Portland, OR, Aug. 04, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global aircraft interface device market was pegged at $163.84 million in 2020 and is estimated to hit $368.9 million by 2030, registering a CAGR of 9.3% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
The fact that aircraft interface device enhances the performance of electronic flight bag (EFB) applications and reinforces the important safety features drives the growth of the aircraft interface device market. On the other hand, issues relating to the certification from regulatory bodies and rise in vulnerability of flight systems and electric flight bags (EFBs) impede the growth to some extent. However, benefits associated with advanced in-flight entertainment services and increase in demand for situational awareness are expected to pave the way for lucrative opportunities in the industry.
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COVID-19 scenario-
- The outbreak of the pandemic led to strict lockdowns and banned domestic and international travel across the world, especially in the initial phase. This gave way to steep decrease in demand for air-travel and hindered the adoption of new technologies, into remodeling the aircraft technologies. This factor impacted the global aircraft interface device market negatively.
- Also, there have been delays in activities and initiatives regarding development of robust and innovative aircraft interface solutions across the world. Nevertheless, the global situation is getting better and the market is expected to revive soon.
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The global aircraft interface device market is analyzed across connectivity, fit, aircraft type, and region. Based on connectivity, the wireless segment accounted for more than three-fourths of the total market share in 2020, and is expected to rule the roost from 2021 to 2030. The same segment would also cite the fastest CAGR of 10.1% throughout the forecast period.
Based on fit, the retrofit segment contributed to more than two-thirds of the total market revenue in 2020, and is projected to lead the trail by 2030. The same segment would also exhibit the fastest CAGR of 10.2% during the forecast period.
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Based on region, the market across North America held the major share in 2020, garnering around one-third of the global market. The same region would also cite the fastest CAGR of 10.9% from 2021 to 2030. The other two provinces discussed in the report include Asia-Pacific, Europe and LAMEA.
The leading market players analyzed in the global aircraft interface device market report include Astronics Corporation, Collins Aerospace, Elbit Systems Ltd., Skytrac Systems Ltd., Honeywell International Inc., The Boeing Company, SCI Technology, Inc., Anuvu, Teledyne Controls LLC, and Thales Group. These market players have incorporated different strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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