DUBLIN--(BUSINESS WIRE)--The "Aircraft Interface Device Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Platform, Connectivity, Fit Type, and Aircraft Type" report has been added to ResearchAndMarkets.com's offering.
The Aircraft Interface Device market is projected to reach US$ 354.10 million by 2028 from US$ 174.06 million in 2021; it is expected to grow at a CAGR of 11.5% from 2022 to 2028.
There has been significant growth in the commercial aviation industry in the past decade. The airlines in the developed and developing nations are ordering a high number of aircraft to meet the constantly rising air travel demand. Owing to the continuously growing disposable income among the global population, the need for air travel is also increasing rapidly. Commercial air traffic is anticipated to maintain a constant growth rate, despite various challenges, such as rising aviation fuel costs and technical faults causing accidents. These factors are propelling the growth of the aircraft interface device market.
As per the International Air Transport Association (IATA), the global commercial aviation passenger count in 2020 accounted for 1.8 billion, which is expected to rise to 7.8 billion by 2036. According to Boeing's commercial market output report, Asia Pacific is anticipated to be the highest revenue-generating region, with a contribution of 33% to the global passenger count in 2019, and it is expected to contribute up to 41% by 2040.
Additionally, the aviation industry is adopting advanced information technologies, which are anticipated to transform the decision-making capability of the industry and make the new implementations faster than before. The aircraft interface devices analysis through the European Federation of Biotechnology (EFB) uses thousands of distinct software algorithms to process radar data and raw flight plans from the ATC air traffic control system (ATC). Pertaining to these benefits, the aircraft interface device market is growing due to increase awareness related to the same.
The transition toward machine learning and increasing use of artificial intelligence to leverage big data is expected to provide the aircraft interface devices with technology to enhance their predictive analysis capabilities. Through these capabilities, the manufacturers are improving the usability of the cockpit EFB and replacing paper charts with computer screens and tablets in the cockpits.
The demand for advanced technology drives the airline industry and demands more integration of such techniques to get a smarter cockpit. The smarter cockpit helps provide better communication with ground support staff, including maintenance and dispatcher's personnel, for making better decisions associated with flight performance and weather avoidance for efficient operations and better fuel efficiency. These factors are further contributing to the growth of the aircraft interface device market.
Market Dynamics
Drivers
- Increasing Number of Aircraft Fleet Globally
- Stimulating Demand for Advanced Technologies across Aircraft Models
Restraints
- Susceptible to Cyber-Attacks
Opportunities
- Growing Demand for Wireless AIDs
Future Trends
- Increasing Number of Low-Cost Carriers
Companies Mentioned
- Boeing
- Collins Aerospace
- Honeywell International Inc.
- Teledyne Controls LLC.
- Thales Group
- Viasat, Inc.
- Anuvu.
- Astronics Corporation
- Carlisle Companies Incorporated
- SCI Technology, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ewuyhf
