ALBANY, New York, March 30, 2020 /PRNewswire/ -- Transparency Market Research has recently published a new research report that talks about the working dynamics and the growth prospects of the global remote electronic unit market. The research report sheds light on the key driving factors, prominent segments, notable growth inhibitors, and geographical and competitive landscape of the global remote electronic unit market.
According to the research report, the global market for remote electronic unit is projected to grow at a moderate CAGR of ~4% over the course of the given forecast period of 2019 to 2027. The valuation of the market was nearly US$2.7 Bn in 2019. Given the rate of growth, the valuation of the global market is expected to reach around US$3.5 Bn by the end of 2027.
Global Remote Electronic Unit Market – Key Takeaways
Based on platform, the segment of aircraft remains the most dominant one in the global market.
Rapidly expanding aviation industry and increasing deliveries of aircrafts across the globe are some of the key reasons behind the growth of the segment, which is expected to reach a valuation worth US$2.8 Bn by 2027 end.
The segment of spacecraft is expected to witness a sluggish growth and only accounts one fifth of the entire market revenue.
The segment is projected to witness a CAGR of ~3% over the course of the given period of forecast.
In the near future both the end use segments i.e. commercial and governmental are projected to witness promising growth opportunities.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Remote Electronic Unit (REU) Market by Platform: Spacecraft and Aircraft (Large Commercial, Business Jets, and Military); Application: Flight Control Surface, Landing Gear, Fuel Systems, Ice Protection Systems, and Others; Sales Channel: OEMs and Aftermarket; and End Use: Government and Commercial at https://www.transparencymarketresearch.com/remote-electronic-unit-market.html
Global Remote Electronic Unit Market – Key Driving Factors
In recent years, there has been a tremendous growth in the global passenger aircraft traffic, which ultimately has helped in the development of the aircraft segment of the remote electronic unit market.
Increasing demand for light weight flight control systems and fuel-efficient aircrafts have also helped in driving the growth of the global market.
With advancements in the aviation tech across the globe, there are several lucrative growth opportunities for the applications of remote electronic units. This too has helped in the development of the market.
An emerging trend in the market is to improve the stability and handling capacities with the help of fly by wire systems.
Global Remote Electronic Unit Market – Key Growth Inhibitors
Several national aviation regulators have put down different mandates and directives for aircraft sustainability as per their requirements. This has created a lack of universal standard for these systems.
Strict restrictions about airworthiness and delay in periodic licenses, approvals, and certifications are some of the other key factors that are inhibiting the growth of the global remote electronic unit market.
Global Remote Electronic Unit Market – Geographical Outlook
North America is the most dominant regional segment of the global remote electronic unit market and accounted of around 40% of the overall market share in 2018.
The regional segment is expected to reach valuation worth US$1.4 Bn by the end of 2027.
Asia Pacific is expected to show a CAGR of ~4% for the given period of forecast.
Analyze Remote Electronic Unit Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a Sample of the Study
Global Remote Electronic Unit Market – Key Players
Key players operating in the global remote electronic unit market are BAE Systems plc, Thales Group, Parker-Hannifin Corporation, Safran S.A., Moog Inc., Curtiss-Wright Corporation, Collins Aerospace, Collins Aerospace, Becker Avionics GmbH, and CRISA.
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