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The Aircraft Communication System Market is expected to reach an estimated value of US$ 3.3 Billion in 2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Aircraft Communication System Market
Aircraft communication systems account for ~20% share of the total avionics’ equipment market. With increasing ACARS volume and rapidly evolving customer needs, there have been ceaseless developments in the communication systems market ranging from wireless communication equipment to surging use of data link and SATCOM-based communications.
Though the market efficiently dodged the B737max grounding debacle in 2019, the rapid spread of the pandemic in 2020 hit the market like a bolt out of the blue, bringing in sudden changes in the business, disconcerting the entire industry. The aircraft communication systems market recorded a massive downturn of -25% YoY in 2020, wrecking the hopes of another successful year in 2020.
Nevertheless, the long-term scenario still seems lucrative, backed by strong industry fundamentals coupled with the stakeholders’ unmatched ability to strive through the crisis. The aircraft communication systems market is likely to follow suit, moving parallelly with the industry’s rebound, experiencing a gradual rejuvenation in demand from 2021 onwards, translating to sales of US$ 3.3 Billion in 2026.
All regions are anticipated to mark grave declines in 2020. With the strong presence of leading players, North America and Europe are expected to hold the largest chunk of the market during the forecast period. The USA is likely to assert an undeniable dominance globally. Asia-Pacific is expected to take the fastest path towards healing, with the highest long-term CAGR, rapidly moving uphill in the long-term. Other key factors likely to cause a stir in the region’s market are the opening of assembly plants of Boeing and Airbus in China and the upcoming indigenous aircraft program (C919). India to be the new growth engine, actively developing policies to welcome companies willing to move away from China.
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Market Scope & Segmentation
Aircraft Communication Systems Market Share by Platform Type
Based on the platform type, Stratview Research has segmented the market as commercial aircraft, military aircraft, and government aircraft. As commercial aircraft faces a momentary hurdle due to the pandemic, the military aircraft segment is likely to remain relatively unflinching. Early signs of healing are discernible – The lift of FAA’s B737max grounding order (Nov. 2020) and Airbus’ highest delivery figures (Oct. 2020), since before the onset of the pandemic. The commercial aircraft segment to fuel the market in the long-term, logging the fastest recovery, owing to strong order backlogs of 12,498 (Airbus: 7,377 and Boeing: 5,121) aircraft as of October 2020.
Aircraft Communication Systems Market Share by Aircraft Type
Based on the aircraft type, we have segmented the market as manned aircraft and unmanned aircraft. Manned aircraft is expected to remain the dominant segment in the market, whereas unmanned aircraft to heal at a faster pace during the forecast period. Several new policies and procedures by the FAA are underway to address and accommodate the growing need for unmanned aircraft into civil aerospace, creating a pool of opportunities within the unmanned aircraft segment in the long run.
Go through the Table of Contents: https://www.stratviewresearch.com/toc/554/aircraft-communication-system-market.html
Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2021-2026. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
Know more about us:
Stratview Research is a global market research company and is known to offer custom research reports in varied fields such as Advanced Materials, Aerospace & Defense, Automotive & Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. Our market veterans make sure to have a deep research about the topics so that the most useful and authentic insights can be delivered to the professionals.
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