment. Additionally, it covers market dynamics like drivers, opportunities, challenges, and restraints. It also includes regional analysis, market segmentation, recent development, and key players.
The Aircraft survivability equipment Market Grow At A CAGR Of 5.20% By 2020 -2030
By 2023, the aircraft survivability equipment market can worth USD 4,910 million.
Thales Group (France), Ruag Holding AG (Switzerland), and Terma A/S (Denmark) are some well-established aircraft survivability equipment market players.
The expansion of the aviation sector to support the aircraft survivability equipment market.
North America aircraft survivability equipment market to surge in the assessment period.