-- Aircraft communication system market has witnessed a remarkable expansion, over the recent years, synonymous to the burgeoning global aviation sector. 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.
Transponders will account for more than USD 640 million in the aircraft communication system market by the end of 2024. High revenue generation can be attributed to provision of precise information about the aircraft such as aircraft identification and barometric altitude. Moreover, advantages such as maintaining proper communication with on-ground ATC systems has led to its wide implementation in military and commercial aircrafts.
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One of chief drivers for the aircraft communication system market is the exponential growth of the commercial aircraft industry. Considering an instance of Airbus, one of the pioneers of the aerospace industry, the firm has set its goal of tripling its revenues within the next seven years to enable its commercial aircraft business reach $10 billion. It also plans to target measures worth $555 million in 2018 to improve productivity. With such large investments in place, it is predictable that aircraft communication system market will witness a substantial boost from the commercial aircraft segment. Estimates suggests that aircraft communication system industry size from commercial aircraft applications will witness a CAGR of 3.5% over 2017-2024.
SATCOM, one of the pivotal products in aircraft communication system market, has proved itself to be rather crucial in air traffic management. Its increased deployment in military aircrafts is likely to upscale its demand, thereby stimulating aircraft communication system market size from SATCOM. Incidentally, this product segment is estimated to cross $480 million by 2024.
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.
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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.
Cobham Plc, Harris Corporation, UTC Aerospace Systems, Lockheed Martin, Iridium Communications Inc., L3 Technologies, and Raytheon are among the prominent participants in the aircraft communication system market. Industry participants are adopting mergers and acquisitions as their prominent strategy to strengthen their foothold.
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Aircraft communication system market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in units and revenue in USD million from 2013 to 2024, for the following segments:
Aircraft Communication System Market by Product
• SATCOM
• HF
• VHF
• UHF
• Data Link Communication
Aircraft Communication System Market by Component
• Antenna
• Transponder
• Receiver
• Transmitter
• Transceiver
• Display & Processor
Aircraft Communication System Market by Aircraft
• Commercial aircraft
• Military aircraft
• Helicopters
• Space
• Others
Aircraft Communication System Market by Distribution Channel
• OEM
• Aftermarket
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