Air based defense equipment Manufacturing Market Characteristics
The air based defense equipment manufacturing market consists of sales of air based defense equipment by entities that produce air based defense equipment including support and auxiliary equipment for air based defense such as radar, satellites, sonars and other auxiliary equipment.
Competitive Landscape of the Air Based Defense Equipment Manufacturing market
Major players in the global air based defense equipment manufacturing market include The Boeing Company, Lockheed Martin, General Dynamics Corporation, Northrop Grumman, Safran Group
Air Based Defense Equipment Manufacturing Market Size
The air based defense equipment manufacturing market size is expected to increase by 2021, significantly growing at a CAGR of around 5% during the forecast period. The growth in the air based defense equipment market is due to rise in demand for fighter jets by developing nations like India and Middle East
However, the market for air based defense equipment is expected to face certain restraints from several factors such as rising cost of fuel and trade restrains
Air Based Defense Equipment Manufacturing Market Segmentation
The global air based defense equipment manufacturing market is further segmented based on type and geography.
By Type - The air based defense equipment manufacturing market is segmented into fighter aircrafts, military helicopters, military gliders and drones among these segments, the fighter aircrafts market accounts for the largest share in the global air based defense equipment market.
By Geography - The global air based defense equipment manufacturing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global air based defense equipment market.
Trends in the Air Based Defense Equipment Manufacturing Market
Aircraft manufacturers are using machine-learning techniques such as artificial intelligence (AI) to improve safety, productivity and quality of aircrafts. Machine learning algorithms collect data from machine-to-machine and machine-to-human interfaces and use data analytics to drive effective decision making. These technologies optimize manufacturing operations and costs. For example, GE Aviation uses machine learning and data analytics to identify faults in engines, which increases lifecycle of parts and reduces maintenance costs. Boeing has successfully built machine-learning algorithms for aircraft designing and to automate factory operations.
Potential Opportunities in the Air Based Defense Equipment Manufacturing Market
With increase in demand for defence equipment from developing nations and increasing government investments in military and defence industry, the scope and potential for the global air based defense equipment manufacturing market is expected to significantly rise in the forecast period.