Aircraft Communication System Market Analysis, Size, Regional Outlook, Competitive Strategies and Forecasts to 2023
The Aircraft Communication System Market’
research report framed by Market Study Report, LLC, delivers a thorough
analysis of the industry trends influencing the global business scenario. In
addition, the report offers definitive information pertaining to the
commercialization aspects, revenue estimation, and market size of the industry.
The report overtly defines the status of key players in the competitive
landscape while including their portfolio and geographical expansion endeavors.
Aircraft Communication System Market is
estimated to surpass USD 1.3 billion by 2024; according to a new research
report.
Major prominent companies include: L3 Technologies, Harris Corporation, Thales, Cobham Plc, Lockheed Martin, and Raytheon are among the noticeable players. Other prominent participants in aircraft communication system market include Viasat Inc., General Dynamics, Honeywell Aerospace, Northrop Grumman Corporation, and UTC Aerospace Systems. Industry participants are adopting mergers and acquisitions as their prominent strategy to strengthen their foothold. For instance, in May 2014, Cobham completed the acquisition of a manufacturer of communication systems, Aeroflex to expand its product portfolio and enhance its visibility.
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The global aircraft communication system market is anticipated to accrue substantial gains in the ensuing years on account of the rising demand for communication technology in the aircraft sector along with a spate of M&As and collaborations in the industry.
The rising air passenger traffic, especially in Asia Pacific regions, has significantly impacted the aviation industry, prompting the introduction of novel and innovative technology to enhance passenger experience and safety. For instance, the Lufthansa Group has opted for Collins Aerospace ARINC GLOBALink to install an advanced air-to-ground aviation communication network to suffice the global communication requirements of its passengers. The ARINC GLOBALink service features reliable and highly secure data & voice communications amongst aircraft and ground operations through a private aviation network that demonstrates 99.999% availability. Under this deal, Lufthansa is using Collins’ full- range of ARINC GLOBALink services that include technologies like Very High Frequency, High-Frequency Data Link, and SATCOM to suffice the airline’s varied communication needs. The deployment of such advanced services in passenger airlines will escalate the growth rate of aircraft communication system market in the coming years.
SATCOM will dominate the aircraft communication system market, capturing over 35% of the volume share over the next eight years owing to provision of benefits such as efficiency in air traffic management and superior communication. Moreover, its extensive usage in military aircrafts will strengthen the product penetration due to their increasing orders. This high demand of military aircrafts due to rising defense budgets across the globe will further support the aircraft communication system market growth. HF communication systems will exhibit at over 7.5% CAGR from 2017 to 2024 owing to regular innovations in the product coupled with provision of efficient communication over long distance routes.
OEMs will account for over 90% of the revenue share in the aircraft communication system market owing to high deployment of these systems for safety, maintenance and air traffic control. Moreover, competitors are entering into long-term supply agreements with OEMs, further providing stable growth prospects. Shifting trend towards replacement of components including transceivers, transmitters, etc. will primarily drive the growth of aftermarket segment. Frequent enhancements in these communication systems is another factor responsible for the substantial aircraft communication system market growth over the coming years.
North America aircraft communication system market is expected to hold over 35% of the revenue share over the forecast timeframe. This can be credited to the presence of established aerospace industry leaders along with rising deployment of advanced communication systems in prominent aircrafts across the region. Rising defense expenditure of the developed countries including U.S. will further contribute towards region's dominance. Asia Pacific aircraft communication system market will grow rapidly, exhibiting a CAGR of over 6% over the coming years. Increasing aircraft deliveries has led to high demand for these systems, primarily supporting the regional growth.
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Increasing implementation of advanced technologies coupled with growing aviation industry will primarily drive the aircraft communication system market. Multiple developing countries in the world are witnessing an increase in air passenger traffic owing to affordable prices. This has resulted in substantial rise in aircraft deliveries from various manufacturers, further propelling the industry growth over the next eight years.
The rising proportion of collaborations between communication system manufacturers and the defense sector is yet another factor that is predicted to impel market demand. A recent example is the deal between L-3 Technologies and the U.S Navy, under which the former will provide a common communication system for MH-60R choppers to communicate with respective ships. The deal is a modification to a previously received contract for building, managing, resting and support of Hawklink AN/SRQ-4 common data link for the aircraft MH-60R Seahawk, with a $12.5 million investment.
Increasing defense budget of multiple countries is another factor positively impacting the aircraft communication system market growth. For instance, the U.S. defense budget crossed USD 604 billion in 2016 and is expected to further increase in 2018. This has led to increased production of military aircrafts, escalating the revenue generation. High profit margin of the industry players owing to rising number of orders for helicopters and military aircrafts will result in increased deployment of these advanced communication systems which in turn will further strengthen the aircraft communication system market penetration. However, signal congestions, specifically for low frequency bands may pose a challenge.
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Complete report for 2017-2024 on Aircraft
Communication System market is now available at https://www.marketstudyreport.com/reports/aircraft-communication-system-market
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Posted by
Chetan Channe
on Thursday January 10 2019, 10:30 AM EST.
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