Commercial Avionics Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021
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- Date Submitted: 08/23/2016 04:16 AM
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The growing focus of airline companies to make their operations efficient, safe, and reliant has created substantial demand for real time data gathering in the aviation industry. The growing need to collect data to improve problem-solving capabilities and monitoring aircraft maintenance are expected to propel the adoption of commercial avionics systems market. This market is also being driven by in-flight entertainment options being offered by the aviation industry to customers as a value-added service. This service allows users to connect their gadgets to the in-flight intranet to stream a set amount of multimedia content.
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http://www.transparencymarketresearch.com/commercial-avionics-systems-market.html
These strong market drivers are expected to create an opportunity worth US$29.27 bn by 2021 for the global commercial avionics systems market. The market stood at US$23.40 bn in 2014 and is expected to rise at a CAGR of 3.1% between 2015 and 2021.
The rising use of glass cockpits is also expected to create several growth opportunities for this market. These cockpits allow pilots to focus on relevant information and thus enable ease of operation. The near future will also witness the incorporation of advanced communication systems, GPS receivers, and touch screens, which is expected to have a positive impact on the adoption of commercial avionics systems.
North America Leads Global Market Thanks to High Acceptance of Modern Technology and Improving Economy
North America held a leading share of 42.5% in the global market in 2014 and is expected to maintain this stance all through 2021 as it will win an estimated share of 41.9%. The rise of the commercial avionics systems market in North America will be influenced by the ongoing technological developments and the improving economic conditions in the U.S.
The initiation of programs such as NextGen Avionics by The Federal Aviation Administration (F.A.A) in the U.S. is also...
Browse the Full Report at :
http://www.transparencymarketresearch.com/commercial-avionics-systems-market.html
These strong market drivers are expected to create an opportunity worth US$29.27 bn by 2021 for the global commercial avionics systems market. The market stood at US$23.40 bn in 2014 and is expected to rise at a CAGR of 3.1% between 2015 and 2021.
The rising use of glass cockpits is also expected to create several growth opportunities for this market. These cockpits allow pilots to focus on relevant information and thus enable ease of operation. The near future will also witness the incorporation of advanced communication systems, GPS receivers, and touch screens, which is expected to have a positive impact on the adoption of commercial avionics systems.
North America Leads Global Market Thanks to High Acceptance of Modern Technology and Improving Economy
North America held a leading share of 42.5% in the global market in 2014 and is expected to maintain this stance all through 2021 as it will win an estimated share of 41.9%. The rise of the commercial avionics systems market in North America will be influenced by the ongoing technological developments and the improving economic conditions in the U.S.
The initiation of programs such as NextGen Avionics by The Federal Aviation Administration (F.A.A) in the U.S. is also...