Publication Month: May 2022 | Report Code: TIPRE00004966 | No. of Pages: 194 | Category: Aerospace and Defense | Status: Published
In the global aviation industry, low-cost carriers are gaining immense importance. The robust business models concerning ticketing, airport services, and onboard services facilitate low-cost carriers (LCCs) to attract passengers from all classes of society. The low-cost carriers, especially in the developing regions, continuously enhance their facilities and services for every class, including economy, premium economy, and business class. The LCCs globally compete among themselves on onboard technologies that facilitate a smoother travel experience for passengers and crews and enhance the safety of the aircraft. The demand for advanced technologies is stalling among LCCs. Moreover, the rising investment by developing countries such as India to develop LCCs is further expected to contribute to the growth of the aircraft interface device market. For instance, in July 2021, Rakesh Jhunjhunwala, an Indian billionaire, announced the plan to develop a low-cost airline in India, thereby boosting the demand for aircraft interface devices among the LCCs.
|Market Size Value in||US$ 174.06 Million in 2021|
|Market Size Value by||US$ 354.10 Million by 2028|
|Growth rate||CAGR of 11.5% from 2022 to 2028|
|No. of Pages||194|
|No. of Tables||106|
|No. of Charts & Figures||81|
|Historical data available||Yes|
|Segments covered||Platform, Connectivity, Fit Type, and Aircraft Type|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The global aircraft interface device market size is experiencing a steep growth regarding the adoption of the same among the commercial and defense aircraft (fixed wing and rotary wing). The market for aircraft interface devices consists of a few well-established players, which make huge investments to deliver high-tech products to their customers. However, the aircraft manufacturers are procuring advanced technologies from the aircraft component manufacturers to deliver aircraft integrated with enhanced technologies. Further, several airlines are investing substantial amounts in modifying their older aircraft with advanced technologies to keep up with the newer technologies. This factor is boosting the growth of the aircraft interfaced device market. Moreover, the rise in defense budgets in developing countries and developed regions facilitates the military to procure more advanced technology aircraft and aircraft components, including robust avionics, such as aircraft interface devices. This factor is helping in the proliferation of the aircraft interface device market in the current scenario.
The COVID-19 outbreak decimated the demand for aircraft globally, and aircraft manufacturers reported significantly lower orders, resulting in decreased production volumes. A decline in aircraft production volumes adversely affected the businesses of various component manufacturers and associated technologies. During the initial months of the pandemic in 2020, the entire commercial aviation industry came to a halt due to the minimal availability of resources. Operations at several production units in the US, France, Russia, and China were temporarily discontinued to ensure adherence to government rules related to physical distancing. The aircraft manufacturers witnessed a 30–50% reduction in demand for most aircraft models, especially commercial ones. The lower aircraft production and assembly have affected the demand for aircraft components. Thus, the destabilization of aircraft production hampered the aircraft interface device market players' businesses in 2020.
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The US aerospace industry has been consistently witnessing growth in technology, aircraft fleet size, aircraft component manufacturing, and air passengers, among others. The growth in domestic traffic resulted in increased aircraft capacity and production. This response is expected to thrive the demand for aircraft interface devices. The US is the major country experiencing a massive demand for retrofitting AIDs and continuously adapting technological advancements. This factor has led the OEMs to integrate advanced technologies for flight tracking, quick access recording, aircraft condition monitoring system (ACMS), and many more, thereby contributing to the aircraft interface device market growth.
The aircraft interface device market is classified based on aircraft type as fixed wing aircraft and rotary wing aircraft. The segments include both commercial and military aircraft. The significant rise in air passenger traffic has led commercial airlines to procure an increased number of fixed-wing aircraft. Similarly, with the demand for transportation of various goods, military vehicles, and military personnel, the defense forces are rapidly growing their fixed wing and rotary wing transport aircraft fleets. Also, to strengthen their Air Forces and Naval Forces, various defense forces are adopting newer fixed wing and rotary wing aircraft. The growing procurement of fixed wing and rotary wing aircraft fleets among the commercial airlines and military forces is increasing the adoption of aircraft interface devices. This factor, in turn, is boosting the growth of the aircraft interface device market in the current scenario.
The aircraft interface device market is segmented based on platform, connectivity, fit type, aircraft type, and geography. Based on platform, the market is segmented into hardware and software. Based on connectivity, the aircraft interface device market is categorized into wired and wireless. By fit type, the market is bifurcated into line fit and retrofit. Based on aircraft type, the aircraft interface device market is divided into fixed wing and rotary wing. Based on geography, the aircraft interface device market is primarily segregated into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Thales Group; Honeywell International, Inc.; AMETEK; Boeing; and Collins Aerospace are among the key players profiled during the study of the aircraft interface device market.
Players operating in the aircraft interface device market are mainly focused on the development of advanced and efficient products.