The chief author of TMR’s report says, “Initiatives to develop lead-free electronics for commercial airlines will be the next big move of commercial avionics systems supplier to rise above the competition in the market.” Companies will also focus on strategic partnerships and lucrative joint ventures to increase their reach in uncharted markets adding to their knowledge resources.
Albany, NY -- (SBWIRE) -- 11/23/2016 -- Importance of Real Time Data Stimulates Demand for Commercial Avionics Systems
The growing focus of airline companies to make their operations efficient, safe, and reliant has created substantial demand for real time data gathering in the aviation industry. The growing need to collect data to improve problem-solving capabilities and monitoring aircraft maintenance are expected to propel the adoption of commercial avionics systems market. This market is also being driven by in-flight entertainment options being offered by the aviation industry to customers as a value-added service. This service allows users to connect their gadgets to the in-flight intranet to stream a set amount of multimedia content.
These strong market drivers are expected to create an opportunity worth US$29.27 bn by 2021 for the global commercial avionics systems market. The market stood at US$23.40 bn in 2014 and is expected to rise at a CAGR of 3.1% between 2015 and 2021.
The rising use of glass cockpits is also expected to create several growth opportunities for this market. These cockpits allow pilots to focus on relevant information and thus enable ease of operation. The near future will also witness the incorporation of advanced communication systems, GPS receivers, and touch screens, which is expected to have a positive impact on the adoption of commercial avionics systems.
North America Leads Global Market Thanks to High Acceptance of Modern Technology and Improving Economy
North America held a leading share of 42.5% in the global market in 2014 and is expected to maintain this stance all through 2021 as it will win an estimated share of 41.9%. The rise of the commercial avionics systems market in North America will be influenced by the ongoing technological developments and the improving economic conditions in the U.S.
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The initiation of programs such as NextGen Avionics by The Federal Aviation Administration (F.A.A) in the U.S. is also expected to boost this market in the forecast period. Acceptance of modern technology, demand for entertainment during flights, and encouragement towards effective surveillance is also anticipated to support this market. The sprawling network of airlines will also propel the North America commercial avionics systems market in the coming few years.
Navigation Segment Remains a Critical Component in the Aviation Industry
The navigation segment is the most competitive segment in the overall commercial avionics systems market as navigation components form an integral part of the aviation industry. Upgrading the existing technologies in both air and ground stations is expected to be the prime growth driver for this segment.
Research indicates that Global Navigation Satellite Systems (GNSS) will gradually replace ground navigation aids, which will create a positive impact on the retrofit market. The increasing usage of GPS, Flight Management Systems (FMS), and Multi-Mode Receivers (MMR) will also boost the demand for sophisticated navigation systems.
Some of the leading players operating in the global commercial avionics systems market are Universal Avionics System Corporation, Rockwell Collins, Inc., Honeywell Aerospace, Panasonic Avionics Corporation, Thales Avionics, Garmin Ltd., GE Aviation, L-3 Avionics Systems, United Technologies Corporation, and Avidyne Corporation. Companies are focusing on improving the navigational expertise of their systems to allow airlines to function without any delays even in demanding weather.