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Aerospace Communication System Market Top Technology & Geographies | Major Industry Vendors – UTC Aerospace Systems, General Dynamics, L3 Technologies, Northrop Grumman, Raytheon, Rockwell Collins, Lockheed Martin, Thales, Harris Corporation, Honeywell

01-31-2019 11:55 AM CET | Media & Telecommunications

Press release from: Aerospace Industry

Aircraft Communication System Market

Aircraft Communication System Market

Aircraft communication system market has witnessed a remarkable expansion, over the recent years, synonymous to the burgeoning global aviation sector. As per the World Transport Statistics, the 2017 yearbook published by International Air Transport Association, airlines worldwide carried approximately 3.8 billion passengers in 2016 - representing an additional 242 million air trips and a humongous increase of 7% in the global air travel compared to 2015. Moreover, the rise in civil aviation has been complemented with surging military spending by numerous governments which has only added to the existing fleet of defense aircrafts.

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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.

Speaking of which, SATCOM, one of the pivotal products in aircraft communication system market, has proved itself to be rather crucial in air traffic management. Its increased deployment in military aircrafts is likely to upscale its demand, thereby stimulating aircraft communication system market size from SATCOM. Incidentally, this product segment is estimated to cross $480 million by 2024.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1.Cobham Plc
2. General Dynamics
3. Harris Corporation
4. Honeywell Aerospace
5. Iridium Communications Inc.
6. L3 Technologies, Inc.
7. Lockheed Martin
8. Northrop Grumman Corporation
9. Raytheon
10. Rockwell Collins, Inc.
11. Rohde & Schwarz Gmbh & Co. Kg
12. Thales
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.

With cutting edge innovations being brought forth rapidly in aircraft communication system market, it is rather overt that this business space would thrive commendably in the ensuing years. NASA has recently developed The Aircraft Access to System Wide Information Management that is capable of replacing the underground cables airport communication system with wireless communication. This is one of the instances of high-grade technological advancements prevalent in aircraft communication system industry. As per reliable estimates, aircraft communication system market size is anticipated to cross $1 billion by 2024.

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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.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Corporate Sales, USA
Global Market Insights, Inc.
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