Published Date : Jan 03, 2017
The global commercial avionics systems market is growing at a fast pace as there is a need for systems that calculate real time data for the aviation sector. The growth of the aviation industry, especially in the developed nations of Europe and North America is primarily behind the booming commercial avionics systems market. Technological advancements in the aviation market such as introduction of modern glass cockpit and improved in-flight entertainment systems are expected to boost the commercial avionics systems market. With an increase in the adoption of these systems in the next-generation aircraft and a surge in aircraft order and deliveries, the commercial avionics systems market will witness a continued growth in the coming years.
High Cost of System Maintenance to Pose a Challenge
While the growth of the market is expected to continue at a healthy pace, there are certain factors, which are expected to hinder the growth of the global commercial avionics systems market. For instance, the high cost of maintaining commercial avionics systems is expected to deter players from engaging in larger activities. In addition to this, aviation vehicles are increasingly at a risk to online hacks owing to the use of modern commercial avionics systems. Moreover, regulatory issues are also obstructing the growth of the market. On a positive note however, the global commercial avionics systems market is expected to benefit from the emergence of new flight management technologies, which are being introduced by players after consistent efforts and investments in research and development.
Innovation of Products to Remain Key Focus of Players in Market
Companies in the global commercial avionics market are investing extensively in research and development in order to gain a competitive edge above the rest. This is helping them to come up with newer product developments. Players are observed to participate in long term contracts to strengthen their hold in the market. Geographical expansion is yet another strategy adopted by players.