OREGAON, PORTLAND, UNITED STATES, April 12, 2023 /EINPresswire.com/ — According to the report published by Allied Market Research, the global military aircraft communication avionics market generated $23.9 billion in 2020, and is expected to reach $35.0 billion by 2030, witnessing a CAGR of 4.0% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in geopolitical conflicts worldwide, rise in defense budgets, and demand to modernize communication avionics of existing aircraft fleet drive the growth of the global military aircraft communication avionics market. However, the shortage in supply of electronics chips restrains the market growth. On the other hand, rise in investments in the semiconductor industry by governments and private companies present new opportunities in the coming years.
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Based on aircraft type, the combat aircraft contributed to the highest share in 2020, accounting for more than one-third of the total market share, and is estimated to maintain its dominant share by 2030. Moreover, this segment is projected to manifest the highest CAGR of 4.8% from 2021 to 2030. The report also analyzes the segments including special mission aircraft, tanker and transport aircraft, combat helicopters, and training aircraft and helicopters.
Based on sales channel, the aftermarket segment held the largest share in 2020, accounting for around half of the global military aircraft communication avionics market, and is projected to continue its lead position during the forecast period. Moreover, this segment is estimated to witness the fastest CAGR of 4.1% during the forecast period. The research also discusses the OEM segment.
Based on region, Asia-Pacific accounted for the highest share in 2020, contributing to more than one-fourth of the total market share, and is projected to continue its leadership status by 2030. Moreover, this region is projected to portray the fastest CAGR of 4.9% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
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KEY FINDINGS OF THE STUDY
By aircraft type, the combat aircraft segment leads the market during the forecast period.
By component, the antenna segment leads the market during the forecast period.
By sales channel, the aftermarket segment is expected to grow at lucrative growth rate during the forecast period (2021-2030).
By solution, the SATCOM segment leads the market during the forecast period.
Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
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Leading players of the global military aircraft communication avionics market analyzed in the research include Appareo, Aspen Avionics, Avidyne Corporation, BAE System, Boeing, Cobham Limited, Honeywell International Inc., L3Harris Technologies Inc, Raytheon Technologies Corporation, and Thales Group.
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Article originally published on www.einpresswire.com as Trends for Advanced Airborne Communication Solutions