Military Aviation Market Research Reports, Analysis & Trends
Military aviation industry comprises companies/ firms that operate by manufacturing, designing, producing and supplying of complete military aviation related products such as aircraft, space vehicles, carriers, missiles, and all the components and associated parts. This industry also manufactures certain prototypes of aerospace related products such as convert aircraft, aircraft propulsion systems overhaul and rebuilding and periodic restoration of aircraft to original design specifications. The aviation and aerospace industries engage in collaborated work that cater in terms of operations, flight and flight management of passenger, commercial and military and government aircraft. Basically, aerospace industry designs, engineers, develops, tests and eventually manufactures aircraft for purposes and consumers from civilian airlines, commercial, surveillance, law enforcement and military. In addition, the aerospace industry is responsible for manufacturing and development of the vehicles or aircraft that are capable of leaving the earth's atmosphere such as space shuttles, rockets, high-altitude aircraft, and satellites that are used for various purposes. Aerospace manufacturing creates many high technology products, including, aircraft, aircraft engines, guided missiles, propulsion units, and space vehicles. The largest consumers of aerospace and aircraft technology in the US are the Department of Defense and the NASA.
Military Aviation Current Trends
Military aviation across the globe is on a brink of growth and thriving force of revenue collection that surpasses every year in the history. The global military aircraft industry is anticipated to experience moderate declines in North America and Europe through 2014 due to budget cuts announced for the period. Conversely, Asia is expected to drive the industry by increasing defense expenditures from emerging economies such as India, China, and some Middle East countries. Industry revenue is forecast to reach an estimated US $60 billion in 2017 with a CAGR 0.22% over the next five years. The global military aircraft industry comprises manufacturers and suppliers of military protective combat aircraft and non-combat aircraft. The industry is highly consolidated in terms of suppliers as well as buyers, and is highly dependent on government spending. North America dominates this industry, which is dominated by defense expenditures for multi-year aircraft programs collaborated on by different groups of nations.
Traditionally, North America and Europe accounted for around 80% of global defense spending. However, the global economic downturn, US economic crisis, and European debt crisis are expected to negatively impact the defense spending and lead to defense budget cuts. As a consequence, the allocation for military aircraft is not expected to grow significantly during the forecast period owing to financial constraints faced by most of the leading defense spenders. For example, the US, the largest defense spender, announced defense budget cuts of US$178 billion between 2011 and 2015. As a result, the US government cancelled its C-17 transport aircraft project in 2010, which resulted in an estimated $3 billion savings. In January 2011, the German government decided to cut orders for A400M military transport aircraft from 60 to 53 aircraft and is also planning to sell 13 aircraft to foreign customers. Aircraft such as the F-35 and F-22 require large amounts of on-board electrical power. Power demand has been rising sharply, especially for military platforms. Associated with this trend is an increased need for efficient power conversion and distribution, and thermal management systems. High power electrical systems on aircraft flying at high-speed and high altitude present unique thermal challenges both at the application and system level.
Military Aviation Industry Players
Major players in the military aviation industry include BAE Systems, Northrop Grumman, Elbit Systems, UAC, EADS, Rolls Royce, Honeywell International, Lockheed Martin, Boeing, SAAB, and Thales.