The global commercial aircraft nextgen avionics market size is expected to grow from USD 1,531.6 million in 2020 to USD 4,103.6 million by 2027, at a CAGR of 8.3% from 2021 to 2027. The Federal Aviation Administration and the Radio Technical Commission for Aeronautics have defined NextGen avionics’ equipment aspects in North America. They include increased use of portable or installed electronic flight bags and leveraging existing aircraft capabilities such as WAAS/ GPS, localizer performance with vertical guidance, area navigation and terminal required navigation performance, vertical navigation, and flight information system broadcast. The new aircraft equipment capabilities targeted are data communications via flight management system integration, global navigation satellite system, landing systems, automatic dependent surveillance-broadcast, and traffic information service – broadcast for aircraft without traffic collision avoidance systems.
The use of data in the aviation sector to make critical flying choices is rapidly growing. The latest aircraft designs, adopted by new aircraft fleets, are equipped with technology that allows for excellent data collection and transmission. The latest generation of aircraft produces a huge amount of data through thousands of sensors and advanced digitalized systems.
In response to the advancement of NextGen avionics, certain major aerospace companies have used various techniques to succeed in the market throughout the years. For example, to gain traction in the market, Curtiss-Wright used agreement, contract, and product launch as key developmental strategies; Honeywell International Inc. used agreement, partnership, and product launch; and Raytheon Technologies Corporation used to contract, agreement, investment, and product development as key developmental strategies. The growing endeavor by global companies to produce more dependable and efficient avionics systems is likely to increase the worldwide commercial aircraft NextGen avionics market during the forecast period.
Request for a sample report here: https://www.marketstatsville.com/request-sample/commercial-aircraft-nextgen-avionics-market
COVID-19 Impact on the Global Commercial Aircraft NextGen Avionics
In December 2019, cases of pneumonia with unknown ethology were found in Wuhan city, China. It was observed that initial patients visited some wet seafood markets where other wildlife species were also sold. Molecular analysis and isolation of the virus from human patients unveiled that this new pathogen was a new coronavirus, first named 2019-nCoV and later named COVID-19 by the World Health Organization (WHO). SARS-CoV-2 is the seventh coronavirus known to infect humans.
The novel SARS-CoV-2 coronavirus (COVID-19) that emerged in Wuhan, China, in December 2019 has since caused a large-scale COVID-19 epidemic and spread to more than 218 other countries. Attributed to international travel, the virus spread from Wuhan, China, to the rest of the countries in the world, with more than 59,653,413 people being infected with 1,404,725 deaths across 218 countries and territories (according to data provided by the World Health Organization (WHO), as of November 24th, 2020).
Global Commercial Aircraft NextGen Avionics Market Dynamics
Drivers: Initiatives by government administrations to make aerospace safer and more efficient
FAA produces new unified systems that primarily change and enhance navigation, communications, and surveillance in the National Airspace System. In terms of communication, aircraft will obtain dynamic and intricate commands from ground systems that can detect the aircraft’s exact location and time in a modernized NAS. Navigation-wise, the FAA has switched to a satellite-enabled navigation system that is more accurate than conventional ground-based navigation supports. The continuing implementation of NextGen offers air traffic controllers the precise position of aircraft and a clear vision of immediate surroundings, including weather conditions and other aircraft.
With improvement in these three essential areas, NextGen considerably improves the overall efficiency, capacity, performance, and predictability throughout the NAS. The implementation of NextGen would require the improvement of avionics systems that will enable integrate of commercial space operations, data communications and enhance decision support software applications, among other developments.
Restraints: Cybersecurity issues with NextGen avionics systems
Modern airplanes are fitted with systems and networks that exchange data with air-traffic controllers, maintenance crews, pilots, passengers, and other aircraft, in a manner that was not earlier possible. Thus, if the electronic systems are not aptly secured, they could expose themselves to the risks of a wide range of possible cyberattacks.
Vulnerabilities could occur for several reasons: not applying patches to commercial software, outdated systems on outdated airplanes, malicious software uploads, flight data spoofing, and insecure supply chains. Wide-ranging cybersecurity controls were executed, and there have not been any instances of cyberattacks on an aircraft’s avionics systems. Still, increasing linkage amongst airplanes and other systems and the developing cyber threat landscape could result in growing risks for future aircraft security.
Opportunities: Increase in air passenger traffic across the globe
According to International Civil Aviation Organization’s yearly worldwide statistics, the total number of commuters carried on scheduled flights rose to 4.38 billion in 2019, which was 3.65% higher than the previous year. The most increased passenger traffic was witnessed in the Asia-Pacific region. In October 2018, the International Air Transport Association publicized that current air transport projects could double the passenger count to 8.2 billion in 2037. The COVID-19 pandemic led to a severe downfall in air traffic figures. However, recently, in May 2021, the IATA stated that the global air passenger traffic is anticipated to recover to almost 88% of pre-COVID-19 levels during 2022 and is projected to outdo this level in 2023. This signifies a robust demand for air travel globally. This rise in air passenger traffic is expected to result in the procurement of new aircraft on a large scale across the world, which is expected to generate huge demand for the whole supply chain of the aircraft, including avionic components. Moreover, with the announcement by the FAA and European Union Aviation Safety Agency regarding the upgrade of avionics components, new aircraft must be installed with NextGen avionics. This is expected to lead to significant growth of the global commercial aircraft NextGen avionics market during the forecast timeline.
You Can Purchase Complete Report: https://www.marketstatsville.com/buy-now/commercial-aircraft-nextgen-avionics-market?opt=2950
Scope of the Report
The study categorizes the commercial aircraft nextgen avionics market based on system, installation stage, and aircraft type at the regional and global levels.
By System Outlook (Sales/Revenue, USD Million, 2017-2027)
- Flight Management System
- Communication System
- Electric and Navigation System
- Surveillance and Emergency System
- Collision Avoidance System
- Weather System
By Installation Stage Outlook (Sales/Revenue, USD Million, 2017-2027)
- Forward Fit
By Aircraft Type Outlook (Sales/Revenue, USD Million, 2017-2027)
- Narrow Body
- Wide Body
By Region Outlook (Sales/Revenue, USD Million, 2017-2027)
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
By system, the communication system segment is projected to account for the largest market share
On the basis of system, the global commercial aircraft NextGen avionics market is segmented into the flight management system, electric and navigation system, surveillance and emergency system, communication system, collision avoidance system, weather system, and others. The communication system segment was the highest contributor, with 24.0% of the market share in 2020. A communication system enables the exchange of data through a system of automated ground stations integrating internal computers. An increasing number of airports have installed data communication capabilities developed under Federal Aviation Administration’s NextGen upgrading initiative, which permits text-based supplementary communications systems for aircraft air traffic controllers and pilots. The next-generation technology supports radio voice communication, allowing pilots and controllers to convey vital data, such as revised flight plans, clearances, and advisories, with just the touch of a button. The growing demand for improved communication systems is anticipated to drive the growth of this segment during the forecast timeframe.
Access full Report Description, TOC, Table of figures, Chart, etc: https://www.marketstatsville.com/table-of-content/commercial-aircraft-nextgen-avionics-market
Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global commercial aircraft nextgen avionics market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 10.0% in the global commercial aircraft nextgen avionics market during the forecast period. The Asia-Pacific region includes China, India, Japan, South Korea, and the rest of Asia-Pacific. The growing air traffic in Asia-Pacific, together with rising demand for modernization and enhancement of existing aircraft infrastructure in the region, is expected to offer lucrative opportunities for the growth of the commercial aircraft NextGen avionics market in the region during the forecast period.
Request For Report Description: https://www.marketstatsville.com/commercial-aircraft-nextgen-avionics-market
After Asia-Pacific, Europe is the fastest-growing region with a CAGR of 7.3% during the forecast period. The European aviation industry is a large market for airlines and airline component manufacturers. The European aviation industry is a large market for airlines and airline component manufacturers. The rise in investment, R&D activities in the commercial aviation industry for developing power electronics, flight management systems, and communication systems are expected to boost the expansion of the market in Europe during the forecast period.
Key Market Players
Competitive analysis and profiles of the major global commercial aircraft NextGen avionics market include BAE Systems PLC, Curtiss-Wright, Cobham Limited, General Electric Company, L3Harris Technologies Inc., Raytheon Technologies Corporation, Honeywell International Inc., Safran, and Teledyne Technologies Incorporated. Every company follows its business strategy to attain the maximum market share.