Albany, NY, Jan. 13, 2016 (GLOBE NEWSWIRE) -- The global market for commercial avionics systems is chiefly driven by increasing need for real time data to improve aircraft’s efficiency. The increasing concerns to improve the safety and surveillance in aircrafts is also influencing the growth of global commercial avionics systems market. Modern commercial avionics systems provide advantages to the pilot and the crew in terms of streamlined and easy control, display and communication functions, thereby reducing risks associated with human errors during flight. The increasing expectation of the air passengers for enhanced in-flight services has boosted the demand for in-flight entertainment (IFE) systems, which in turn is pushing the global market for commercial avionics systems forward.
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Among all avionics systems, the navigation segment held the highest revenue share of the overall market in 2014. With the various ongoing initiatives to improve the avionics in modern aircrafts, the market for navigation systems is increasing significantly. Additionally, the communication, surveillance, flight control and emergency, cockpit and cabin systems also registered significant market share in the global commercial avionics systems market. Based on aircraft type, the commercial avionics systems used in fixed wing aircrafts accounted for more than 70% in 2014. Rotary wings aircraft segment is growing at a slower pace at present, but is expected to gain pace over the forecast period.
Geographically, North America accounted for the largest share in the global commercial avionics systems market with more than forty percent revenue share in 2014 and is expected to continue its dominance throughout the forecast period. The key drivers influencing the growth of the commercial avionics systems market in North America are growing need for real time data, increasing adoption of advanced technology to improve the efficiency of aircrafts, and modernization of parked aircrafts with enhanced avionics systems. Moreover, the well established air network in the region also influences the growth for commercial avionics systems market in North America. The U.S. holds the largest market share for commercial avionics systems globally. North America commercial avionics market is followed by Europe with a significant market share. However, Asia Pacific is estimated to be the fastest growing region in the commercial avionics systems market with a CAGR of 4.0% from 2015 to 2021. The report includes the market revenue of commercial avionics systems in 11 leading countries worldwide.
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The report provides company market share analysis of the various industry participants. Key players have also been profiled on the basis of company overview, financial overview, business strategies, historical roadmap and recent developments in the field of commercial avionics systems. The key market participants profiled in the report include Rockwell Collins, Inc., Honeywell Aerospace, Thales Avionics, Panasonic Avionics Corporation, GE Aviation, Garmin Ltd., United Technologies Corporation, L-3 Avionics Systems, Avidyne Corporation and Universal Avionics System Corporation among others.
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