Aircraft Communication System Market 2018 By Top Industry Manufacturers - UTC Aerospace Systems, Honeywell Aerospace, General Dynamics, Northrop Grumman, Harris Corporation, Lockheed Martin, Raytheon, Thales, L3 Technologies
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Digital communication systems have been making rapid inroads in this fraternity. These systems provide aircrafts with very effective communication over long distance oceanic and trans-polar routes and are being massively adopted by the aviation space. Driven by their extensive benefits, companies have also been attempting to develop advanced HF communication systems. Aided by high-grade technological developments, high frequency aircraft communication system industry share has been forecast to witness a CAGR of 7.5% over 2017-2024.
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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One of chief drivers for the aircraft communication system market is the exponential growth of the commercial aircraft industry. Considering an instance of Airbus, one of the pioneers of the aerospace industry, the firm has set its goal of tripling its revenues within the next seven years to enable its commercial aircraft business reach $10 billion. It also plans to target measures worth $555 million in 2018 to improve productivity. With such large investments in place, it is predictable that aircraft communication system market will witness a substantial boost from the commercial aircraft segment. Estimates suggests that aircraft communication system industry size from commercial aircraft applications will witness a CAGR of 3.5% over 2017-2024.
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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L3 Technologies, Harris Corporation, Thales, Cobham Plc, Lockheed Martin, and Raytheon are among the noticeable players. Other prominent participants in aircraft communication system market include Viasat Inc., General Dynamics, Honeywell Aerospace, Northrop Grumman Corporation, and UTC Aerospace Systems. Industry participants are adopting mergers and acquisitions as their prominent strategy to strengthen their foothold. For instance, in May 2014, Cobham completed the acquisition of a manufacturer of communication systems, Aeroflex to expand its product portfolio and enhance its visibility.
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