Aerospace Communication System Market Trends Focusing on Top Key Vendors - L3 Technologies, Lockheed Martin, UTC Aerospace Systems, Cobham, Harris Corporation, Northrop Grumman, Raytheon, Rockwell Collins, Thales

Market Overview:-

SATCOM is projected to dominate the aircraft communication system market share with over 35% over the forecast time span owing to benefits offered such as superior communication and efficient air traffic management. Moreover, high usage in military aircrafts will improve the product penetration due to rising orders. HF communication systems will pose a CAGR of 7.5% between 2017 and 2024 owing to continuous product innovations.

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Global aircraft communication system market is predicted to cross USD 1.3 billion by 2024. Rising adoption of advanced technologies along with proliferating aviation sector is primarily driving the industry. Various emerging nations are experiencing an increase in air passenger traffic due to affordable prices. This has led to increase in airplane deliveries from multiple manufacturers further boosting the industry growth rate.

Industry Growth drivers:

• Expansion in North American defense industry along with rising demand for advanced fighter jets

• Rapid adoption of advanced aircraft communication technologies in Europe

• Rising number of aircraft deliveries in Asia Pacific

• Sound growth potential for aviation industry

• Rising demand for business jets along with growth in tourism industry in MEA

Top Key Players:-

The key players of global Aircraft Communication System Market are Cobham Plc, General Dynamics, Harris Corporation, Honeywell Aerospace, Iridium Communications Inc., L3 Technologies, Inc., Lockheed Martin, Northrop Grumman Corporation, Raytheon, Rockwell Collins, Inc., Rohde & Schwarz Gmbh & Co. Kg, Thales, UTC Aerospace Systems, Viasat Inc.

Regional Segmentations:-

North America aircraft communication system market is expected to hold over 35% of the revenue share over the forecast timeframe. This can be credited to the presence of established aerospace industry leaders along with rising deployment of advanced communication systems in prominent aircrafts across the region. Rising defense expenditure of the developed countries including U.S. will further contribute towards region’s dominance.

Asia Pacific aircraft communication system market will grow rapidly, exhibiting a CAGR of over 6% over the coming years. Increasing aircraft deliveries has led to high demand for these systems, primarily supporting the regional growth.

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Transponders in the aircraft communication system market is expected to cross USD 640 million over the forecast time span. This revenue generation can be credited to provision of accurate information of the air fleets including barometric altitude and identification. Additionally, benefits such as maintaining communication with on-ground ATC units has resulted in wide usage in commercial and military planes.

Military aircrafts are predicted to hold highest industry volume share with more than 64,000 units by 2024. This can be attributed to rising installation of SATCOM and other enhanced technologies in these air fleets. Rising demand for fighter planes combined with multi-functional capabilities will uphold its dominance. Commercial aircrafts segment will pose a CAGR 3.5% due to enhancement in aviation sector across the globe. Increasing air passenger traffic is further supporting the aircraft communication system market from 2017 to 2024.

OEM segment is estimated to account for around 90% of the aircraft communication system market revenue share by 2024. This can be credited to installation for improving air traffic control, maintenance, and safety. Replacing components such as transmitters, transceivers, etc. is driving the aftermarket sector over the study period.

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