New York, May 20, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Aircraft Computers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Hardware and Software), Type (Flight Controls, Utility Controls, Engine Controls, Mission Computers, and Flight Management Computers), Platform [Fixed Wing Aircraft, Rotary Wing Aircraft, and Unmanned Aerial Vehicles (UAV)], and Fit Type (Line Fit and Retrofit)”, the global aircraft computers market growth is driven by the rising global aircraft fleet size, increasing production of different types of commercial and military aircraft along with general aviation jets, the modernization of existing older aircraft fleet, the increasing demand for an in-flight entertainment experience, surge in aircraft renewals and aircraft deliveries. In 2020, North America led the market with a substantial revenue share, followed by APAC.
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| Report Coverage | Details |
| Market Size Value in | US$ 4.90 Billion in 2021 |
| Market Size Value by | US$ 7.14 Billion by 2028 |
| Growth rate | CAGR of 5.8% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 192 |
| No. Tables | 111 |
| No. of Charts & Figures | 87 |
| Historical data available | Yes |
| Segments covered | Component, Type, Platform, and Fit Type |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Aircraft Computers Market: Competitive Landscape and Key Developments
BAE Systems; Garmin Ltd., General Electric, General Dynamics Mission Systems, Inc., Honeywell International Inc., Lockheed Martin Corporation, Raytheon Technologies, SAAB AB, Safran Group, and Thales Group are some of the key aircraft computers market players profiled in the report. In addition to these players, several other key market players were studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The aircraft computers market report provides detailed market insights, which helps the key players strategize the growth in the coming years.
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In February 2022, BAE Systems delivered its 3,000th vehicle management computer (VMC) and 1,000th active inceptor system to Lockheed Martin for the F-35 Lightning II aircraft, marking two important platform manufacturing milestones. The VMC and AIS are flight essential technologies that enable each F-35 fighter to operate safely and reliably in difficult circumstances, reducing the pilot burden and increasing mission effectiveness.
North America holds the largest market share in the global aircraft computers market owing to the presence of various military and commercial aircraft manufacturers along with significant rise in defense budget across North American countries. The growth of the aircraft computers market in North America is attributed to the presence of a large number of aircraft manufacturers, such as Boeing; Airbus; Lockheed Martin Corporation; Raytheon Technologies Corporation and among other manufacturers. For instance, in 2019, the production of new aircraft will support the growth of aircraft computers market. In 2020 Delta Airlines announced its partnership with IBM for its quantum computing. In addition, in 2019, Delta Airlines placed an order of 95 units of A220 aircraft, out of which 12 aircraft were supplied by May 2020, and the rest are scheduled to be delivered by the end of 2023. Hence, the increasing number of orders and partnerships is propelling the growth of the aircraft computers market in this region.
Major factors driving the growth of the aircraft computers market are the increasing number of aircraft deliveries and growing initiatives for the modernization of existing aircraft fleets. Modernizing present fleets helps enhance their sustainability by reducing fuel consumption and carbon emissions and improving flight performance. For instance, in May 2021, Lufthansa Group modernized its fleet and purchased 10 highly efficient long-haul aircraft to improve efficiency and reduce operating costs.
The modernization of such advanced systems emerges the need for technologically viable aircraft computer systems, further propelling the demand for aircraft computers, which augments the aircraft computers market size during the forecast period.
The increasing number of government initiatives for strengthening the aerospace industry and meeting the demands of traveling passengers is anticipated to procure more aircraft during the forecast period. Thus, the increasing number of aircraft deliveries is driving the market growth over the forecast period. As per Boeing’s estimation in 2021, the company had planned to produce 25,680 new single-aisle airplanes with a market value of US$ 4.4 trillion, whereas Bombardier forecasts 22,000 business aircraft deliveries over the next 20 years. In addition, the world’s passenger and freighter fleets are likely to increase to 42,180 by 2041 from 20,910 aircraft, with the addition of 36,770 new airplanes; this expansion in the fleet size is valued at US$ 5.2 trillion. Thus, the growing number of aircraft deliveries is augmenting the demand for aircraft production which in turn drives the demand for aircraft computers, that helps drive the market growth over the forecast period.
Governments of the US, China, India, Russia, Japan, and Saudi Arabia, among others, are increasing their defense budgets yearly. In May 2021, Dassault Aviation was awarded a contract worth US$ 4.5 billion to provide 30 Rafale fighter jets to Egypt. In 2021, Argentine Air Force has announced the procurement of aircraft such as IA 63, Mi-171, KC-390, and T-6C+. The MiG-29 aircraft were fitted with the more advanced family of onboard computers. Thus, a rise in the defense budget is augmenting the need for military aircrafts across the globe which is underlining the need for aircraft computers, which is driving the aircraft computers market growth.
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Some of the key aircraft computer manufacturers in North America are Honeywell, Collins Aerospace, and Curtiss-Wright. Honeywell provides its Pegasus flight management system to Airbus 320 and Airbus 330. APAC is the fastest-growing region in this market. As per the Boeing report, 17,645 commercial aircraft would be delivered to APAC countries during 2021–2040. In addition, As per the Airbus statistics, airlines in APAC are likely to require more than 17,600 new aircraft by 2040, and ~30% of these new aircraft will be replacing older aircraft. Thus, such upcoming demand for military as well as commercial aircrafts from various countries owing to rise in passenger traffic and increase in defense budget is fueling the market dynamics over the coming years. The aircraft computers market analysis helps to understand the upcoming trends, new technologies, and macro and micro factors that are expected to influence the market growth in coming years
Aircraft Computers Market: By Type Overview
Based on type, the aircraft computers market is segmented into flight controls, utility & IFE systems, engine controls, and flight management computers. The flight controls segment accounted for the highest share in the global aircraft computers market in 2020. Flight control computers are used in various aircraft, such as 3 computers for flight control in military aircraft, 5 major computers in A320, and 2 flight control computers in every 737 Max.
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