DUBLIN, Oct. 29, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/sgjq8g/global_military) has announced the addition of the "Global Military Aircraft Modernisation and Upgrade and Retrofit Market 2015-2019" report to their offering.
The report forecasts the global military aircraft modernization, upgrade and retrofit market to grow at a CAGR of 2.39% over the period 2014-2019.
This report provides a global overview, and the growth prospects by region (Americas, APAC, and EMEA). It also presents the market landscape and a corresponding analysis of the prominent vendors in the market. In addition, it discusses the major drivers influencing market growth, outlines the challenges faced by vendors and the market as a whole, as well as the key trends emerging in the market. The report includes a discussion of the key vendors operating in this market.
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.
Other prominent vendors
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Geographical segmentation
Part 07: Market drivers
Part 08: Impact of drivers
Part 09: Market challenges
Part 10: Impact of drivers and challenges
Part 11: Market trends
Part 12: Vendor landscape
Part 13: Key vendor analysis
Part 14: Appendix
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Laura Wood, +353-1-481-1716, [email protected]
SOURCE Research and Markets