Sep 5, 2022   SOURCE: BusinessWire

Global Aircraft Computers Market Forecast to 2028 - Scheduled Future Aircraft Deliveries and increased Popularity of Connected Electronic Modules Presents Opportunities - ResearchAndMarkets.com

The "Aircraft Computers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component, Type, Platform, and Fit Type" report has been added to ResearchAndMarkets.com's offering.

The Aircraft Computers market size is projected to reach to US$ 7,140.12 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2022 to 2028.

The aircraft computers market ecosystem is evolving. Its stakeholders are component suppliers, aircraft computer manufacturers, and end users. Major players occupy places in the second node of the market ecosystem. Component manufacturers provide actuators, sensors, control systems, and many more things to different product manufacturers, who utilize it to produce the final product, which is then supplied to aircraft manufacturers, MRO vendors, commercial airlines, military forces, and business jets or helicopter owners.

The pipeline of backlogs of aircraft, along with the presence of a large number of aircraft OEMs, is likely to favor the growth of the aircraft computers market in North America in the coming years. Escalating demand for aircraft computers in unmanned aerial vehicles (UAVs) is another factor supporting the aircraft computers market growth in this region.

As per the data published in 2019 in the Boeing Commercial Market Outlook report, APAC would account for ~40% of all new commercial airplane deliveries over the next 20 years. An increase in demand for air cargo in the region is likely to require more than 1,000 dedicated freighters in the years to come. Passenger-to-freighter airplane conversions will make up two-thirds of these freighters. Further, according to the projections of Boeing, the demand for aviation services in APAC will expand by 5.1%, costing US$ 3,480 billion in total. Thus, the flourishing aviation industry in APAC holds significant growth potential for the aircraft computers market.

As per major charter service providers in Europe, aviation traffic increased by ~20-30% in 2020 compared to 2019. In response to such strong demand, airlines in the region are focusing on expanding their fleets to meet the growing demand. In July 2021, Flexjet, a part of the Directional Aviation family, received an Air Operator Certificate (AOC) for Malta as part of its expansion in Europe. The aircraft operator increased its fleet in Europe by 40% in the first half of 2021. Thus, such expansion strategies coupled with new advancements in computer technology by integrating virtual reality and artificial intelligence, accelerating the demand for new aircraft and propelling the aircraft computers market size.

Market Dynamics

Drivers

  • Increasing Number of Aircraft Deliveries
  • Modernization of Existing Aircraft Fleets

Restraints

  • Growing Risk of Cyber-Attacks

Opportunities

  • Scheduled Future Aircraft Deliveries and increased Popularity of Connected Electronic Modules

Future Trends

  • Deployment of Inflight Entertainment Systems

Companies Mentioned

  • BAE Systems
  • Garmin Ltd.
  • General Electric
  • General Dynamics Mission Systems, Inc.
  • Honeywell International Inc.
  • Lockheed Martin Corporation
  • Raytheon Technologies
  • SAAB AB
  • Safran Group
  • Thales Group

For more information about this report visit https://www.researchandmarkets.com/r/j03aly