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Military Aircraft Modernization and Retrofit Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 140 Pages
  • November 2023
  • Region: Global
  • IMARC Group
  • ID: 5901503
Description Jump to:
The global military aircraft modernization and retrofit market size reached US$ 58.0 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 73.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2022-2028.

Military aircraft modernization and retrofit assists in the development and modification of an existing aircraft with digital cockpit, weapon, mission and defensive systems. It improves the capability, extends the service life, provides scheduled maintenance operations, upgrades avionics system and troubleshoot mechanical issues. At present, numerous companies are offering innovative support and services for advanced fighter aircraft, which include electronic warfare, optronics, communications, attack systems, fire control radars, radio-navigation and identification systems, cockpit display systems, helmet-mounted sight, avionics suite and electrical power generation.

Due to rising geopolitical tensions, governing agencies of various countries are upgrading their existing fleet of military aircraft with advanced systems and components to maintain a strategic advantage on the modern battlefield. This represents one of the key factors impacting the market growth positively. Moreover, the growing traction of combat aircraft is escalating the demand for military aircraft modernization and retrofit to renovate them with defensive mechanisms and equipment and enhance their aerial combat and surveillance capabilities. Apart from this, the market players are investing in research and development (R&D) activities to increase aircraft speed, destructive force, power and stealth capabilities and introduce autopilot landing systems to help pilots during extreme weather conditions. These players are also integrating enhanced communication navigation surveillance (CNS) systems to improve situational awareness and reduce the workload of pilots. This is anticipated to provide lucrative opportunities to manufacturers for expanding their consumer base in the coming years.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global military aircraft modernization and retrofit market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on aircraft type and system type.

Breakup by Aircraft Type:

  • Fixed Wing Aircraft
  • Rotary Wing Aircraft

Breakup by System Type:

  • Navigation Systems
  • Weapon Systems
  • Headup Displays
  • Optronic Equipment
  • Fire Control Radars
  • Defensive Systems
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being BAE Systems Plc, Elbit Systems Ltd., Honeywell International Inc., Israel Aerospace Industries Ltd., L3Harris Technologies Inc., Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman Corporation, Safran SA, Thales Group and The Boeing Company.

Key Questions Answered in This Report:

  • How has the global military aircraft modernization and retrofit market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global military aircraft modernization and retrofit market?
  • What are the key regional markets?
  • What is the breakup of the market based on the aircraft type?
  • What is the breakup of the market based on the system type?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global military aircraft modernization and retrofit market and who are the key players?
  • What is the degree of competition in the industry?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Military Aircraft Modernization and Retrofit Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Aircraft Type
6.1 Fixed Wing Aircraft
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Rotary Wing Aircraft
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by System Type
7.1 Navigation Systems
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Weapon Systems
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Headup Displays
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Optronic Equipment
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Fire Control Radars
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Defensive Systems
7.6.1 Market Trends
7.6.2 Market Forecast
7.7 Others
7.7.1 Market Trends
7.7.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2 Asia-Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 South Korea
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 Australia
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Indonesia
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3 Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 France
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 United Kingdom
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Italy
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Spain
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Others
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.4 Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5 Middle East and Africa
8.5.1 Market Trends
8.5.2 Market Breakup by Country
8.5.3 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 BAE Systems Plc
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.1.3 Financials
13.3.1.4 SWOT Analysis
13.3.2 Elbit Systems Ltd.
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.2.3 Financials
13.3.3 Honeywell International Inc.
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.3.3 Financials
13.3.3.4 SWOT Analysis
13.3.4 Israel Aerospace Industries Ltd.
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.5 L3Harris Technologies Inc.
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.5.3 Financials
13.3.6 Leonardo S.p.A.
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.6.3 Financials
13.3.6.4 SWOT Analysis
13.3.7 Lockheed Martin Corporation
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.7.3 Financials
13.3.7.4 SWOT Analysis
13.3.8 Northrop Grumman Corporation
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.8.3 Financials
13.3.8.4 SWOT Analysis
13.3.9 Safran SA
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.9.3 Financials
13.3.9.4 SWOT Analysis
13.3.10 Thales Group
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
13.3.10.3 Financials
13.3.10.4 SWOT Analysis
13.3.11 The Boeing Company
13.3.11.1 Company Overview
13.3.11.2 Product Portfolio
13.3.11.3 Financials
13.3.11.4 SWOT Analysis
List of Figures
Figure 1: Global: Military Aircraft Modernization and Retrofit Market: Major Drivers and Challenges
Figure 2: Global: Military Aircraft Modernization and Retrofit Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Military Aircraft Modernization and Retrofit Market: Breakup by Aircraft Type (in %), 2022
Figure 5: Global: Military Aircraft Modernization and Retrofit Market: Breakup by System Type (in %), 2022
Figure 6: Global: Military Aircraft Modernization and Retrofit Market: Breakup by Region (in %), 2022
Figure 7: Global: Military Aircraft Modernization and Retrofit (Fixed Wing Aircraft) Market: Sales Value (in Million US$), 2017 & 2022
Figure 8: Global: Military Aircraft Modernization and Retrofit (Fixed Wing Aircraft) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 9: Global: Military Aircraft Modernization and Retrofit (Rotary Wing Aircraft) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Military Aircraft Modernization and Retrofit (Rotary Wing Aircraft) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Military Aircraft Modernization and Retrofit (Navigation Systems) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Military Aircraft Modernization and Retrofit (Navigation Systems) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Military Aircraft Modernization and Retrofit (Weapon Systems) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Military Aircraft Modernization and Retrofit (Weapon Systems) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Military Aircraft Modernization and Retrofit (Headup Displays) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Military Aircraft Modernization and Retrofit (Headup Displays) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Military Aircraft Modernization and Retrofit (Optronic Equipment) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Military Aircraft Modernization and Retrofit (Optronic Equipment) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Military Aircraft Modernization and Retrofit (Fire Control Radars) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Military Aircraft Modernization and Retrofit (Fire Control Radars) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Military Aircraft Modernization and Retrofit (Defensive Systems) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Military Aircraft Modernization and Retrofit (Defensive Systems) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Military Aircraft Modernization and Retrofit (Others) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Military Aircraft Modernization and Retrofit (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: North America: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: North America: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: United States: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: United States: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Canada: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Canada: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Asia-Pacific: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Asia-Pacific: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: China: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: China: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Japan: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Japan: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: India: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: India: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: South Korea: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: South Korea: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Australia: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Australia: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Indonesia: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Indonesia: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Others: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Others: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Europe: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Europe: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Germany: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Germany: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: France: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: France: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: United Kingdom: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: United Kingdom: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Italy: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Italy: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Spain: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Spain: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Russia: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Russia: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Others: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Others: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Latin America: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Latin America: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Brazil: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Brazil: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Mexico: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Mexico: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Others: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Others: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Middle East and Africa: Military Aircraft Modernization and Retrofit Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Middle East and Africa: Military Aircraft Modernization and Retrofit Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Middle East and Africa: Military Aircraft Modernization and Retrofit Market: Breakup by Country (in %), 2022
Figure 74: Global: Military Aircraft Modernization and Retrofit Industry: SWOT Analysis
Figure 75: Global: Military Aircraft Modernization and Retrofit Industry: Value Chain Analysis
Figure 76: Global: Military Aircraft Modernization and Retrofit Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Military Aircraft Modernization and Retrofit Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Military Aircraft Modernization and Retrofit Market Forecast: Breakup by Aircraft Type (in Million US$), 2023-2028
Table 3: Global: Military Aircraft Modernization and Retrofit Market Forecast: Breakup by System Type (in Million US$), 2023-2028
Table 4: Global: Military Aircraft Modernization and Retrofit Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Global: Military Aircraft Modernization and Retrofit Market: Competitive Structure
Table 6: Global: Military Aircraft Modernization and Retrofit Market: Key Players

Companies Mentioned

  • BAE Systems Plc
  • Elbit Systems Ltd.
  • Honeywell International Inc.
  • Israel Aerospace Industries Ltd.
  • L3Harris Technologies Inc.
  • Leonardo S.p.A.
  • Lockheed Martin Corporation
  • Northrop Grumman Corporation
  • Safran SA
  • Thales Group and The Boeing Company

Methodology

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Table Information

Report AttributeDetails
No. of Pages140
PublishedNovember 2023
Forecast Period2022 - 2028
Estimated Market Value ( USD ) in 2022 $ 58 Billion
Forecasted Market Value ( USD ) by 2028 $ 73.8 Billion
Compound Annual Growth Rate4.1%
Regions CoveredGlobal
No. of Companies Mentioned10

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