PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269741
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269741
Global Air Data Systems Market is valued at approximately USD 763.05 million in 2021 and is anticipated to grow with a healthy growth rate of more than 5.65% over the forecast period 2022-2029. Air data systems are an essential part of any aircraft, providing the pilots with critical information about the aircraft's speed, altitude, and other important flight parameters. The Air Data Systems market is expanding because of factors such as a rise in the number of aircraft orders and a growing upgrade of aircraft with the latest technology.
In modern aircraft, air data systems may also be integrated with other onboard systems, such as autopilot and flight management systems, to provide more advanced capabilities such as automated flight control and navigation. Its prevalence has progressively increased during the last few decades. According to Statista, in 2021, Airbus took gross orders for 909 aircraft. This compares to 771 gross orders received by Boeing, a twofold increase compared to 2020. Furthermore, in 2020, Ryanair was Boeing's largest customer with 75 aircraft orders. After the Boeing MAX aircraft was certified, the airline updated its order book and made a purchase order for 75 737 MAX, increasing its total order from 135 to 210 aircraft. Another important component driving space is an upgrade of aircraft with the latest technology. In 2023, China had an estimated aircraft strength of about 3.2 thousand, followed by India with an estimated strength of nearly 2.2 thousand. Comparatively, it was also estimated that Bhutan had two aircraft in 2023. In addition, in 2020, there were about 5,882 aircraft in the U.S. commercial aircraft fleet. Also, the growing demand for large military UAVs and technological advancements in the fields of the Internet of Things would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Air Data Systems stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Air Data Systems Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key market players and rising investment in aircraft technology. According to Statista, in 2019, In the North American flight data monitoring market, the United States accounted for more than $1 billion. In that same year, the global flight data monitoring market was worth more than USD 3.8 billion. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing air traffic and increasing procurement of commercial aircraft in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable