Press release
Commercial Avionics Systems Market Generating Revenue of $26 Billion by 2022 | CAGR 7.1%
Commercial Avionics Systems
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The commercial avionics systems market was valued at $16 billion in 2014 and is projected to reach $26 billion by 2022, growing at a CAGR of 7.1% from 2016 to 2022. A surge in the number of aircraft deliveries, increasing demand for real-time data, economic growth in emerging countries, and increasing demand for in-flight entertainment (IFE) services are expected to drive the growth of the global commercial avionics systems market. However, factors such as vulnerability to cyber attacks and high costs involved are expected to hamper the market growth during the forecast period. The growth of low-cost carriers in emerging economies is expected to provide lucrative opportunities for the commercial avionics systems market growth.
In 2015, the communication, navigation, & surveillance (NYSE:CNS) sub-system accounted for the maximum revenue share among the sub-system types in the commercial avionics systems market. This is due to the increasing demand for real-time data in the aviation industry. In addition, the health monitoring systems are expected to witness the fastest growth over the forecast period. Among the types of aircraft, the wide-body aircraft dominated the global commercial avionics systems market in 2015. However, the narrow-body aircraft are expected to grow at the fastest pace over the forecast period.
The Asia-Pacific commercial avionics systems market is estimated to grow at the highest rate due to increasing requirements of aircraft from the aviation industry and increased government initiatives.
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Driving factors for the market
1. Surge in number of aircraft deliveries
2. Increasing demand for real-time data
3. Economic growth in emerging economies
4. Increasing demand for in-flight entertainment (IFE) services
Market Restraints and Opportunities:
1. Vulnerability to cyber attacks
2. High costs involved
3. Growth of low cost carriers (LCC) in emerging economies
4. Increasing investments in NextGen avionics
5. Improvement in commercial aviation network
6. Government initiatives
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Key Market Players Profiled
* United Technologies Corporation
* Thales Group
* GE Aviation
* Garmin Ltd.
* Rockwell Collins
* Honeywell International Inc.
* L-3 Communications Holdings, Inc.
* Panasonic Avionics Corporation
* Universal Avionics Systems Corporation
* Teledyne Technologies, Inc.
Other Companies Mentioned in the Report
* Airbus Group SE
* The Boeing Company
* Dassault Aviation
* United Aircraft Corporation
* Aviage Systems
* Aviation Industry Corporation of China
* General Electric Company
* BAE Systems Australia
* Tigerair Australia
* Mauritania Airlines
* Avianca, Columbia
* VARIG, Brazil
* Emirates
* Etihad Airways
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https://www.alliedmarketresearch.com/commercial-satellite-imaging-market
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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