Friday, December 4, 2015
New Aircraft, Systems Drive Next Generation Avionics Market
[Avionics Today 12-04-2015] The global commercial aircraft next generation avionics market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 3.7 percent between 2014 and 2019, according to a new report by Research and Markets. The growth is driven in part by the introduction of A320neo, A350XWB, and Boeing 737max, which have provided for upgrades of many existing fleets as airlines look to adopt the latest technologies incorporated in these new aircraft. Also, development of light-weight avionics has led to the achievement of optimum payload to range ratio.
According to the report, the growing global air traffic has raised concerns for aircraft manufacturers to provide safety and comfort to its customers, which has resulted in a rise in demand for avionics systems. These systems offer advanced computing, which helps in efficient flight management.
Further, the report states that new-generation aircraft are equipped with latest systems such as In-Flight Entertainment (IFE) systems and other avionics systems. These systems are prone to hacking, which acts as a challenge to the market.