NEW YORK, Jan. 10, 2017 /PRNewswire/ -- "Increase in demand for new aircraft is one of the most significant factor driving the growth of the air data systems market"
The air data systems market is projected to grow from USD 579.7 million in 2016 to USD 762.9 million by 2021, at a CAGR of 5.65% during the forecast period. This growth is mainly attributed to factors such as increase in demand for new aircraft and emergence of new technologies. However, the high cost of air data systems for medium and small UAVs is anticipated to restrain the growth of this market.
"The narrow body segment is estimated to have the largest market share"
By aircraft type, the narrow body segment of the air data systems market is estimated to account for the largest market size in 2016. Increase in demand for regional aircraft is one of the driving factors for narrow body aircraft, globally. According to Boeing's Outlook 2016, the global fleet size of narrow body aircraft is 14,870. Asia and North America have the largest fleet of narrow body aircraft, with 4,540 and 4,010 aircraft respectively. By the end of 2035, the global fleet size of narrow body aircraft is expected to reach 32,280. The number of narrow body aircraft deliveries from 2016 to 2035 is expected to be 28,140, of which Asia is expected to account for almost 39.65% of the total expected deliveries by 2035.
"The electronic unit segment is estimated to account for the largest share of the air data systems market"
Based on component, the electronic unit segment is estimated to account for the largest share of 89.8% of the air data systems market in 2016. The electronic unit is a computing electronic device responsible for the crucial job of providing accurate information.
"North America is estimated to account for the largest market share and is projected to grow at the highest CAGR during the forecast period"
Based on region, North America is estimated to account for the largest share of the air data systems market in 2016. Some of the major aircraft manufacturers, such as Boeing (U.S.), Bombardier (Canada), Lockheed Martin (U.S.), Bell Helicopter (U.S.), and Sikorsky Aircraft (U.S.) among others are based in this region, and they generate huge demand for air data systems. North America is also estimated to dominate ADS market during the forecast period, both in terms of market share and CAGR.
Break-up of profile of primary participants in the air data systems market:
- By Company Type - Tier 1 – 30%, Tier 2 – 35%, and Tier 3 – 35%
- By Designation – C Level – 32%, Director Level – 38%, and Others – 30%
- By Region – North America - 27%, Europe – 18%, Asia-Pacific – 46%, and RoW – 9%
Major companies profiled in the report include Honeywell International, Inc. (U.S.), United Technologies Corporation (U.S.), Rockwell Collins, Inc. (U.S.), Curtiss-Wright Corp. (U.S.), AMETEK, Inc. (U.S.), Astronautics Corporation of America (U.S.), Shadin Avionics (U.S.), Meggit Avionics (U.K.), Thommen Aircraft Equipment (Switzerland), and Aeroprobe Corp. (U.S.), among others.
This research report categorizes the air data systems market on the basis of aircraft type (narrow body, wide body, very large body, general aviation, regional transport, rotary wing aircraft, military transport, fighter jet, and UAV), component (electronic unit, sensors, and probes), and end user (civil and military). These segments and subsegments are further mapped across major regions, namely, North America, Europe, Asia-Pacific, and rest of the world.
Reasons to Buy This Report:
From an insight perspective, this research report has focused on various levels of analyses —industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the air data systems market, high-growth regions, and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on air data systems offered by top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the air data systems market
- Market Development: Comprehensive information about lucrative markets – the report analyzes the air data systems market across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the air data systems market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the air data systems market
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