Over the next few years, it is anticipated that the expanding aviation industry and rising terrorist activity will create new market opportunities for air & missile defence systems. Major economies around the world are updating their military fleet to keep up with the rate of change in contemporary warfare. These nations are investing in the purchase of cutting-edge military aircraft, which will fuel the market. In addition to buying new planes, a number of economies are concentrating on updating their ageing fleet. These improvements are primarily concentrated on improving the aircraft's navigation and communication systems.
Strategic Initiatives taken by Leading Companies
Prominent companies operating in this industry are adopting different strategies such as new product development, technological innovation, facility expansion, investment, research and development, merger & acquisition, partnership, contract, and agreement in order to increase their geographical presence and consumer base in order to cater growing industry requirements.
Competitive Landscape
The global military electro-optical and infrared (EOIR) systems industry is highly competitive in nature as large number of players are operating in developed as well as developing economies. Some leading companies operating in this industry are Northrop Grumman, Lockheed Martin Corporation, Raytheon Technologies, Thales SA, Elbit Systems Ltd, L3Harris Technologies, General Dynamics Corporation , BAE Systems plc , Saab AB , Teledyne Technologies, Textron, Israel Aerospace Industries, Boeing, Corning Incorporated, CONTROP, Hensoldt AG, Rockwell Collins, Moog, Leidos Holdings, ManTech International Corporation, Logos Technologies , Rheinmetall AG , Kollmorgen, ASELSAN, and Airbus.