Aircraft Survivability Equipment Market Overview:
Aircraft survivability equipment includes various types of systems and fittings that increase an aircraft’s survivability and reduce its vulnerability to all kinds of external threats. Simply put, the role of aircraft survivability equipment is to minimize the vulnerability of aircraft to all possible threats. The global aircraft survivability equipment market is expected to grow at a CAGR of 5.20% over the 2018-2023 forecast period, rising from a valuation of USD 3,620 million in 2017 to USD 4,910 million in 2023.
This involves physical equipment meant to reduce damage from traditional missiles and other projectiles as well as electronic equipment designed to prevent the aircraft from falling prey to electronic attacks. Aircraft survivability equipment performs a crucial role in air defense and is thus allotted a major part of air force expenditure. The growing importance of air combat in modern warfare is likely to drive the global aircraft survivability equipment market at a steady growth rate over the 2018-2023 forecast period.
The major drivers for the global aircraft survivability equipment market include the rising demand to replace traditional equipment and systems with advanced versions, and the rising prevalence of asymmetric warfare. Militaries around the world are investing heavily in technological upgradation to provide their units with the most advanced equipment, resulting in increasing demand from the aircraft survivability equipment market.
The rise in asymmetric warfare is likely to elevate the importance of aircraft to modern military forces, forcing them to invest in aircraft survivability equipment. Increasing troubles related to insurgency and guerilla warfare around the world are thus likely to drive the global aircraft survivability equipment market over the 2018-2023 forecast period. Surface to air missiles are a vital resource for insurgents looking to counter air attacks. As a result, countries are likely to invest in protection against the same over the coming years, resulting in steady growth of the aircraft survivability equipment market over the forecast period.
On the other hand, the high cost of advanced aircraft survivability equipment and the high cost of replacing the existing systems in aircraft fleets en masse is likely to hurt the prospects of the aircraft survivability equipment market in the short term. While advanced countries such as the U.S. have committed significant expenses towards large-scale modernization of their armed forces, not all countries can afford to follow suit and apply the latest aircraft survivability equipment.
This has led to a disparity among the major regions as to their role in the global aircraft survivability equipment market. However, demand from the defense sector is likely to remain the major driver for the global aircraft survivability equipment market over the forecast period.
Aircraft Survivability Equipment Market Segmentation:
The report segments the global aircraft survivability equipment market by fit, subsystem, platform, and region in order to provide readers with a comprehensive picture regarding the present conditions in the global aircraft survivability equipment market and its growth prospects over the forecast period.
By fit, the global aircraft survivability equipment market is segmented into line fit and forward fit. By subsystem, the report examines the electronic attack, electronic support, and non-combat systems segments. By platform, the report divides the market into combat aircraft, military transport aircraft, combat helicopters, UAVs, and others. By region, the report looks into the performance of the aircraft survivability equipment market in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Competitive Analysis:
The report provides detailed profiles of the leading players in the aircraft survivability equipment market in order to present a comprehensive picture of the market’s competitive landscape. Leading players in the global aircraft survivability equipment market include BAE Systems (US), Elbit Systems Ltd. (Israel), Northrop Grumman (US), Chemring Group (UK), Israel Aerospace Industries (Israel), Thales Group (France), Terma A/S (Denmark), Ruag Holding AG (Switzerland), Raytheon (US), and Saab AB (Sweden), among others.
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