Significant Rising Demands for Commercial Air Travel Across the Globe is Fueling the Market for Aircraft Communication Systems Market
Published Date : 01/02/2018
According to a new market research study titled 'Aircraft Communication Systems Market to 2025 - Global Analysis and Forecasts by Types, Components, and Aircraft Types?, the global aircraft communication systems market was valued at US$ 7112.0 Mn in 2016 and is estimated to reach US$ 15,375.1 Mn by 2025. The report highlights the trends prevalent in the global aircraft communication systems market and the factors driving the market along with those that act as deterrents to its growth.
The global aviation sector is witnessing a huge demand for modern aircrafts in both commercial as well as military aviation. Attributing to the fact that, the disposable income in the developing countries is increasing substantially, the need for air travel is also increasing at the same pace. On a global scenario, commercial air traffic is foreseen to maintain a constant growth over the period, despite of various challenges faced by the commercial airlines. However, the challenges are succeeded by the rise in passenger numbers across the globe. The low cost carriers (LCC) in the developed economies as well as developing economies are turning the revolution by offering low fare business models which is increasing the demand for air travel among the upper middle class and middle class society of developing nations. According to International Air Transport Association, the commercial aviation passenger number is expected to rise up to 7.2 billion in 2035 as compared to 3.8 billion in 2016. Asia Pacific will be the highest revenue generator region in the world, owing to huge growth in air traffic in the countries such as China, India, and Japan among others. China is anticipated to surpass the United States by 2024, owing to growth in aviation traffic to, from and within the nation. India will displace the United Kingdom, to become the third largest commercial air carriers in the world.
The growth of market for aircraft communication systems is promising during the forecast period from 2017 to 2025, pertaining to various factors such as significant investment is being made to design and develop robust avionics for commercial aircrafts as well as military aircrafts, increase in modernization and retrofit activities among the defense forces and commercial airlines across the globe. Furthermore, strategic partnerships and mergers among the industry participants is a trend that is likely to boost the growth of the market for global aircraft communication systems over the period. The major factor boosting the market growth is the increasing demand for enhanced communication and navigation systems in the aerospace industry, owing to substantial growth of commercial air traffic worldwide.
The global aircraft communication systems market has been segmented on basis of various parameters such as types, components, aircraft types and geography. Based on types the market for aircraft communication systems is segmented as VHF/UHF/HF radios, data links and SATCOM. The components segment include antenna, transponder, transceiver, and display & processors. The aircraft communication systems market is bifurcated on basis of aircraft types as commercial aircrafts and military aircrafts. The market is further analyzed by categorizing the market on basis of five strategic regions across the globe as North America, Europe, Asia Pacific, Middle East and Africa, and South America.
The major players operating in the market for aircraft communication systems, can look to venture for business enhancement. The key players profiled in the report are Cobham Plc., Harris Corporation, Rockwell Collins, Raytheon Corporation, Honeywell International Inc., Viasat Inc., Thales Group, L-3 Technologies Inc., Northrop Grumman Corporation, and General Dynamics Corporation among others.
Global Aircraft Communication Systems Market Breakdown, by Regions, 2016 (%)
Source: The Insight Partners Analysis
The report segments the global aircraft communication systems market as follows:
Global Aircraft Communication Systems Market - By Types
Global Aircraft Communication Systems Market - By Components
Display & Processor
Global Aircraft Communication Systems Market - By Aircraft Types
Global Aircraft Communication Systems Market - By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
Rest of MEA
South America (SAM)