ICT RESEARCH REPORTS Thrust-Vector-Control-System-Market | Page 2

Therefore, these factors are expected to drive growth of the TVC system market over the
forecast period.
However, the level of complexity is very high, which further requires skilled workforce for
developing these TVCs. Therefore, the lack of availability of skilled forces is further expected to
hinder growth of the market.
The Global Thrust Vector Control System Market: Segment Trends
Among technology, the flexible nozzle segment accounted for the largest market share in 2017
and is expected to remain largest over the forecast period. This is owing to the ability of flexible
nozzle to maintain the overall weight of the military aircraft. Moreover, the nozzle reduces the
over-all cost of manufacturing of the aircraft.
The Global Thrust Vector Control System Market: Regional Insights
The market for TVC system in North America accounted for the largest market share in 2017 and
is expected to remain largest over the forecast period. This is owing to presence of major
manufacturers of military aircrafts such as Lockheed Martin, Dassault Aviation, Pentagon, and
others in the region. For instance, according to the press release of Lockheed Martin, December
2017, Lockheed Martin delivered 66 F-35 fighter jets to the U.S. Such rise in production of
military aircrafts is expected to increase demand for TVC systems in North America.
Moreover, growing investment of the U.S. government on Military and Defense sector further
propels growth of the TVC system in North America. For instance, according to the U.S.
Government Spending Analysis, in 2016, the U.S. government spent US$ 593.40 billion on
military and it increased to US$ 598.70 billion in 2017. Such growing investment is expected to
further contribute to increasing production of military aircrafts. This in turn is expected to propel
demand for TVC systems in the region.
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The market for Asia Pacific region is expected to witness significant growth with highest CAGR
over the forecast period. This is owing to increasing government investments on launching new
rockets and launch vehicles. For instance, according to the IBEF (India Brand Equity
Foundation).org analysis, in August 2017, the government of India sanctioned US$ 1.35 billion to
Indian Space Research Organization (ISRO). The aid helps ISRO to launch 21 rockets and 50
satellite within 4 years. Therefore, increasing production of rockets and satellites is expected to
propel demand for TVC system in Asia Pacific.
Thrust Vector Control System Market: Competitive Landscape
The market for global TVC system is highly competitive. This has led to increasing focus of key
players on the areas of product offerings, R&D investments, and merger and acquisition in order
to gain competitive edge in the market. For instance, in January 2016, Moog Inc., launched