Data Bus Market is anticipated to Record a CAGR of 4.6% to Reach a Valuation of US$ 25,258.0 Million by Forecast 2021-2028

According to our latest market study on "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.

The report includes a SWOT analysis of leading companies form global Data Bus Market. It also encloses and studies the most recent market developments that are likely to affect the industry. Moreover, the products & services offered by these companies are documented as well. Leading companies contributing to Data Bus Market valuation are Astronics Corporation; Collins Aerospace; Fujikura; HUBER+SUHNER; Nexans; TE Connectivity Corporation; Amphenol; Data Device Corporation; Data Bus Corporation; and OCC.

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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.

The pandemic severely affected the airline industry in North America, with increasing net losses and delays in recovery. North America's aircraft industry was one of the strongest performers in the pre-crisis period. The region is expecting market recovery from the economic disruption. Recovery in demand for business jets, private leisure aircraft, and helicopters for different applications is anticipated to boost manufacturing and sales of commercial aviation in the region, thereby significantly impacting the market growth.

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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.

Impact of COVID-19 Pandemic on North America Data Bus Market
The US has witnessed the most severe impact of COVID-19 in North America in 2020.The data bus market players and service providers in North America were affected due to nationwide lockdowns and travel restrictions, shutdown of production facilities, and shortage of employees. The massive outbreak of the virus has created both a health crisis and an economic crisis in the US. It has led to major disruptions in the aerospace industry, impacting everything, from supply chain and manufacturing to product sales. The pandemic has directly and indirectly impacted the market's short-term and long-term growth.

Chapter Details of Data Bus Market:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Data Bus Market Landscape
Part 04: Data Bus Market Sizing
Part 05: Data Bus Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis

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