[232 Pages] Aircraft interface device market to reach $368.9 Million by 2030; Wireless connectivity to rise at 10.1% CAGR; Retrofit to rake at 10.2% CAGR.
PORTLAND, ORAGON, UNITED STATES, September 27, 2021 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Aircraft Interface Device Market by Connectivity, Fit, and Aircraft Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global aircraft interface device market was valued at $163.8 million in 2020, and is projected to reach $368.9 million by 2030, registering a CAGR of 9.3%.
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North America dominates the market, in terms of revenue, followed by Asia-Pacific, Europe, and LAMEA. The U.S. dominated the global aircraft interface device market share in North America in 2020, owing to increase in R&D activities, technological developments by big players, rapid adoption of innovative technologies in making safer, convenient, and efficient data transmission devices. North America is expected to grow at a significant rate during the forecast period, owing to rise in regulations regarding the development of reliable and efficient aircraft interface technologies.
By connectivity, the market is categorized into wired and wireless. The wireless segment accounted for the highest revenue in 2020, owing to high demand for convenient inflight entertainment services, highly responsive avionics, and reliable data transmission needs.
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By aircraft type, the aircraft interface device market is bifurcated into civil and military. The military segment accounted for the highest revenue in 2020, owing to rapid growth in demand for modernizing aircraft interface systems in new and older generation of military aircraft across the world.
Aircraft interface device enhances the performance of electronic flight bag applications, reduces fuel burn and efficiency, and provides important safety features, which are expected to drive the aircraft interface device market during the forecast period. However, issues relating to the certification from regulatory bodies and rise in the vulnerability of flight systems and electric flight bags are anticipated to hamper the growth of the market. Moreover, benefits associated with advanced in-flight entertainment services and rise in demand for situational awareness are expected to offer lucrative opportunities in future.
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COVID-19 Impact Analysis
The COVID-19 impact on the aircraft interface device market is unpredictable, and is expected to remain in force till the second quarter of 2021.
The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned domestic and international travel for most of 2020. This led to sudden fall in demand for air-travel and hampered the adoption of technologies, into modernizing the aircraft technologies across the globe.
Moreover, nationwide lockdowns forced avionics parts manufacturing facilities to partially or completely shut their operations.
Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of robust and innovative aircraft interface solutions globally.
Key Findings Of The Study
By connectivity, the wireless segment is expected to register a significant growth during the forecast period.
By fit, the retrofit segment is anticipated to exhibit significant growth in future.
By aircraft type, the military segment is projected to lead the global aircraft interface device market, owing to higher CAGR as compared to civil segment.
By region, North America is anticipated to register the highest CAGR during the forecast period.
Key players operating in the global aircraft interface device market include Anuvu, Astronics Corporation, Collins Aerospace, Elbit Systems Ltd., Honeywell International Inc., SCI Technology, Inc., Skytrac Systems Ltd., Teledyne Controls LLC, Thales Group, and The Boeing Company.
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