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Aerospace Avionics Market Revenue is Excepted to Dominate by Flight & Control Management System Segment by 2024

Author : Ronak Bora | Published Date : 2019-04-10 

The Aerospace Avionics Market report add detailed competitive landscape of the global market. It includes company, market share analysis, product portfolio of the major industry participants. The report provides detailed segmentation of the industry based on product segment, technology, end user segment and region.

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By subsystem, aerospace avionics market share is segmented into communication, navigation & surveillance, flight & control management, inflight entertainment, mission/tactical, monitoring/glass cockpit, and electrical & emergency systems. Flight & control management system is expected to dominate the revenue share till 2024 owing to high demand for information sharing of real time flight planning. Extensive usage of avionics in flight management will further support the industry dominance.

Aerospace avionics market is segmented based on platform into commercial, UAVs, and defense. Defense platform is anticipated to exhibit highest aerospace avionics market share over the next eight years owing to rising deployment of avionics in military aircrafts. Increasing expenditure on defense sector across the globe will further strengthen the product penetration. UAV will grow considerably owing to technological advancements and rising demand from commercial applications.

Regular modernizations in aerospace sector is another factor positively impacting the industry demand over the next eight years. The modernizations include innovative avionics that are majorly used in next generation transportation system launched by Single European Sky ATM Research (SESAR), Europe and Federal Aviation Administration (FAA), U.S. Introduction of new participants across the industry and high requirement of real time data will further strengthen the product penetration.

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Emergence of Automatic Dependent Surveillance (ADS-B) and Enhanced Vision Systems have resulted in increased demand for avionics across the globe. Installation of these systems are becoming mandatory in regions including North America and Europe, opening opportunistic ways for the industry participants over the forecast timeframe.

North America aerospace avionics market will exhibit maximum revenue share till 2024. Substantial investments from component manufacturers and OEMs in R&D for development of advanced products will primarily drive the region’s growth.

Moreover, presence of major aerospace industry leaders across the region will support the regional dominance. Asia Pacific will witness substantial growth owing to rising investments in military & defense sector coupled with growth in overall aerospace industry in the region.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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