Aircraft Communication System Market By Technology, Product, Application 2017-2024
Date: 2018-08-31   Author: Ronak Bora  Category: #market

Aircraft Communication System Market By Technology, Product, Application 2017-2024

Aircraft Communication System Market is predicted to cross USD 1.3 billion by 2024. Rising adoption of advanced technologies along with proliferating aviation sector is primarily driving the industry. Various emerging nations are experiencing an increase in air passenger traffic due to affordable prices. This has led to increase in airplane deliveries from multiple manufacturers further boosting the industry growth rate.

SATCOM is projected to dominate the aircraft communication system market share with over 35% over the forecast time span owing to benefits offered such as superior communication and efficient air traffic management. Moreover, high usage in military aircrafts will improve the product penetration due to rising orders. HF communication systems will pose a CAGR of 7.5% between 2017 and 2024 owing to continuous product innovations.

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Transponders in the aircraft communication system market is expected to cross USD 640 million over the forecast time span. This revenue generation can be credited to provision of accurate information of the air fleets including barometric altitude and identification. Additionally, benefits such as maintaining communication with on-ground ATC units has resulted in wide usage in commercial and military planes.

Increasing defense expenditure of multiple nations is one of the several factors positively affecting the overall business. For instance, in 2016, the U.S. defense budget surpassed USD 604 billion resulting in increased military aircraft production. High profit margin of the industry participants due to multiplying orders for military aircrafts and helicopters has led to increased incorporation of advanced products. However, network congestions, particularly for low frequency bands may provoke the industry growth over the projected time span.

Military aircrafts are predicted to hold highest industry volume share with more than 64,000 units by 2024. This can be attributed to rising installation of SATCOM and other enhanced technologies in these air fleets. Rising demand for fighter planes combined with multi-functional capabilities will uphold its dominance. Commercial aircrafts segment will pose a CAGR 3.5% due to enhancement in aviation sector across the globe.

Manufacturers, especially from developed nations of Europe and North America are concentrating on growth opportunities from international markets. In addition, they are developing long term agreements with the OEMs, inducing immense potential in the overall business. Industry players are focusing on reducing product weight coupled with versatility for multiple use. Replacement of conventional systems with the advanced counterparts has gained prominence.

OEM segment is estimated to account for around 90% of the aircraft communication system market revenue share by 2024. This can be credited to installation for improving air traffic control, maintenance, and safety. Replacing components such as transmitters, transceivers, etc. is driving the aftermarket sector over the study period.

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North America is forecasted to hold more than 35% of the aircraft communication system market revenue share by 2024 owing to presence of established industry participants. Increasing defense expenditure is further contributing in the regional dominance. Asia Pacific is predicted to exhibit approximately 6% CAGR during the study period. Rising airplane deliveries has resulted in high product demand, supporting the regional growth.

Major aircraft communication system market players are Harris Corporation, Lockheed Martin, Raytheon, L3 Technologies, Cobham Plc, and Thales. Other notable players are Honeywell Aerospace, UTC Aerospace Systems, Viasat Inc., General Dynamics, and Northrop Grumman Corporation. Industry players are implementing merger and acquisitions strategy to strengthen their regional foothold.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.


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