Military aircraft communication avionics market to reach $35,048.2 Mn in 2030 | Size, Share 2020-2030
WILMINGTON, DELAWARE, UNITED STATES, October 31, 2023 /EINPresswire.com/ — The military aircraft communication avionics industry holds a great potential backed by an increase in defense budget expenditure across the globe and advancements in communication technologies, supporting military applications. Major countries such as the U.S., China, Russia, and the UK are extensively increasing their military research and development budgets to integrate novel technologies in their existing aircraft fleet and to increase operational efficiency. With maturing web 3.0 and gradual integration of web 4.0, comprehensive, secure, and efficient communication channel has become the need of the hour. The satellite communication (SATCOM) segment is expected to witness maximum growth potential during the forecast period as they provide security beyond visual line of sight (BVLOS) communication capacities. For instance, in March 2020, the U.S. Space Force (USSF) launched the Advanced Extremely High-Frequency satellite (AEHF-6) to strengthen its military communication network.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭- https://www.alliedmarketresearch.com/military-aircraft-communication-avionics-market/purchase-options
According to a new report published by Allied Market Research, titled, “Military aircraft communication avionics Market,” The military aircraft communication avionics market size was valued at $23.9 billion in 2020, and is estimated to reach $35.0 billion by 2030, growing at a CAGR of 4.05% from 2021 to 2030.
Asia Pacific dominated the military aircraft communication avionics market in terms of growth, followed by North America, Europe, and LAMEA. The U.S. dominated the market share in 2020, whereas Spain is expected to grow at a significant rate in the market during the forecast timeframe.
In addition, the rise in geopolitical conflicts and limitations on trade and transport across the globe post-COVID-19 has allowed nations to focus on increasing their indigenous research, development, and manufacturing capabilities. In addition, scarcity of semiconductors across the globe, owing to rise in use of semiconductors on the commercial front is expected to have a notable impact on the military aircraft communication avionics industry. For instance, almost 75% of chip manufacturing across the globe is done in the Asia-Pacific, allowing the region to dominate the market. Geopolitical conflict between the U.S. and China to dominate tech segments is threatening the global supply chain, allowing nations to increase focus on indigenous capabilities. Governments and private companies across the U.S. are increasing investments within the semiconductor industry in pursuit to become a global manufacturing hub and gain international dominance.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬: https://www.alliedmarketresearch.com/request-sample/9700
By aircraft type, the market is categorized into combat aircraft, special mission aircraft, tanker & transport aircraft, combat helicopters, and training aircraft & helicopters. Depending on the component, the military aircraft communication avionics market is fragmented into Antenna, Transponder, Receiver, Transmitter, and Display & Processors. The sales channel segment will include original equipment manufacturer (OEM), and aftermarket. The solution segment is divided into satellite communication (SATCOM), very high frequency & ultra-high frequency (VHF & UHF), and high frequency & medium frequency (HF & MF).
Factors such as a rise in geopolitical conflicts across the globe, increase in defense budgets, and demand to modernize communication avionics of existing aircraft fleet to support growth of the military aircraft communication avionics market during the forecast period. Countries such as Russia, China, India, and Japan have increased their defense budget by 2.9%, 4.7%, 0.9%, and 7.3%, respectively in 2021, as compared to previous years. Rise in impact of global economies and electronic component supply chain at the global level has been enormous. Degrading global trade relations and restrictions placed by several nations over others have generated demand to diversify the supply chain at the regional level in the military communication avionics industry to ensure a continuous supply of critical components. Shortage in supply of electronics chips also impact the military aircraft communication avionics market. Rise in demand for consumer electronics induced by chips, coupled with trade restrictions due to COVID-19 has generated a global shortage of electronic chips. Hence, to address rise in market challenges, defense bodies are engaged in long-term agreements with companies, mitigating short-term challenges. For instance, Finland entered into an agreement with Lockheed Martin to acquire 64 F-35A Block 4 fighter aircraft along with weapons, communication systems, and required training. The program is expected to last till 2030 and the weapons procurement will be done by 2035, depending upon the availability of funds.
The Key players operating in the military aircraft communication avionics market report are Appareo, Aspen Avionics, Avidyne Corporation, BAE System, Boeing, Cobham Limited, Honeywell International Inc., L3Harris Technologies Inc, Raytheon Technologies Corporation, and Thales Group.
𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/9700
𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲
— By aircraft type, the combat aircraft segment leads the market during the forecast period.
— By component, the antenna segment leads the market during the forecast period.
— By sales channel, the aftermarket segment is expected to grow at lucrative growth rate during the forecast period (2021-2030).
— By solution, the SATCOM segment leads the market during the forecast period.
— Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.