Aircraft Communication System Market 2019 By Companies - Raytheon, Thales, L3 Technologies, UTC Aerospace Systems, General Dynamics, Northrop Grumman, Harris Corporation, Lockheed Martin, Honeywell Aerospace
Asia Pacific is predicted to exhibit approximately 6% CAGR during the study period. Rising airplane deliveries has resulted in high product demand, supporting the regional growth.
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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.
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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
2. General Dynamics
3. Harris Corporation
4. Honeywell Aerospace
5. Iridium Communications Inc.
6. L3 Technologies, Inc.
7. Lockheed Martin
8. Northrop Grumman Corporation
10. Rockwell Collins, Inc.
11. Rohde & Schwarz Gmbh & Co. Kg
13. UTC Aerospace Systems
14. Viasat Inc.
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Increasing defense expenditure of multiple nations is one of the several factors positively affecting the overall business. For instance, in 2016, the U.S. defense budget surpassed USD 604 billion resulting in increased military aircraft production. High profit margin of the industry participants due to multiplying orders for military aircrafts and helicopters has led to increased incorporation of advanced products. However, network congestions, particularly for low frequency bands may provoke the industry growth over the projected time span.
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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Major aircraft communication system market players are Harris Corporation, Lockheed Martin, Raytheon, L3 Technologies, Cobham Plc, and Thales. Other notable players are Honeywell Aerospace, UTC Aerospace Systems, Viasat Inc., General Dynamics, and Northrop Grumman Corporation. Industry players are implementing merger and acquisitions strategy to strengthen their regional foothold.
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