2024, Aircraft Communication System Market | Vendors – UTC Aerospace Systems, General Dynamics, L3 Technologies, Northrop Grumman, Raytheon, Rockwell Collins, Lockheed Martin, Thales, Harris Corporation, Honeywell Aerospace

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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A rather crucial component of the air traffic management, SATCOM has emerged as the most popular product of the aircraft communication system industry in the recent past. As the global air traffic is expected to increase at an unprecedented pace every year, prominent airlines across the world would undoubtedly be upgrading their SATCOM systems to enhance passenger experience and upgrade operational efficiency. Furthermore, SATCOM is being deployed extensively in military aircrafts - a factor that has further boosted the growth prospects of aircraft communication system market.

The firm further aims to target measures worth USD 555 million to enhance productivity in 2018. With such massive investments being poured in by chief market players, it is quite undeniable that aircraft communication system industry would witness drastic transformation over the estimated time frame. All in all, the aircraft communication market is overt to stand as a major beneficiary of the next-gen technology incorporation in modern airplanes. In terms of remuneration portfolio, the fraternity is slated to surpass the billion-dollar benchmark 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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In a bid to improve satellite communication technology, a major aircraft communication system market participant Inmarsat has recently inked a contract with European Space Agency. The firm is aiming to launch an integrated satellite and 4G network, named as European Aviation Network, to offer more viable in-flight connectivity to Europe's airlines and a 4D trajectory air traffic management SATCOM service. The deal is in line with the Single European Skies ATM Research plan that aims to build an advanced aerospace management system to transform European aviation sector. Needless to mention, such bold initiatives would propel the growth potential of the overall aircraft communication system industry in the forthcoming years.

Apart from rapid technological advancements in product development, one of pivotal factors to have contributed toward the exponential growth of aircraft communication system market is the swiftly expanding commercial aircraft space. One of the forerunners of the aerospace industry, Airbus for instance has set an ambitious target of tripling its services revenue from its commercial aircraft business to USD 10 billion within the ensuing seven.

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Cobham Plc, Harris Corporation, UTC Aerospace Systems, Lockheed Martin, Iridium Communications Inc., L3 Technologies, and Raytheon are among the prominent participants in the aircraft communication system market. Other noticeable participants include General Dynamics, Thales, Northrop Grumman Corporation, Viasat Inc., and Honeywell Aerospace.

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