Asia-Pacific Military Aircraft Modernization and Retrofit Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

APAC Military Aircraft Modernization and Retrofit Market is segmented by Aircraft Type (Fixed-Wing, Rotary Wing), and Country.

Asia-Pacific Military Aircraft Modernization and Retrofit Market Size

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Asia-Pacific Military Aircraft Modernization and Retrofit Market Analysis

The Asia-Pacific Military Aircraft Modernization And Retrofit Market size is estimated at USD 14.32 billion in 2025, and is expected to reach USD 17.80 billion by 2030, at a CAGR of 4.45% during the forecast period (2025-2030).

The growing need for interoperability with allies, evolving mission requirements, and the obsolescence of older aircraft are creating the demand for military aircraft modernization and retrofit market in the region. Concerns over regional security challenges have prompted nations to strengthen their defense capabilities, leading to a surge in demand for advanced military aircraft.

The retrofit market plays a crucial role as countries look to extend the operational life of existing aircraft while integrating new technologies. Upgrading communication systems, sensors, and weapon systems are common retrofit objectives, ensuring that older platforms remain relevant in the face of evolving threats. The regional drive to develop indigenous military aircraft has driven the administration to draft favorable policies for the market players to promote an R&D-intensive environment, thereby acting as a growth driver for the market studied.

Asia-Pacific Military Aircraft Modernization and Retrofit Industry Overview

The Asia-Pacific military aircraft modernization and retrofit market is semi-consolidated, and it is dominated by players such as Lockheed Martin Corporation, RTX Corporation, Elbit Systems Ltd, Northrop Grumman Corporation, and BAE Systems PLC. These market players focus on designing, engineering, and manufacturing aerostructures, subassemblies, and systems. Several companies have formed long-term partnerships with the air forces to upgrade and enhance military aircraft capabilities as well as for the development of future aircraft modernization programs for the defense ministry.

Asia-Pacific Military Aircraft Modernization and Retrofit Market Leaders

  1. Lockheed Martin Corporation

  2. Northrop Grumman Corporation

  3. BAE Systems plc

  4. Elbit Systems Ltd.

  5. RTX Corporation

  6. *Disclaimer: Major Players sorted in no particular order
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Asia-Pacific Military Aircraft Modernization and Retrofit Market News

October 2023: South Korea unveiled its newly developed fighter jet, the KF-21, at a defense exhibition in Seoul. The KF-21 is designed as a more affordable alternative to Lockheed Martin's F-35 for deep strikes into adversarial territories.

February 2023: The Crown Group was contracted by the Indian government to provide full maintenance, replacement, and avionics support to the existing fleet of Indian fighter jets, such as the MiG 29K of the Indian Navy, the MiG 29, Mirage 2000, and Sukhoi, under its significant international OEM tie up.

Asia-Pacific Military Aircraft Modernization and Retrofit Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Drivers
  • 4.2 Market Restraints
  • 4.3 Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Aircraft Type
    • 5.1.1 Fixed-wing
    • 5.1.2 Rotary-wing
  • 5.2 Geography
    • 5.2.1 China
    • 5.2.2 India
    • 5.2.3 Japan
    • 5.2.4 South Korea
    • 5.2.5 Australia
    • 5.2.6 Rest of Asia-Pacific

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles
    • 6.2.1 RTX Corporation
    • 6.2.2 L3Harris Technologies Inc.
    • 6.2.3 BAE Systems PLC
    • 6.2.4 Lockheed Martin Corporation
    • 6.2.5 Elbit Systems Ltd
    • 6.2.6 Honeywell International Inc.
    • 6.2.7 Northrop Grumman Corporation
    • 6.2.8 Safran
    • 6.2.9 General Dynamics Corporation
    • 6.2.10 Leonardo SpA
    • 6.2.11 THALES
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Asia-Pacific Military Aircraft Modernization and Retrofit Industry Segmentation

The Asia-Pacific military aircraft modernization and retrofit market encompasses the procurement of the different types of aircraft combat, such as multi-role, transport, and ISR, as well as the upgrade and modernization plans currently underway to enhance the aerial capabilities of the regional armed forces. It also provides insights into the budget allocation and spending of the various countries in the region in the past and present, as well as during the forecast period.

The Asia-Pacific military aircraft modernization and retrofit market is segmented by aircraft type and geography. By aircraft type, the market is segmented into fixed-wing and rotary-wing. The report also offers the market size and forecasts for five countries across the regions. The report offers the market size in value terms in USD for the abovementioned segments.

Aircraft Type Fixed-wing
Rotary-wing
Geography China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
Aircraft Type
Fixed-wing
Rotary-wing
Geography
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
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Asia-Pacific Military Aircraft Modernization and Retrofit Market Research FAQs

How big is the Asia-Pacific Military Aircraft Modernization And Retrofit Market?

The Asia-Pacific Military Aircraft Modernization And Retrofit Market size is expected to reach USD 14.32 billion in 2025 and grow at a CAGR of 4.45% to reach USD 17.80 billion by 2030.

What is the current Asia-Pacific Military Aircraft Modernization And Retrofit Market size?

In 2025, the Asia-Pacific Military Aircraft Modernization And Retrofit Market size is expected to reach USD 14.32 billion.

Who are the key players in Asia-Pacific Military Aircraft Modernization And Retrofit Market?

Lockheed Martin Corporation, Northrop Grumman Corporation, BAE Systems plc, Elbit Systems Ltd. and RTX Corporation are the major companies operating in the Asia-Pacific Military Aircraft Modernization And Retrofit Market.

What years does this Asia-Pacific Military Aircraft Modernization And Retrofit Market cover, and what was the market size in 2024?

In 2024, the Asia-Pacific Military Aircraft Modernization And Retrofit Market size was estimated at USD 13.68 billion. The report covers the Asia-Pacific Military Aircraft Modernization And Retrofit Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific Military Aircraft Modernization And Retrofit Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Page last updated on: June 16, 2024

Asia-Pacific Military Aircraft Modernization and Retrofit Industry Report

Statistics for the 2025 Asia-Pacific Military Aircraft Modernization And Retrofit market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Military Aircraft Modernization And Retrofit analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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