Aircraft Interface Device Market Size Worth USD 492.9 Million in 2032 | Emergen Research

The global aircraft interface device market size was USD 197.3 Million in 2022 and is expected to register a revenue CAGR of 9.6% during the forecast period, according to latest analysis by Emergen Research. Growing number of aircraft-related accidents is a major factor driving the aircraft interface device market revenue growth. For instance, as per a safety report published by International Air Transport Association in 2022, there were five incidents resulting in the loss of life for passengers and crew. The fatal accident rate for 2022 showed improvement, standing at 0.16 incidents per million sectors, compared to 0.27 incidents per million sectors in 2021. The overall accident rate, including both fatal and non-fatal accidents, was 1.21 incidents per million sectors. Although this represents a reduction compared to the five-year rate of 1.26 incidents (2018-2022), it did show a slight increase compared to the rate of 1.13 incidents per million sectors in 2021.

The latest research report is dubbed as the first document encompassing the latest information about the Aircraft Interface Device market that has been gravely affected by the COVID-19 pandemic. The global health crisis poses significant threats to the future growth of the Aircraft Interface Device industry. The report assesses the profound changes in this business setting caused by the outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic. The report thus expounds on the rapidly changing market scenario in this COVID-19 era, which aims to help businesses involved in this sector overcome the pandemic's gripping effects and formulate new growth strategies to boost the COVID-19 preparedness.

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Key Market Competitors Profiled in the Report:

Collins Aerospace, Astronics Corporation, Honeywell International Inc., Elbit Systems Ltd., Thales, Avionics Interface Technologies, Teledyne Controls LLC., The Boeing Company, Viasat, Inc., Anuvu.

Some Key Highlights From the Report

• The rotary wing type segment is expected to account for a significantly large revenue share over the forecast period. Factors such as reduced cockpit space, performance in diverse environments, and versatile mounting options are driving revenue growth of this segment. In comparison to fixed-wing aircraft, rotary-wing aircraft have smaller cockpit spaces. However, compact and lightweight Aircraft Interface Devices (AIDs) are specifically designed to accommodate these limitations effectively. AIDs can be mounted in various locations within the cockpit, including instrument panels, control consoles, or armrests, providing flexibility for optimal positioning based on pilot's preferences and cockpit layout.

• The wireless segment is expected to account for largest revenue share with highest revenue CAGR during the forecast period. Factors such as increased flexibility and mobility, enhanced connectivity, and scalability, along with improved maintenance efficiency features are driving revenue growth of this segment. Wireless Aircraft Interface Devices (AIDs) offer increased flexibility and mobility in comparison to wired alternatives. They eliminate the requirement for physical connections, enabling effortless installation and removal without limitations of cables. This flexibility allows for improved cockpit configurations, repositioning of equipment, and more efficient aircraft maintenance activities.

• The commercial aircraft segment is expected to register highest revenue growth rate over the forecast period. Factors such as rising demand for new-generation aircraft equipped with smart features and increasing need for real-time system monitoring and diagnostics are driving revenue growth of this segment. The commercial aircraft industry is witnessing benefits of aircraft interface devices, which are advantageous for both airlines and Maintenance, Repair, and Overhaul (MRO) stations.

• The North America market accounted for a significantly large revenue share in 2022. Factors such as increasing volume of air traffic, rise in several aircraft accidents, growing demand for safety regulations within the aviation industry, and rising number of Urban Air Mobility (UAM) platforms, indicate a growing presence and adoption of these transportation systems in urban areas are driving revenue growth in this region.

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Aircraft Interface Device Market Segmentation

Emergen Research has segmented the global aircraft interface device market on the basis of wing type, connectivity type, fit type, end-use, distribution channel, and region:

• Wing Type Outlook (Revenue, USD Million; 2019-2032)
o Fixed wing
o Rotary wing

• Connectivity Type Outlook (Revenue, USD Million; 2019-2032)
o Wired
o Wireless

• Fit Type Outlook (Revenue, USD Million; 2019-2032)
o Line fit
o Retro fit

• End-Use Outlook (Revenue, USD Million; 2019-2032)
o Commercial aircraft
o Business jets
o Military aircraft
o Others

• Distribution Channel Outlook (Revenue, USD Million; 2019-2032)
o OEMs
o Aftermarket

Regional Analysis of the Aircraft Interface Device Market:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Objectives of the Report:
• Analysis and estimation of the Aircraft Interface Device market size and share for the projected period of 2019-2032
• Extensive analysis of the key players of the market by SWOT analysis and Porter's Five Forces analysis to impart a clear understanding of the competitive landscape
• Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Aircraft Interface Device market
• Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
• Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

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This release was published on openPR.