Global commercial aircraft avionics systems market: 4.1% CAGR growth forecast between 2012-16
Global Commercial Aircraft Avionics Systems Market 2012-2016 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-26 08:21:04
The Global Commercial Aircrafts Avionics market is to grow at a CAGR of 4.12 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for aircraft in the APAC region. The Global Commercial Aircrafts Avionics market has also been witnessing the increase in demand for low-maintenance avionics systems. However, the increase in raw material prices could pose a challenge to the growth of this market.
In 2012, the overall MRO cost in the Aviation industry was US$49.6 billion. Since airlines have to bear huge MRO costs for maintaining their aircraft every year, most airlines are trying to operate low-maintenance aircraft, which will help reduce the MRO costs. Hence, they are increasingly opting for low-maintenance avionics systems as this will help reduce the operating cost of these systems.
One of the major drivers in this market is the increasing demand for aircraft in the APAC region. Owing to the advent of the no-frills business model, the demand for new aircraft has increased in the APAC region.
One of the major challenges in this market is the increase in raw material prices. The rise in raw material prices has resulted in pricing pressure for the manufacturers of aircraft avionics systems, which are then forced to pass on the increased cost to the customers.
The key vendors dominating this market space are Honeywell International Inc., Panasonic Avionics Corp., Rockwell Collins Inc., and Thales SA.
Other vendors are BAE Systems, Inc., Becker Avionics Int., DAC International, Inc., Esterline Technologies Corp., GE Aviation, L-3 Communications Avionics Systems Inc., LX Avionics Ltd., Saab AB (publ), Samtel Avionics & Defence Systems, Shadin Avionics LP, Southern Avionics Co., and Universal Systems Avionics Corp.
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