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Research and Markets has announced the addition of the "Global Military Avionics Market Assessment 2014-2023"report to their offering.
This study covers military avionics spending on new procurement and upgrade programs across the globe, specifically focusing on nations having defense budgets of $1 billion and above. It identifies the recent and upcoming key programs and provides insights into the estimated avionics spending. It discusses the current and future trends with regard to the systems that will be procured.
The segmentation and revenue forecast analyses have been provided across the key product and platform segments. The study attempts to assess the impact of aircraft procurement and upgrade programs on the avionics spending with a focus on the evolving regional mission requirements that drive the uptake. The regional analysis also includes a discussion of the potential route-to-market opportunities.
During the forecast period, the market will be realizing Open Systems Architecture (OSA)- based Integrated Modular Avionics (IMA). This will complement future C4ISR networks.
Ongoing efforts at naval modernization and increased focus on land platforms and operations will keep the short-and medium-term spending low. However, towards the end of the medium term, major aircraft procurement programs will converge, leading to higher avionics spending.
Combat aircraft (fourth/fifth generation fighters, attack helicopters) and special mission aircraft (maritime patrols/aerial refueling tankers/multi-role helicopters) will remain prominent in the major aircraft acquisition programs globally.
Intelligence, reconnaissance, and surveillance (ISR) requirements will drive the forces to choose avionics that will help them execute efficient surveillance/reconnaissance missions. Conflicts in Eastern Europe/Africa, rising threat perceptions in the South China Sea, and smuggling and piracy in Latin America/North-East Africa will drive the defense spending.