Data Bus Market Size Worth $25.25Bn, Globally, by 2028 at 4.6% CAGR - Exclusive Report by The Insight Partners

The Data Bus Market Size, Growth driven by the increase in passenger car orders, rise in the number of aircraft deliveries, upgrading of naval and airborne programs, and a need to decrease swap specifications. The hardware segment expected to account for 62.2% of the total market share in 2028. The Mil-Std 1553 segment led the market with a share of 47.5% in 2020; it is expected to account for 47.8% of the total market in 2028.

NEW YORK, March 21, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Data Bus Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Hardware and Software), Protocol (Arinc 429/629, Mil-Std 1553, and Others), and Application (Marine, Automotive, Commercial Aviation, and Military Aviation)", the global data bus Market is expected to grow from $18.48 billion in 2021 to $25.25 billion by 2028; it is estimated to grow at a CAGR of 4.6% during 2021-2028.

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Data Bus Market: Competitive Landscape and Key Developments

Astronics Corporation, Collins Aerospace, Fujikura Ltd., HUBER+SUHNER, Nexans, TE Connectivity Corporation, Amphenol Ltd., Data Device Corporation, Data Bus Corporation, and OCC are among the key players that are profiled during this Data Bus market study. In addition, several other essential players were studied and analyzed to get a holistic view of the global Data Bus market and its ecosystem.

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In 2021, Astronics Corporation announced the launch of new protocol models for its Ballard ME1000 family of mPCIe avionics interface cards for embedded aerospace applications. The new models provide interfacing capability for ARINC 429 and ARINC 717 Data Bus protocols, and join models for MIL-STD-1553 that were previously released.

In 2019, Data Device Corporation (DDC) released two new ultra-compact 1553 magnetics components that provide size and weight savings, enabling minimized package design and optimized system connectivity.

The Europe Data Bus market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Owing to the factors such as high GDP and GDP per capita, favorable economic policies, and robust transportation infrastructure, automotive, aerospace, and marine industries have flourished in the region. The aerospace industry is one of the largest industries contributing significantly to the GDP of Europe. Russia and France are the largest aircraft manufacturing countries in Europe. Leading aircraft manufacturers—such as Airbus, Leonardo, Dassault Aviation, TECNAM Aircraft, Piaggio Aerospace, Daher, Extra Aircraft, Pipistrel, Sonaca Aircraft, Flight Design GmbH, and Hélicoptères Guimbal—have their manufacturing facilities in the region. Such leading players have paved the path for high uptake of military and civil aircraft and helicopters, which is driving the Data Bus market.

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Further, Currently, the region houses ~300 shipyards specialized in building and repairing complex and technologically advanced ferries, cruise ships, research vessels, offshore supply vessels, fishing vessels, workboats, dredgers, sophisticated naval ships, and other non-cargo-carrying ships. Fincantieri S.p.A., DAMEN Shipyards Group, BAE Systems, ThyssenKrupp AG, Saab, and Wärtsilä are among the leading companies in Europe that build a notable number of advanced civil and naval ships. Moreover, the region has the world's largest inland waterway infrastructure. These factors are bolstering the growth of the Data Bus market.

Data Bus Market: Application Type Overview

Based on application, the Data Bus market is segmented into automotive, marine, commercial aviation, and military aviation. In 2020, the military aviation segment led the market and accounted for the largest share. MIL-STD-1553 was designed with military aerospace platforms in consideration. The standard has recently broadened its scope to include applications for combat vehicles, ships, satellites, missiles, the International Space Station Program, and advanced commercial avionics. MIL-STD-1553 data buses are used in military aircraft to allow complicated electronic subsystems to communicate with one another and with the onboard flight computer. The Data Bus items connect the subsystem electronics to the 1553 Data Bus. With the progress of microelectronics, military missiles and smart bombs are becoming more intelligent, precise, and devastating. By leveraging the Data Bus to download information from the aircraft right before launch and coordinate information flow during the weapon's flight, these systems have benefited from MIL-STD-1553 data buses. The Airbus A-400M Turboprop Military Transport, Bell-Boeing V-22 Osprey Vertical, and Short Takeoff and Landing (V/STOL) Helicopter, and General Dynamics F-16 Fighting Falcon Jet Fighter are among the aircraft that utilize this protocol's Data Bus. Thus, the growing deployment of military aircraft is driving the Data Bus market.

Impact of COVID-19 Pandemic on APAC Data Bus Market Growth:

As per International Air Transport Association (IATA) estimates, APAC airlines recorded a revenue decline of US$ 113 billion in 2020 compared to 2019. The reduction in air travel demand and border restrictions have resulted in the grounding of aircraft at an unprecedented scale. From aircraft manufacturing and assembly viewpoint, China is one of the leading aerospace manufacturing countries in the region and has been one of APAC's most affected countries during Q1 and Q2 of 2020.

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Due to this, the manufacturing facilities have witnessed severe conditions in general aviation aircraft and component manufacturing facilities. The Airbus and Boeing manufacturing facilities in China were shut down for a longer period, which resulted in substantially lesser demand for various components and systems, including cables and couplers. Similarly, China's indigenous aircraft manufacturer COMAC also halted its production of C919 during Q1, which negatively affected the commercial aviation market, which directly impacting the Data Bus market.

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