Irving, TX (PRWEB) February 17, 2013
The global commercial aerospace avionics market is expected to reach $8.3 billion by 2020, with a moderate CAGR of 3.9% during the forecast period. Despite the adverse economic conditions that have prevailed, total industry sales grew during the last six years. In terms of dollar value, communication network and navigation is the largest segment in the commercial avionics market, followed by control systems, radar and surveillance, and display systems. North America holds the largest share of revenue, followed by Europe.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the different regional and industrial segments of the commercial aerospace avionics market and presents its findings in “Commercial Aerospace Avionics Market Analysis and Outlook 2013-2020.” The industry is highly regulated, especially regarding the safety of its products. The result is that the industry has particularly high entry barriers because of capital and regulatory requirements.
Lucintel's aerospace market report reflects that the industry faces a challenge from the long product development lead-time, which stymies capital circulation as it becomes fixed in a particular product. Avionics are costly products, requiring a huge capital commitment. As a result, until the delivery of the aircraft, that amount cannot be used for any other purpose. The commercial aerospace avionics market is highly technology driven. To develop new product with better technology and bring it back to the market requires a lengthy process.
Increasing population, urbanization, increasing disposable income, and traffic growth in the existing route network are increasing the demand for new aircraft because adding capacity is more efficient than adding frequency. The aircraft are upgraded with new avionics such as GPS systems, glass cockpits, and controls with touch screen panels are manufactured, which are expected to replace existing manual avionics.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, Merger & Acquisition and cost efficiency. To learn more, visit http://www.lucintel.com.
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