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Data Bus Market Size Worth $25,258.0 Million By 2028 | CAGR 4.6%: The Insight Partners

05-25-2022 02:13 PM CET | IT, New Media & Software

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
The Insight Partners

The Insight Partners

According to the new research report published by The Insight Partners, titled "Data Bus Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Protocol, and Application," the market is expected to grow from US$ 18,488.9 million in 2021 to US$ 25,258.0 million by 2028; it is estimated to grow at a CAGR of 4.6% during 2021-2028.

Based on component, the data bus market is segmented into hardware and software. In 2020, the hardware segment led the market with a larger share. A data bus is a mechanism that transports data within a computer or device and consists of a connector or a set of wires. Along with personal computers and other pieces of hardware, various types of data buses have evolved. A data bus can carry data to and from a computer's memory, as well as in and out of the device's engine - the central processor unit (CPU). A data bus can also be used to transport data between computers. Data Buses are critical instruments for facilitating all data transfers that enable so much on-demand data transmission. Thus, increased use of electronic components in automotive, vessels, and aircraft is driving the data bus market.

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According to the Electronic Components Industry Association (ECIA), the emergence of COVID-19 has highlighted delays in product releases, disruption in supply chain events, and other industrial activities. Several manufacturers have temporarily halted the manufacturing units, owing to lesser demand for the products as a result of lockdown measures and limited manufacturing resources. Additionally, the manufacturers of various electronic and semiconductor products, including data cables, have been experiencing a substantial delay in lead times, which has weakened the supply chain. This has had a negative impact on the Data Bus Market.

During the pandemic, the entire data bus market came to a halt with minimal resources to foresee the future. Several production units in the US, France, Russia, and China were temporarily halted to adhere to the government rules regarding lockdown and physical distancing. The aircraft manufacturers witnessed a 14-15% general aviation market revenue reduction. This resulted in the decline of Data Bus Market revenue.

The demand for new military aircraft is increasing as countries attempt to update their fleets and expand their capabilities, especially in Asia-Pacific, which is driving the data bus market. The Australian Army received the first two of four new Boeing CH-47F Chinook transport helicopters in July 2021. The P-8As are land-based antisubmarine and anti-surface ship planes built for intelligence, surveillance, and reconnaissance missions. Further, the Indian government authorized the proposal for procuring 56 C295 transport aircraft from Airbus Defence and Space, Spain, in September 2021. Airbus Defence and Space, Spain, has been awarded a contract to acquire the C 295MW cargo aircraft. China has added numerous new military aircraft to its inventory in the last five years. As a result of these purchases, the demand for data bus is increasing in Asia Pacific.

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Ongoing Modernization in Military Aviation
Increasing military spending in emerging economies is driving investments in modernizing existing equipment in aging aircraft. Due to technical problems with various constructions, and issues with propulsion, connection, and other systems, there is a growing demand for technologically superior military aircraft to replace conventional military aircraft. To address the continuously rising number of threats and completely new mission requirements. Fully connected airlines, on the ground and in the air, may use real-time data to improve flight deck operations, reduce future timelines, and enhance customer experience. Thus, many aircraft manufacturers have upgraded their aircraft to include network capabilities that provide in-flight connectivity, which has propelled the demand for data bus. The expansion of the aerospace & military sector is further likely to boost the global market growth in the coming years. The adoption of FlexRay protocols and organic and inorganic growth tactics in military aviation is expected to boost the growth of the global data bus market. The expansion of the global data bus market is further driven by commercial and military aircraft. The need for integration of full-duplex switching ethernet, monitoring systems, cockpit systems, flight control, navigation systems, air data systems, communications systems, and central maintenance systems into single modular avionics systems is also driving the Data Bus Market.

Data Bus Market: Competitive Landscape and Key Developments
Astronics Corporation; Collins Aerospace; Fujikura Ltd.; HUBER+SUHNER; Nexans; TE Connectivity Corporation; Amphenol Ltd.; Data Device Corporation; Data Bus Corporation; and OCC are among the key players in the global Data Bus market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In 2021, Astronics Corporation announced the launch of new protocol models for its Ballard ME1000 family of mPCIe avionics interface cards for embedded aerospace applications. The new models provide interfacing capability for ARINC 429 and ARINC 717 databus protocols, and join models for MIL-STD-1553 that were previously released.

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If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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