DUBLIN, March 24, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/khcgx6/commercial) has announced the addition of the "Commercial Avionics Systems Market by Sub-System, Platform, Fit and Geography - Global Forecast to 2020" report to their offering.
The commercial avionics systems market is projected to reach USD 22.49 Billion by 2020, at a CAGR of 6.10% from 2015 to 2020
Factors such as increase in aircraft order and deliveries, growth in emerging economies, need for real-time data, growing concept of integrated modular avionics, and implementation of avionics systems for next-generation aircraft are driving the growth of the commercial avionics systems market.
Avionics systems have been increasing the interest of various manufacturers and their inclination towards the commercial avionics systems market. Government organizations and private agencies have been investing in the manufacture and development of advanced and efficient avionics sub-systems.
The commercial avionics systems market is segmented on the basis of platform, sub-system, fit, and region. By sub-system, the market is categorized into flight management systems, flight control systems, health monitoring systems, communication, navigation & surveillance systems, and electrical and emergency systems. The flight control systems segment is expected to grow at the highest CAGR during the forecast period. It is further categorized into primary flight control and secondary flight control systems.
On the basis of platform, the commercial avionics systems market is segmented into fixed-wing aircraft and rotary-wing aircraft. The fixed-wing aircraft segment is estimated to account for the largest share in the commercial avionics systems market, in 2015. This segment is further categorized on the basis of aircraft type, such as very large aircraft, narrow body aircraft, wide body aircraft, and regional transport aircraft. Among them, the narrow body aircraft segment is expected to grow at the highest CAGR during the forecast period.
The commercial avionics systems market is dominated by North America, followed by Europe, Asia-Pacific, and rest of the world (RoW). The Asia-Pacific region, being a diverse mix of countries and aviation requirements, is expected to witness the highest number of aircraft deliveries than any other region during the forecast period. The increase in aircraft deliveries is expected to lead the commercial avionics systems market.
Key players operating in the commercial avionics systems market include Honeywell International Inc. (U.S.), Thales Group (France), Rockwell Collins (U.S.), United Technologies Corporation (U.S.), and GE Aviation (U.S.). Others players operating in this market include Teledyne Technologies, Inc. (U.S.), Garmin Ltd. (Switzerland), Panasonic Avionics Corporation (Japan), L-3 Communications Holdings Inc. (U.S.), Universal Avionics Corporation (U.S.), and Meggitt PLC (France), among others.
For more information visit http://www.researchandmarkets.com/research/khcgx6/commercial
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SOURCE Research and Markets