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Aircraft Modernization Market by Type (Combat aircraft, Transport aircraft and others), Size (Passenger Turboprops, Light Passenger Jets, Mid-Size Passenger Jets, Jumbo Passenger Jets and Cargo Airplanes), Application (Commercial Airplanes, Private Jets and Private Propeller Planes), and Aircraft Type (Fixed-wing Aircraft and Helicopter): Global Opportunity Analysis and Industry Forecast, 2020–2027

A10190
Pages: NA
Jun 2021 | 161 Views
 
Author(s) : NA
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Aircraft modernization consists of modification, upgradation and substitution of existing infrastructure and equipping latest technologies to ensure efficiency and productivity of the aircraft. Aircraft modernization focusses on improving the workability of aircrafts with the help of modern equipment and automation. Increased air travel, frequent flights and rise in defense expenditure results in the market growth of aircraft modernization market and open new opportunities for manufacturers. Globally, technological, economic and political factors provide a business growth pathway for the aviation industry. Moreover, aircraft modernization escalates the sustainability of aircrafts for a longer time period.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Type, Size, Application, Aircraft Type, and Region

  Regions covered

North America (The U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa

  Companies covered

Raytheon Company, BAE Systems PLC, Lockheed Martin Corporation, Boeing Co, Airbus SE, Saab AB, Dassault, Safran Group , General Dynamics Corporation and Northrop Grumman

 

COVID-19 scenario analysis: 

Ongoing COVID-19 situation has obstructed and caused delays in current deliveries of aircrafts, as well the future deliveries of the aviation industry globally.

The pandemic changed the priorities of the militaries and government towards healthcare due to which aviation industry will not be the center of attention for upcoming years.

Aviation industry also suffered from huge financial losses due to restrictions and travel bans globally.

Maintenance of aircrafts is expected to fall with the loss in revenue and terminated flights which eventually revamps the demand for aircraft modernization market.

Top impacting factors: market scenario analysis, trends, drivers and impact analysis

Globally expanding Maintenance, Repair and Overhaul(MRO) budget for airlines, geo-political tensions, and enhancement of old and aging aircrafts are the key factors that drive the aircraft modernization market. However, high initial cost and complicated supply chain of the modern technology restrains the market growth opportunity of the aviation industry. Moreover, aircraft modernization market benefits from the rising adaption of Communication, Navigation and Surveillance(CNS) systems and Synthetic Vision Avionics Backbone(SVAB) systems in the aircrafts.

The aircraft modernization market trends are as follows:

Globally expanding Maintenance, Repair and Overhaul(MRO) budget for airlines 

as the business in commercial as well as private aviation industry grows, expenditure on maintenance, repair and overhaul of aircrafts in the aviation industry is anticipated to grow. Developing nations provides a rapid growth opportunity the aircraft modernization market. For instance, the Civil Aviation Administration of China projects that there will be almost double airports in china by 2035 owing to the spike in demand and the government’s big push to fund the necessary infrastructure. Continuous rise in aircraft acquisition presents new opportunities for the aircraft modernization market. 

Enhancement of old and aging aircrafts

Persistent innovation and technological revolutions around the world are being adopted quickly by modern aircrafts for faster & safe operation. For instance, in October 2019, United States government approved upgradation of 98 F-15 Eagle interceptors for Japan which included induction of new electronic warfare equipment (AN/ALQ-239 digital electronic warfare systems), new mission computers (Honeywell Advanced Display Core Processor II mission computers), advanced electronically scanned array radar (Raytheon AN/APG-82(v)1 multimode AESA) and new munitions. Investments in aircraft equipment and upgradation of existing infrastructure boosts the aircraft modernization market. 

Key segments covered:

Segments

Sub-segments

  Type

  • Combat aircraft
  • Transport aircraft
  • Others

  Size

  • Passenger Turboprops
  • Light Passenger Jets
  • Mid-Size Passenger Jets
  • Jumbo Passenger Jets
  • Cargo Airplanes

  Application

  • Commercial Airplanes
  • Private Jets
  • Private Propeller Planes

  Aircraft Type

  • Fixed-wing Aircraft
  • Helicopter

 

Key benefits of the report:

  • This study presents the analytical depiction of the aircraft modernization industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the aircraft modernization market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight aircraft modernization market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed aircraft modernization market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the aircraft modernization market research report:

  • Which are the leading market players active in the aircraft modernization market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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