According to a recently published report by Research Nester on “Global Aircraft Avionics Market Outlook: Industry Insights & Opportunity Assessment 2019–2027” delivers detailed overview of the global aircraft avionics market in terms of market segmentation by platform, by system, by aircraft type, by end user and by region.
Further, for the in-depth analysis, the report encompasses the
industry growth drivers, restraints, supply and demand risk, market attractiveness,
BPS analysis and Porter’s five force model.
With
increasing demand for aircrafts, there arises the need for technological
advancements in the navigation system to ease the work of the flight crew along
with efficient optimization of operations. Various developing economies are
stepping towards adoption of next-generation aircrafts which is estimated to boost the growth of the
global aircraft avionics market with a CAGR of 4.86% over the period 2019-2027.
The aircraft avionics market is segmented by platform,
aircraft type, system and end user. By platform, the commercial aviation
segment is anticipated to have significant growth on account of manufacturers
who are currently focusing on avionics components to develop products which are
more efficient, reliable and accurate. With continuous improvement in the
software technologies, the work has become more user-friendly and helped in the
automation of various in-flight tasks to reduce the workload of the flight
crew.
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The aircraft avionics market is segmented by platform, system,
aircraft type and end user. Based on platform, the market is segmented into
commercial, military, business jets and general aviation. On the basis of
system, the market is segmented into flight management system, communication
and navigation system, health monitoring, electrical & emergency and
software. On the basis of aircraft type, the market is segmented into fixed
wing and rotary wing. Further, based on end user, the market is segmented into
OEM and aftermarket.
Need for upgradation- With day-by-day advancement in the technologies, the demand
for upgradation of software also increases with the increase in demand of
aircrafts. Various developing economies are focusing to strengthen their armed
forces with the help of new technologies which is expected to boost the growth
of the aircraft avionics market.
North America is expected to grow at a high pace on the back
of increase in the number of deliveries of wide-body and narrow body aircrafts.
Further growing commercial applications and their utility in the defense sector
to carry out the surveillance and transportation activities in the region.
Europe is expected to grow owing to the increasing commercial applications of
the aircraft avionics. Asia Pacific is expected to grow attributing to its increased
demand in the defense sector to strengthen the position of the armed forces and
up-gradation of the existing technology.
Every economy functions differently and has different economic
conditions which affects the cost of all the operations or steps to be carried
out to cater to the budding needs of the market which leads to delay in supply
chains, thereby proving as a hindrance for the growth of the aircraft avionics
market.
This report also provides the existing competitive scenario of
some of the key players of the global aircraft
avionics market which includes company profiling of Honeywell, Esterline
Technologies, Curtiss-Wright, L3Communicatons, UTC (Collins Aerospace), United
Technologies Corporation, Thales Group, Cobham PLC, Meggitt PLC and Safran.
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The profiling enfolds key information of the companies which
encompasses business overview, products and services, key financials and recent
news and developments. On the whole, the report depicts detailed overview of
the global aircraft avionics market that
will help industry consultants, equipment manufacturers, existing players
searching for expansion opportunities, new players searching possibilities and
other stakeholders to align their market centric strategies according to the
ongoing and expected trends in the future.
About Research Nester
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leading in strategic market research and consulting with an unbiased and
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and executives for their future investment while avoiding forthcoming uncertainties.
With an out-of-the-box mindset to produce statistical and analytical market
research reports, we provide strategic consulting so that our clients can make
wise business decisions with clarity while strategizing and planning for their
forthcoming needs and succeed in achieving their future endeavors. We believe
every business can expand to its new horizon, provided a right guidance at a
right time is available through strategic minds.
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