(PharmaNewsWire.Com, September 15, 2022 ) The report on the aircraft communication system market provides a detailed trend analysis from 2018 to 2027. It discusses current market drivers, restraints, challenges, and opportunities as well as industry and technological trends that influence the growth of the market.
The aircraft communication system market size is projected to grow from USD 8.2 billion in 2022 to USD 12.8 billion by 2027, at a CAGR of 9.2% from 2022 to 2027. The market is driven by factors such as the increasing adoption rate of software defined radio for satellite communications and increasing need to modernize and replace aircraft communication systems.
“Based on platform, the fixed-wing segment of the aircraft communication system market accounts for the largest share in 2022”
Based on Platform, the fixed wing segment is projected to grow from USD 6,551 million in 2022 to USD 9,517 million by 2027, at a CAGR of 7.8% during the forecast period. Increasing air passenger traffic and replacement of aging aircraft are factors expected to contribute to the growth of the commercial aircraft communication system market during the forecast period.
“Based on fit, the Line Fit segment of the aircraft communication system market is projected to grow at a higher CAGR during the forecast period“
Based on fit, the Line Fit segment of the aircraft communication system market is expected to grow at a USD 6,563 million in 2022 to USD 10,553 million in 2027 at a CAGR 10.0% during the forecast period. This segment is driven by the development of next generation aircraft.
“Based on Component, the Communication Management Unit segment of the market is projected to grow at the highest CAGR during the forecast period”
Based on component, the Communication Management Unit segment of the aircraft communication system market is expected to grow at a USD 663 million in 2022 to USD 1,147 million in 2027 at a CAGR 11.6% during the forecast period. Need to enhance air to ground communication is driving this communication management unit segment in aircraft communication system market.
“Based on Region, the Asia Pacific segment is expected to grow at the highest CAGR during the forecast period”
Based on Region, the Asia Pacific segment of the aircraft communication system market is expected to grow at a USD 878 million in 2022 to USD 1,624 million in 2027 at a CAGR 13.1% during the forecast period. The market in this region has been studied for China, India, Japan, South Korea, Australia, and Rest of Asia Pacific which includes Singapore and New Zealand. The increased defense spending and increasing demand for new aircrafts such as eVTOLs are driving the Asia Pacific segment in aircraft communication system market.
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