Monday, May 22, 2017

Global Aircraft Interface Device Industry Production: 2017 Analysis & Its Market Insights

Increase need for situational awareness and increase in demand for real-time analytics are key factors expected to drive the growth of the market. The aircraft interface device market is projected to grow from USD 115.9 Million in 2016 to USD 230.8 Million by 2021, at a CAGR of 14.76% during the forecast period.

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Based on aircraft type, the aircraft interface device market has been segmented into narrow body aircraft, wide body aircraft, very large aircraft, regional transport aircraft, business jet aircraft, military rotary wing aircraft, and fighter aircraft. The narrow body aircraft segment is estimated to dominate the market in 2016.

According to Boeing’s Current Market Outlook 2016, the global fleet size of narrow body aircraft was 14,870, which is anticipated to reach 32,280 aircraft by 2035. Asia and North America have the largest fleet of narrow body aircraft, with 4,540 and 4,010 aircraft respectively. Increase in demand for narrow body aircraft globally is driving the market.

The aircraft interface market has been segmented and analyzed, based on fit, into retrofit and linefit. The retrofit segment is estimated to dominate the overall aircraft interface device market, owing to the increased need for fully connected aircraft to reduce operational costs and the modernization of various aircraft by airliners to install advanced systems.

The geographical analysis of the market includes regions, such as North America, Europe, Asia-Pacific, Middle East, and rest of the world. North America is estimated to lead the global aircraft interface device market in 2016, owing to the presence of major aircraft manufacturers, such as Boeing (U.S.), Bombardier (Canada), Lockheed Martin (U.S.), Bell Helicopter (U.S.), and Sikorsky Aircraft (U.S.) in the region. These manufacturers help generate demand for aircraft interface device. Airlines also playing significant role in generating demand for AID through retrofit.

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