(MENAFN- EIN Presswire) Commercial Aircraft NextGen Avionics Market1
By system, the market is categorized into flight management system, communication system, electric and navigation system.
PORTLAND, OR, UNITED STATES, May 30, 2023/einpresswire.com / -- According to a recent report published by Allied Market Research, titled,“commercial aircraft nextgen avionics market by System, Installation Stage, and Aircraft Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
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The transition to the next generation of aviation infrastructure (nextgen) is aided by the adoption of miniaturized, satellite-based, and digital machinery as well as new procedures, all of which join forces to make air travel more convenient, environment-friendly, and predictable in the face of ever-growing congested airspace in the U.S. and across the world.
In April 2021, the U.S. government invested $25 billion in the aviation sector as part of its efforts to enhance aircraft infrastructure. Aviation experts are demanding more money to put into the improved aviation infrastructure setup, which is in urgent need of an upgrade. Such developments are anticipated to bolster the growth of the global commercial aircraft nextgen avionics market during the forecast timeframe.
Covid-19 scenario:
The Covid-19 outbreak resulted in stringent lockdown norms and ban on international and domestic travel in 2020. This declined the demand for air travel and hindered the adoption of novel technologies such as artificial intelligence and machine learning in avionics.
In addition, the country-wide lockdown forced manufacturing facilities to shut down their operations partially or completely. This delayed the activities and initiatives regarding advancements in nextgen avionics solutions.
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By system, the market is categorized into flight management system, communication system, electric and navigation system, surveillance system, emergency system, collision avoidance system, weather system, and others. The communication system segment accounted for the highest revenue in 2020, owing to high demand for superior data communication systems across the globe. The growing demand for improved communication systems is expected to result in a higher demand for communication systems in future.
By aircraft type, the global commercial aircraft nextgen avionics market is bifurcated into narrow body and wide body. The narrow body segment accounted for the highest revenue in 2020, owing to higher range and efficiency of next-generation narrow body aircraft manufactured by big players such as Boeing and Airbus.
Key Findings Of The Study
By system, the surveillance and emergency system segment is expected to register a significant growth during the forecast period.
By installation stage, the retrofit segment is anticipated to exhibit significant growth in future.
By aircraft type, the wide body segment is projected to lead the global commercial aircraft nextgen avionics market, owing to higher CAGR as compared to the narrow body segment.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Key players operating in the global commercial aircraft nextgen avionics industry include BAE Systems PLC, Cobham Limited, Curtiss-Wright, General Electric Company, Honeywell International Inc., L3Harris Technologies Inc., Raytheon Technologies Corporation, Safran, Teledyne Technologies Incorporated, and Thales Group
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