Commercial Avionics Systems Market Worth 22.49 Billion USD by 2020
PUNE, India, February 19, 2016 /PRNewswire/ --
The report "Commercial Avionics Systems Market by Sub-System (FMS, FCS, CNS, HMS, and Electrical & Emergency Systems), Platform (Fixed Wing and Rotary Wing), Fit (Forward and Retro) and Geography - Global Forecast to 2020", published by MarketsandMarkets, the market is projected to reach USD 22.49 Billion by 2020, at a CAGR of 6.10% from 2015 to 2020.
Browse 88 market data Tables and 74 Figures spread through 163 Pages and in-depth TOC on "Commercial Avionics Systems Market"
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This market is segmented on the basis of sub-system, platform, fit, and region.
The narrow body aircraft segment is expected to account for a major share in the commercial avionics systems market, among all fixed-wing aircraft platforms
Based on platform, the commercial avionics systems market is segmented into fixed-wing aircraft and rotary-wing aircraft. The fixed-wing aircraft segment is further segmented into very large aircraft, narrow body aircraft, wide body aircraft, and regional transport aircraft. The narrow body aircraft segment is anticipated to grow at a high CAGR during the forecast period. The Asia-Pacific region accounts for a majority of narrow body aircraft deliveries, followed by Europe and North America. This growth is mainly attributed to the increase in aircraft deliveries, owing to the presence of low-cost carriers and rise in passenger traffic, especially in China.
The flight control system is anticipated to grow at the highest CAGR during the forecast period
Based on sub-system, the Commercial Avionics Market is segmented into flight control systems, communication, navigation & surveillance systems, electrical & emergency systems, health monitoring systems, and flight management systems. The flight control systems segment holds the largest share of the commercial avionics systems market in 2015. The flight control system market has been broadly classified into secondary flight control systems and primary flight control systems.
The commercial avionics systems market in the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period
On the basis of region, the market is divided into North America, Europe, Asia-Pacific, and the rest of the world (RoW). Regions such as the Middle East, Latin America, and Africa are covered under RoW. In 2015, North America is estimated to account for the largest share of the commercial avionics systems market. However, this market in the Asia-Pacific region is projected to grow at the highest CAGR from 2015 to 2020. This growth is mainly attributed to advancements made in the field of avionics systems that offers efficient fuel usage and reduces airspace congestion.
Honeywell International Inc. (U.S.): The top player in the commercial avionics systems market
A strong focus on innovation is observed in the commercial avionics systems market. The rich pipeline of innovative products in the commercial avionics systems market offers a wide array of growth opportunities. Players are particularly focused on developing devices that are compact and efficient.
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Major players operating in the commercial avionics systems market are Honeywell International Inc. (U.S.), Thales Group (France), Rockwell Collins (U.S.), United Technologies Corporation (U.S.), and GE Aviation (U.S.).
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