Global commercial aircraft electrical systems market: 7% CAGR forecast between 2012-16
Global Commercial Aircraft Electrical Systems Market 2012-2016 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-04 14:45:04
The Global Commercial Aircraft Electrical Systems market is to grow at a CAGR of 6.97 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for aircrafts from the APAC region. The Global Commercial Aircraft Electrical Systems market has also been witnessing an increase in the demand for low-maintenance electrical systems. However, the increasing raw material prices could pose a challenge to the growth of this market.
In recent years, the demand for no-frills airlines has been increasing, especially in the APAC region. The cost-effective business model of no-frills airlines has increased the demand for new aircraft in the market. The major reason for the increased demand is that the no-frills business model airlines fly only on short-haul routes and do not provide specific services such as in-flight entertainment, catering, and beverages to the passengers on board. These airlines generally tap passengers who either use roads or railways as their main mode of transportation. The travel cost for no-frills airlines is almost the same as that of other modes of transportation, while saving time and effort for the traveler.
One of the major drivers in this market is the increasing demand for aircraft in the APAC region. As a result of 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 the raw material prices. The rise in the raw material prices has resulted in pricing pressure for the aircraft electrical systems manufacturers since they are forced to pass on the increased cost to the customers.
The key vendors dominating this space include Honeywell International Inc., Liebherr-International AG, Thales SA, and UTC Aerospace Systems.
Other vendors mentioned are Fairchild Control Corp. and Maggitt plc.
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