(I-BusinessNews.Com, October 08, 2021 ) The Connected Aircraft Market is forecast to reach $8.8 billion by 2026, growing at a CAGR of 12.9% from 2021 to 2026. The Aircraft Market is estimated to witness sustainable growth over the forecast period rapidly due to growing demand of transportation, military utilities and to avail paramedic facilities and other private usages. Replacement of aging commercial aircrafts and procurement of new generation commercial aircrafts with new technologies to acquire leading position in the market are some of the main factors which are driving the growth of aircraft market. The key trends are likely to impact the aircraft market is the Corona virus pandemic which has caused unprecedented levels of devastation to the workers as well as business around the world. The decrease in the number of passengers on-board has significantly decreased the market revenue especially in commercial basis. Fuel price remains to be the biggest concern faced by the aircraft market in the modern world. The high costs have led to many aircrafts imposing fuel surcharges on customers. This is leading to the adoption of various technologies including flight management, fuel monitoring, data management systems and aircraft condition monitoring systems to enable better fuel consumption. Apart from this, the improved aircraft communication offers especially with air traffic management which is another benefit driving the market growth.
Connected Aircraft Market Segment Analysis – By Aircraft Type
Heavy aircrafts dominated the connected Aircraft Market with a share of 73% in 2020, as it mainly comprises the majority of commercial aircrafts and military aircrafts for transporting goods as well as passengers in huge amount. Sensors, of many different types, which gather data of relevance to military operations is one of the recent upgrades in Military Aircrafts. Heavy aircrafts are in huge demand for commercial transportation because of their high MTOW (Maximum take-off weight) which boosts the market worldwide. The fast-growing countries such as India, China is generating more demand for heavy aircraft which in over time will shift the distribution of the global fleet in Asia-Pacific.
Connected Aircraft Market Segment Analysis – By Application
Connected Aircraft Market Segment Analysis – By Geography
A. Cockpit Lighting Market
B. Aircraft Lighting Systems Market
https://www.industryarc.com/Report/10619/aircraft-lighting-systems-market.html