The report, now available on ASDReports, recognizes the following companies as the key players in the Global Military Aircraft Modernization and Upgrade and Retrofit Market: Denel Aviation, Elbit Systems, Israel Aerospace Industries, Rockwell Collins and Thales Group
Other Prominent Vendors in the market are: BAE Systems, Boeing, Dassault Aviation, Finmeccanica, Lockheed Martin and Northrop Grumman
Commenting on the report, an analyst said: “Many of the military aircraft are now using COTS components for upgradation and retrofitting requirements. COTS solutions are more cost-efficient than custom-tailored OEM-based products and solutions. For example, COTS solutions are being increasingly used in smart displays for military aircraft. The software utilized for such systems needs to provide seamless integration between different displays, and should be well-defined for mission-critical applications.”
According to the report, many of the major military forces worldwide consist of large fleets of aging aircraft. For example, the US military, one of the largest in the world, still operates fleets of Cold War-era aircraft. The current USAF aircraft fleet is 26 years old on average. The USAF further expects to operate many of its aircraft well beyond the original design service lives. Many of the other transport aircraft in the USAF are even more than 40 years old.
Further, the report states that reduction in defense budget along with a decrease in the number of troops, adversely affect the deployment of military aircraft and reduce the capability of militaries to maintain and operate existing fleets.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Source: ASDReports - Market Research
Date: Oct 12, 2015