Global Commercial Avionics Systems Market: Overview
Avionics system is electronic equipment that is used in aircraft for smooth operational functioning. The tremendous growth in the air travel for business and changing the perception of people for more leisure air travel generate the need for commercial avionics systems in the aviation industry. In-flight entertainment (IFE) has been introduced for increasing expectation of the air passengers for more improved facilities, services, and solutions.
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Global Commercial Avionics Systems Market: Growth Factors
Cutthroat competition among key players is anticipated to boost the global commercial avionics systems market growth. Whereas, improving the economy and easy air travel have generated a high buzz for the major companies in the global market, which is anticipated to ramp up development rates to meet the demand. The global commercial avionics systems market is expected to show fast growth in the near future owing to its increment in the competitive index. In addition, entry cost for market players is comparatively low and hence it has made the market more attractive one for new entrants. Technological advancement is the major factor for the global commercial avionics systems market. Many improvements in the past such as massive room and glass cockpit for the enhanced in-flight entertainment are some factors driving the global market growth. Moreover, rising demand for real-time data analytics from the aviation industry also boosts the global market growth. Rising need for real-time data in order to enhance the operational efficiency of the aircraft is another factor propelling the global market growth. Conversely, unwillingness shown by clients for the implementation of modern systems owing to the higher threat of cyber-attacks may restrain the global commercial avionics systems market to some extent.
Global Commercial Avionics Systems Market: Segmentation
The global commercial avionics systems market is fragmented based on aircraft type as rotary wing aircraft, and fixed wing aircraft. On the basis of systems, the global market is categorized as communication systems, surveillance systems, central maintenance systems, cabin systems, avionics full-duplex switched Ethernet, navigation systems, integrated modular avionics, electrical systems, cockpit systems, flight control and emergency system, and others.
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Global Commercial Avionics Systems Market: Regional Analysis
The U.S. and European nations are offering new growth opportunities for the avionics suppliers owing to rise in air travel and aviation industries in these regions. In addition, growth in the cyber attack has deterred developments in the commercial avionics systems. The U.S. is focusing on improving the national aviation industry by implementing NextGen Avionics programs, which is anticipated to boost the global commercial avionics systems market in this region.
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Global Commercial Avionics Systems Market: Competitive Players
Major players in the global commercial avionics systems market are Garmin Ltd., Rockwell Collins, Inc., Panasonic Avionics Corporation, GE Aviation, Honeywell Aerospace, and Thales Avionics. Other players include L-3 Avionics Systems, United Technologies Corporation, Universal Avionics System Corporation, and Avidyne Corporation.
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