Dublin, Dec. 09, 2020 (GLOBE NEWSWIRE) -- The "Aircraft Interface Device Market by End-Use (Fixed Wing, Rotary Wing), Fit (Line Fit, Retrofit) Aircraft Type, Connectivity - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Aircraft Interface Device Market Size is Projected to Grow from USD 167 Million in 2020 to USD 311 Million by 2025, at a CAGR of 13.2% from 2020 to 2025.
The market is driven by various factors, such as an increase in demand for real-time aviation analytics and growing need situational awareness.
The aircraft interface device market includes major players Collins Aerospace (US), Thales SA (France), The Boeing Company (US), Astronics Corporation (US), and Elbit Systems Ltd (Israel).
These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect aircraft interface device production and services by 7-10% globally in 2020.
Fixed Wing: The largest segment of the aircraft interface device market, by end-use.
The fixed-wing segment is expected to be the largest market by value. The growth of the fixed-wing segment of the aircraft interface device market can be attributed to the growing demand for to replace the conventional aircraft components with more efficient and advanced avionic components such as electronic flight bag (EFB) and in-flight entertainment & connectivity (IFEC) systems.
Retrofit: The fastest-growing segment of the aircraft interface device market, by fit.
Based on fit, the retrofit segment is projected to be the highest CAGR rate for the aircraft interface device market during the forecast period. Technological advancements in the field of the aircraft interface device, the development of safety systems, and the increasing demand for real-time data are key factors propelling the growth of advanced cockpit systems among airlines. The rise in demand for replacement with a technologically-advanced aircraft interface device has propelled the growth of the retrofit segment.
Military: The fastest-growing segment of the aircraft interface device market, by aircraft type.
Based on the aircraft type, the military segment is projected to be the highest CAGR rate for the aircraft interface device market during the forecast period. The military segment covers military aircraft, such as military transport, military helicopters, fighter jets, and special mission aircraft. Some of the key factors influencing military operations are internal and external threats and the growing number of immigrants in various countries. Governments of various countries, such as the US and China, are investing in enhancing their defense capabilities. Increasing spending on military avionics equipment is further expected to drive the market for aircraft interface device.
Wireless: The fastest-growing segment of the aircraft interface device market, by connectivity.
Based on the connectivity, the wireless segment is projected to be the highest CAGR rate for the aircraft interface device market during the forecast period. In wireless connectivity, the data transferred between aircraft and the MRO engineers located on the ground are routed using radiofrequency and satellites.
The data, including aircraft's location, destination, speed, and other relevant information, is provided by the aircraft to MRO operators in real-time. All this data requires more bandwidth to get the information transferred from aircraft to the on-ground MRO operators. Currently, most of the avionics systems require advanced connectivity, which facilitates easier ground connections. This offers a high opportunity for the growth of wireless connectivity.
North America: The largest contributing region in the aircraft interface device market.
North America is projected to be the largest regional share for the aircraft interface device market during the forecast period. The key factor responsible for North America, leading the aircraft interface device market is the high demand for new aircraft in the region. The growing demand for aircraft for commercial applications and their increasing utility in the defense sector to carry out transport and surveillance activities are additional factors influencing the growth of the aircraft interface device market in North America.
Leading aircraft manufacturers, such as The Boeing Company and Bombardier, and major aircraft system and component manufacturers, such as Collins Aerospace, Astronics Corporation, Viasat, Inc., and Teledyne Controls LLC are headquartered in North America. Some of the largest commercial airlines (based on fleet size), such as American Airlines Group, Delta Air Lines, Inc., and United Airlines, are also headquartered in the region.
The aircraft interface device market is growing in this region owing to the increased demand for fixed-wing and rotary-wing aircraft, which are being widely used in civil, military, and security applications.
Increase in Situational Awareness to Drive Operations
Reduction of Maintenance Cost
Increase in Demand for Real-Time Aviation Analytics
Reduction in Operational Costs with Minimal Fuel Consumption
Large Existing Aircraft Fleet for Retrofitting
Certification from Regulatory Bodies and Regulations Associated with Airworthiness
Benefits Associated with Advanced In-Flight Entertainment Services
Installations in Commercial Helicopters
Cybersecurity Issues with Wireless Devices
Software Errors and Program Design
Compatibility Issues with Retrofitting
Impact of COVID-19 on Cancellations and Delaying Orders from End-users
CMC Electronics Inc.
Concept Development, Inc.
DAC International, Inc.
Elbit Systems Ltd.
Global Eagle Entertainment Inc.
Honeywell International Inc.
Skytrac Systems Ltd.
Teledyne Controls LLC
The Boeing Company
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