Aircraft Computer: Market Size. From $7. 13 billion in 2020, the global Aircraft Computer market is projected to reach $13. 11 billion by 2028. Based on our analysis the market is expected to grow at a CAGR of 7.
New York, Aug. 25, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report "Global Aircraft Computer Market Analysis & Trends – Industry Forecast to 2028" – https://www.reportlinker.com/p06127680/?utm_source=GNW
9% from 2020 – 2028 timeframe.
Some of the prominent trends that the market is witnessing include, advancements in IOT-enabled jet engines, rising demand for aircraft computers in unmanned aerial vehicles and growing retrofit activities in the general aviation industry.
Global Aircraft Computer Market: Market Dynamics
An aircraft has numerous systems that are required to be controlled by computers to confirm that systems work appropriately and do not break down during flight. Computers in an aircraft are used for, flight management, engine control, flight control, utility control, and other purposes. Aircraft computer applications are growing in an aircraft to guarantee the safety of passengers and decline the workload of the pilot. The rise in the number of aircraft deliveries is also predictable to propel the aircraft computers market.
For instance, in February 2020, the budget was approved by the U.S. government for defense and national security. The focus is on four major areas including increase alliances & attracts new partners, improvement of military readiness & investment in the department reforms for greater performance, modernization of a more lethal force, and support service members of individuals.
On the other hand, strict regulations in aviation industries and existing backlogs in aircrafts delivery obstruct the profit boundaries. In addition, modernization of existing aircraft fleet, and development of advanced aircraft computers will further boost for the aircraft computer market.
Impact of COVID-19 on Aircraft Computer
The outbreak of COVID-19 has had a negative impact on the Aircraft Computer Market. Due to the COVID-19 condition, the manufacturing rate of industries across the world has been hindered owing to the declared lockdowns and government restrictions on public gatherings. The demand for aircraft computers is hit due to the cancellation of a large number of flights across the globe to curb the transmission of the virus. Travel constraints may lead to termination of airplane order in the near future which may distress the aircraft manufacturing companies and thereby aircraft computers. Demand for spare parts is also down since there is no requirement as many airlines’ business has been closed due to COVID-19 pandemic.
Fixed-Wing Aircraft Segment, Dominate the Market in 2020
The fixed-wing aircraft segment made huge revenue in 2020 and growing its prominence during the forecast period, owing to the growing demand for commercial and military fixed-wing aircraft. The commercial fixed-wing aircraft market is anticipated to upsurge due to the rising air passenger traffic.
North America Region is Leading in the Global Market Place
North America is likely to have a huge demand in the forecast period. The growth is accredited to the existence of foremost aircraft component manufacturers in the U.S. Global market players with their headquarters in the Northrop Grumman, United Technologies, the U.S. encompass, Curtiss and Wright Rockwell Collins. An important focus of the government and defense organizations to transform & upgrade their current military aircraft and incorporate them with modern technologies is letting the country spend widely on defense vertical, driving the market.
List of the Key Players Profiled in the Market Include:
• Bae Systems Plc
• Cobham Limited
• Collins Aerospace
• Curtiss-Wright Corporation
• Esterline Technologies
• Garmin Ltd.
• Ge Aviation (General Electric Company)
• General Dynamics Mission Systems, Inc.
• Honeywell International Inc.
• Kontron Sandt Ag
• Saab Ab
• Safran Sa
• Thales Sa
List of the Regions/Countries Profiled in the Market Include:
• Rest of Europe
• New Zealand
• Rest of Asia Pacific
• Saudi Arabia
• Rest of Middle East
• Rest of Latin America
Rest of the World (RoW)
• South Africa
Read the full report: https://www.reportlinker.com/p06127680/?utm_source=GNW
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