Global Aerospace Avionics Market Expected to Reach XX Million by 2025 - Reports Monitor
According to a new report published by Reports Monitor titled, “Aerospace Avionics Market by type, by formulation, and by Application: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the aerospace avionics market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Europe dominates the aerospace avionics market, both in terms of volume and value, and is expected to maintain this trend throughout the forecast period.
The market growth is high as modifications in aerospace field is carried out on a large scale. The modifications might be deployed in next generation transportation system. There is continuous increasing in air passengers traffic which leads to the growth of market.
There are several opportunities in the market, as there is high demand for the market by mandates for ADS-B and EVS from various countries. The other opportunity is the rising commercialization of Unmanned Aerial Vehicle (UAV).
The market has to face number of challenges for the growth of the market. It is necessary to train pilots and crew members for the proper functioning of aerospace avionics. There should be the attachment of compulsory certifications.
The light control & management system is considered to grow with the highest CAGR value.
On the basis of fit segment, the retrofit is estimated to grow with the largest CAGR value.
Asia Pacific is predicted to grow at the fastest rate in aerospace avionics market. The growth is due to the increase in aircraft deliveries.
The UVA is a segment which is considered to grow at highest CAGR value.
The major companies profiled in the report include Honeywell International Inc., Rockwell Collins, Inc., United Technologies Corporation, Thales Group, GE Aviation, Teledyne Technologies, Inc., L3 Technologies, Inc., Garmin Ltd., Curtiss-Wright Corporation, Meggitt PLC, Esterline Technologies Corporation, and Cobham PLC
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