NEW YORK, March 30, 2016 /PRNewswire/ -- Implementation of avionics systems for next-generation aircraft is driving the growth of the commercial avionics systems market
The commercial avionics systems market is expected to grow from USD 16.73 billion in 2015 to USD 22.49 billion by 2020, at a CAGR of 6.10% from 2015 to 2020. The market for commercial avionics systems is driven by factors, such as increase in aircraft orders and deliveries, growth in developing economies, and implementation of avionics systems for next-generation aircraft.
The narrow body aircraft market is anticipated to grow at a high CAGR during the forecast period
Based on aircraft type, the commercial avionics market is segmented into very large aircraft, wide body aircraft, narrow body aircraft, and regional transport aircraft. The narrow body aircraft market is expected to account for the largest market share during the forecast period.
North America dominates the commercial avionics systems market; this market in the Asia-Pacific region is projected to grow at the highest CAGR from 2015 to 2020
In 2015, North America is estimated to account for the largest share of the commercial avionics systems market. However, the Asia-Pacific region is expected to witness the highest growth rate in the commercial avionics systems market in the coming years. This is mainly attributed to the growth of the aviation sector in the Asia-Pacific region, thereby propelling the demand of commercial avionics systems.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key industry personnels. The break-up of profiles of participants is listed below:
- By Company Type: Tier-1 (55%), Tier-2 (20%), and Tier-3 (25%) companies
- By Designation: C-level (75%), and Manager Level (25%)
- By Region: North America (10%), Europe (20%), Asia-Pacific (40%), and Rest of the World (30%)
Major players operating in the commercial avionics systems market include Honeywell International Inc. (U.S.), Thales Group (France), Rockwell Collins (U.S.), United Technologies Corporation (U.S.), and GE Aviation (U.S.), among others.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends, and Porter's Five Forces Analysis), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the commercial avionics systems market; high-growth regions and countries and their respective regulatory policies; government initiatives; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information offered by the top 10 players in the commercial avionics systems market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the commercial avionics systems market
- Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for commercial avionics systems across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the commercial avionics systems market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the commercial avionics systems market
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