Aircraft Interface Device Market worth $311 million by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 25, 2020 /PRNewswire/ -- The report "Aircraft Interface Device Market by End-Use (Fixed Wing, Rotary Wing), Fit (Line Fit, Retrofit) Aircraft Type, Connectivity, and Region (North America, APAC, Europe, Middle East, Africa, Latin America) - Forecast to 2025", published by MarketsandMarkets™, 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 a growing need for 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 South America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect aircraft interface device production by 7–10% globally in 2020.
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Optimizing cockpit systems and in-flight entertainment systems with AID is driving the growth of fixed-wing aircraft
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.
The retrofit segment is projected to witness a higher CAGR during the forecast period
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 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.
The military segment is projected to witness a higher CAGR during the forecast period
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.
The wireless segment is projected to witness a higher CAGR during the forecast period
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.
Browse in-depth TOC on "Aircraft Interface Device Market"
167 – Tables
44 – Figures
176 – Pages
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The North America market is projected to contribute the largest share from 2020 to 2025
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.
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