Market Overview:
Military Aircraft Digital Glass Cockpit Systems Market is expected to USD 1,88.12 million by 2030 At a CAGR 3.1% during the forecast 2022-2030.
The geographic analysis of the Military aircraft digital glass cockpit systems market CAGR has been conducted for North America, Europe, Asia-Pacific, the Middle East Africa, and South America.
Key Players:
The key players of the Military Aircraft Digital Glass Cockpit Systems Market include Thales Group, Astronautics Corporation Of America, Elbit Systems Ltd, Collins Aerospace, Garmin Ltd, Sandel Avionics Inc., L3harris Technologies, Inc., Transdigm Group, Meggitt Plc, and Honeywell International Inc.
Market Segmentation:
The global Military Aircraft Digital Glass Cockpit Systems Market has been segmented on the basis of system and aircraft type.
The global Aircraft Digital Glass Cockpit Systems market has been segmented on the basis of system, multi-functional display systems, primary flight display, engine-indicating crew alerting system (EICAS) display.
The global Aircraft Digital Glass Cockpit Systems market, based on aircraft type, has been segmented into fighter jet, transport aircraft, helicopter special mission, and other aircraft.
Region Analysis:
North America, by country, has been segmented into the US, Canada, and Mexico. North America accounts for the significant market share in 2021 due to the alliance increased its defense spending by a cumulative total of USD 190 billion since 2014, when NATO pledged 2 percent of GDP for defense; eleven Allies met that benchmark in 2020. This shows the country's significance in aerospace defense towards making it smart as well as disciplined to safeguard their armed forces are equipped to deter adversaries, defeat threats, defend their people, interests, and allies. Hence, the country is expected to continue investing heavily in the aerospace defense sector, which is expected to increase the demand for Military aircraft digital glass cockpit systems market data in the near future.
In Europe, several big players in the aircraft industry, including Airbus (large commercial and military aircraft, drones, and spacecraft), Airbus Helicopters, Dassault Aviation (high-end business jets, fighter aircraft, UAVs), ATR (passenger and cargo turboprop aircraft for regional transport, an Airbus JV with Italian firm Leonardo), and Daher (TBM and Kodiak light aircraft and business turboprops). The aerospace industry in the UK stands second after the US exporting more than 97% of domestically produced engines, helicopters, wings, structures, and aircraft systems. The country employs more than 57,000 people in more than 3,000 small and medium-sized enterprises and large enterprises. The UK government agencies have shown interest in developing and increasing the domestic supply chain practices in the region.
The Asia-Pacific Military Aircraft Digital Glass Cockpit Systems Market, based on country, has been segmented into China, Japan, India, South Korea, Taiwan, Malaysia, Indonesia, Thailand, and the rest of Asia-Pacific. Asia-Pacific is expected to create scope for the fasteners market due to emerging in space exploration activities. IAF showcased 'Made in India' fighter jets named Tejas at Singapore Air Show held in February 2022. Tejas was developed by Hindustan Aeronautics Limited (HAL) in collaboration with Aeronautical Development Agency (ADA) for Indian Air Force and the Indian Navy. The Indian government ordered 83 LCA Tejas aircraft from HAL, costing over INR 48,000 in January 2021. Further, India is expected to continue increasing its expenditure on defense, with a defense budget of USD 44.6 billion for the year 2019–2020, up 9.3 percent. The country plans to spend over USD 130 billion in the next five years modernizing armed forces and strengthening combat capabilities.
China is among the top contributors in the Military Aircraft Digital Glass Cockpit Systems Market due to China's military, published in November 2021 by Department of Defense, USA. Meanwhile, according to the Pentagon estimation, the country owns more than 2,800 aircraft in the People's Liberation Army Air Force (PLAAF) and People's Liberation Army Navy (PLAN) forces. Among these, over 2,250 comprise dedicated combat aircraft, 1,800 fighters, and more than 800 are fourth-generation jets. However, China is focused on developing aircraft with innovative technologies and the required talents to gain maximum from their aircraft while overcoming the engine problems faced previously. This is expected to increase the demand for advanced digital cockpit display systems in the upcoming period.
The Middle East African countries, including Saudi Arabia, Oman, Kuwait, Lebanon, Jordon, and Israel, are among the top 10 countries globally that have been highly spending as a part of their GDP. Further, the UAE plans to buy over a dozen aircraft from China since it raised concerns over the series of attacks from Yemeni rebels. For this, the country has signed an agreement with China-based China National Aero-Technology Import Export Corporation (CATIC) to buy L-15 training and light combat aircraft. This brings in opportunities for Military Aircraft Digital Glass Cockpit Systems Market players to further expand their business and market reach.
Brazil is one of the major markets for the military aircraft digital glass cockpit systems. However, other countries such as Argentina, Bolivia, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Suriname, and Uruguay, among others are also contributing to the market growth. The countries in the region are increasing their defense expenditure budgets to re-arm their frontline fighter fleets with advanced technology.
Related Report:
Military Simulation and Virtual Training Market: Information by Platform (Airborne [Jet Flight Simulation and Training, Rotary Flight Simulation and Training and UAV Flight Simulation and Training], Ground [Battlefield Simulation and Training, Combat Simulation and Training, Ground Vehicle Simulation and Training and others] and Naval [Ship Bridge Simulation and Training, Submarine Simulation and Training and others]), Training Type (Live, Virtual Reality [VR], Constructive and Gaming Simulation) and Region (North America, Europe, Asia-Paci
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