Published By : 02 Dec 2016 | Published By : QYRESEARCH
The competition in the global commercial avionics systems market is expected to gain momentum in the near future owing to the ongoing research and development projects and the rising investments by leading companies. Initiatives such as the Single European Sky ATM Research and NextGen Avionics in the U.S. are expected to pave way for opportunities for companies operating in the global commercial avionics systems market. To gain a sustainable position in the market, the companies are entering into strategic mergers and acquisitions. For instance, on December 2013, Rockwell Collins Inc. acquired ARINC and encompassed a large fleet of ground based aircraft systems. The leading players in the global commercial avionics market are Honeywell Aerospace, Rockwell Collins Inc., Thales Avionics, Garmin Ltd., Avidyne Corporation, Panasonic Corporation, L-3 Avionics Sytems, GE Aviation, and Universal Corporation.
Navigation Systems to Gain Prominence Worldwide
On the basis of systems, the global commercial avionics systems market was dominated by navigation systems in 2014 with a valuation of US$3,541.0 mn in terms of consumption due to the initiatives taken up by organizations and government bodies to upgrade the existing technologies in ground and air stations. Owing to the high deployment of Multi-Mode Receivers, Flight Management Systems, and GPS, the demand for navigation systems is anticipated to intensify. The growth of the flight control and emergency systems segment can be credited to the budding concerns regarding risk minimization and safety of flights, and clustering of warning lights, displays, and alarms in a single panel.
Real Time Data Needs to Fuel Adoption
The need to mend in-flight systems through quick information access is anticipated to lift the significance of real time data. The aviation industry across all segments is being currently driven by the emphasis on improving troubleshooting of the components of an aircraft, observing aircraft maintenance, and enhancing the data acquisition technology. Besides, evolution of glass cockpits and growing demand for in-flight entertainment services is further likely to boost the market growth.
The global commercial avionics systems market is projected to register a CAGR of 3.1% from 2015 to 2021. In 2015, the global commercial avionics systems market stood at US$24,336.0 mn and is estimated to touch a valuation of US$29,275.2 mn by the end of 2021.