The global aircraft survivability equipment market is showing substantial growth scope and is slated to surpass a valuation of USD 4910 million by 2023. The rise would witness growth by 5.2% during the forecast period of 2018 to 2023. Market Research Future (MRFR) discusses various factors like the COVID-19 impact, increasing inclusion of top-end technologies, better funding for research and development, budgetary allocations, the prevalence of asymmetric warfare, and others as major contributing factors.
However, the market may suffer from the cost variations as the high cost of the products would prevent the market from expanding.
The report on the global aircraft survivability equipment market segments it by fit, subsystem, and platform to provide the readers a comprehensive picture of how the market is shaping up and where it is standing at present. The information fetched by experts for the exclusive report is backed by data and figures.
By fit, the global market for the aircraft survivability equipment has been segmented into line fit and forward fit. The report has an in-depth analysis of how these segments are performing.
By subsystem, the report on the global aircraft survivability equipment market examines the electronic support, electronic attack, and non-combat systems segments. Better digitalization is expected to help in preventing an electronic attack.
By platform, the report studying the aircraft survivability equipment market has been segmented into military transport aircraft, combat aircraft, UAVs, combat helicopters, and others. The UAVs segment is getting substantial traction as it helps in several surveillance projects and combat measures without causing any fatality for the operating side.
North America has the upper hand in managing the market and leading it from the front as the region enjoys the presence of countries like Canada and the US where the defense expenditure is quite high. Better research, competitive nature of companies, infrastructure allowing the integration of systems, and others are expected to boost the regional market.
The global aircraft survivability equipment market is showing ample opportunities to benefit from the strategic implementations of companies like Northrop Grumman (US), BAE Systems (US), Elbit Systems Ltd. (Israel), Thales Group (France), Terma A/S (Denmark), Chemring Group (UK), Israel Aerospace Industries (Israel), Raytheon (US), Ruag Holding AG (Switzerland), and Saab AB (Sweden). These companies are showing their intention of increasing their portfolio through mergers, collaborations, and acquisitions. They have also increased their funding for the research and development sector that will give them an edge over their peers. It boosts innovation and various launching strategies, along with branding and marketing.
A detailed COVID-19 analysis reveals the global market is suffering from a severe fund crunch and a financial crisis is about to step in. This is going to impact all the sectors and force industries to witness a curbing in their budgetary allocations both from government and private sectors. At present, lockdowns in several countries have halted the production process of various associated industries owing to which aircraft survivability equipment market can see some hindrances in its growth possibilities.
In April 2020, the U.S. Army announced that it had completed the Initial Operational Test and Evaluation (IOT&E) of the UH-60V Black Hawk. The aircraft is an upgraded variant of the legacy UH-60L and it comes with a digital glass cockpit and a top-class integrated avionics suite, which has been supplied by Northrop Grumman. It also comes with three types of threat simulations that will stimulate the aircraft’s survivability equipment.
Global Aircraft Survivability Equipment Market Research Report: By fit (Line, Forward), By subsystem (Electronic attack, Electronic support, Non-combat systems) and By Platform (Combat Aircraft, Military transport aircraft, Combat helicopters, UAVs, Others) – Forecast to 2025 @ https://www.marketresearchfuture.com/reports/aircraft-survivability-equipment-market-6744