Sellbyville, DE -- (SBWIRE) -- 01/29/2019 -- Aircraft Communication System Market is estimated to exhibit over 6% CAGR with USD 1.3 billion by 2024. SATCOM will dominate the aircraft communication system market, capturing over 35% of the volume share over the next eight years owing to provision of benefits such as efficiency in air traffic management and superior communication. Moreover, its extensive usage in military aircrafts will strengthen the product penetration due to their increasing orders. This high demand of military aircrafts due to rising defense budgets across the globe will further support the aircraft communication system market growth.

HF communication systems will exhibit at over 7.5% CAGR from 2017 to 2024 owing to regular innovations in the product coupled with provision of efficient communication over long distance routes.

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A single system based on IP technology, SANDRA is capable of transmitting data through multiple data links. It can also transmit data to the ground via digital and high-speed satellite, providing communication to the aircrafts in a seamless manner. Indeed, the system has increased aircraft safety owing to the reliable and quick communication between the aircraft and control tower. In consequence, this seems to have encouraged aircraft communication system industry players to advance their capabilities and bring about highly innovative products.

Digital communication systems have been making rapid inroads in this fraternity. These systems provide aircrafts with very effective communication over long distance oceanic and trans-polar routes and are being massively adopted by the aviation space. Driven by their extensive benefits, companies have also been attempting to develop advanced HF communication systems. Aided by high-grade technological developments, high frequency aircraft communication system industry share has been forecast to witness a CAGR of 7.5% over 2017-2024.

One of chief drivers for the aircraft communication system market is the exponential growth of the commercial aircraft industry. Considering an instance of Airbus, one of the pioneers of the aerospace industry, the firm has set its goal of tripling its revenues within the next seven years to enable its commercial aircraft business reach $10 billion. It also plans to target measures worth $555 million in 2018 to improve productivity. With such large investments in place, it is predictable that aircraft communication system market will witness a substantial boost from the commercial aircraft segment. Estimates suggests that aircraft communication system industry size from commercial aircraft applications will witness a CAGR of 3.5% over 2017-2024.

North America aircraft communication system market is expected to hold over 35% of the revenue share over the forecast timeframe. This can be credited to the presence of established aerospace industry leaders along with rising deployment of advanced communication systems in prominent aircrafts across the region. Rising defense expenditure of the developed countries including U.S. will further contribute towards region's dominance.

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Asia Pacific aircraft communication system market will grow rapidly, exhibiting a CAGR of over 6% over the coming years. Increasing aircraft deliveries has led to high demand for these systems, primarily supporting the regional growth.

L3 Technologies, Harris Corporation, Thales, Cobham Plc, Lockheed Martin, and Raytheon are among the noticeable players. Other prominent participants in aircraft communication system market include Viasat Inc., General Dynamics, Honeywell Aerospace, Northrop Grumman Corporation, and UTC Aerospace Systems.

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