(I-BusinessNews.Com, October 17, 2020 ) According to the latest market research the Aircraft Survivability Equipment Market is projected to grow from USD 3.54 Billion in 2017 to USD 4.62 Billion by 2022, at a CAGR of 5.49% from 2017 to 2022.Replacement of legacy systems with advanced combat systems, increase in asymmetric warfare, and the threat of advanced infrared (IR) and radio-frequency (RF) targeting systems are the major factors driving the aircraft survivability equipment market.
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Based on platform, the UAV segment is projected to grow at the highest CAGR during the forecast period
Based on platform, the UAV (unmanned aerial vehicle) segment of the aircraft survivability equipment market is estimated to witness the highest growth rate during the forecast period. UAVs are remotely piloted aerial vehicles that have significant roles in the defense as well as commercial sectors. These aerial vehicles, also commonly termed as drones, are widely used for varied missions, such as border surveillance, mapping, surveying, weather determination, law enforcement, and targeted attack by the military. The military UAVs use ASE for protection against various known and unknown threats.
Based on subsystem, the electronic support segment is estimated to witness the highest growth during the forecast period
Based on subsystem, the electronic support segment of the aircraft survivability equipment market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing need to protect aircraft against missiles and other such threats. IFF (Identification, Friend or Foe), RWR (Radar Warning Receiver), LWS (Laser Warning System), and MWS (Missile Warning System) are the major systems included in the electronic support segment.
Based on fit, the forward fit segment is estimated to witness a higher growth rate than the line fit segment during the forecast period
Based on fit, the forward fit segment of the aircraft survivability equipment market is projected to grow at a higher CAGR than the line fit segment during the forecast period. The anticipated higher growth rate of the forward fit segment is due to the huge number of aging aircraft that will need to be upgraded with advanced systems.
The Middle East market is expected to witness the highest growth during the forecast period
Among regions, the Middle East aircraft survivability market is projected to grow at the highest CAGR during the forecast period. Increasing revenue from oil exports, GDP growth, growing tension between the US and Iran, and the ongoing war in Syria have considerably increased the military spending of countries in the Middle East region.
Key Market Players
Major companies profiled in the aircraft survivability equipment market report are Northrop Grumman Corporation (US), Orbital ATK, Inc. (US), Thales Group (France), Chemring Group PLC (UK), Saab AB (Sweden), BAE Systems (UK), and Israel Aerospace Industries Ltd. (Israel), among others.
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