Overview of the global light electric aircraft market
Technavio’s market research analyst predicts the global light electric aircraft market to grow at a CAGR of almost 4% by 2020. The global light electric aircraft market is witnessing stable growth and is expected to grow steadily due to massive investments made in enhancing improving battery capacities and in solar-powered aircraft. One of the latest trends gaining traction in this market is the growing use of fuel cell-powered propulsion. Fuel cells are considered an effective energy-on-demand resource that offers an attractive combination of financial viability, versatility, and energy delivery in an aircraft. The major advantage of fuel cell systems is their capability to be driven by any hydrocarbon. With the increasing adoption of fuel cells as backup power modules, further innovations are likely to take place in aircraft in terms of membranes, electrodes, and electrolytes, leading to more economical light electric aircraft designs.
Geographically, EMEA is anticipated to be the fastest-growing region in the global market during the forecast period and will occupy the largest market share. Technavio’s market study indicate intense research activities are being carried out in Europe in the areas of electric motors, solar power, and biofuels with the purpose to meet stringent public regulations and minimize carbon emissions. Recently, a leading manufacturer, Airbus announced its plans to start the manufacturing of electric-powered planes from 2018. It is primarily targeting the flight schools and civil aviation communities with its E-Fan airplanes.
Competitive landscape and key vendors
Market outlook of the commercial aircraft autopilot market
The global commercial aircraft autopilot system market was valued at over $450 million in 2014. The increase in aircraft deliveries and the increase in the demand for automation and improved safety standards are some of the key drivers for this market.
On account of the consistent rise in air travel, the report predicts the market demand for aircraft replacements to reach nearly 38,000 units in the next 20 years. Airline companies are expected to make huge investments in the latest technologies, including autopilot systems, and it is expected to help the market grow steadily during the forecast period.
Segmentation of the commercial autopilot market by components
- Computer system
The international air transport association (IATA) is projecting around 16 billion passengers by 2050, compared to 3.3 billion in 2014. To accommodate this rise in air traffic, organizations such as federal aviation administration (FAA) have framed strict regulations to ensure the safety of aircrafts with real-time data on board. The GPS segment of the market is expected to register close to $65 million worth of revenues by 2019.
Market shares by the leading regions of the commercial autopilot market
According to Airbus, emerging regions such as APAC, Latin America, Africa, and Eastern Europe, witnessed the demand for air travel grow six times more than the developed economies of North America and Western Europe, in 2014.
Overview of the leading vendors of the commercial autopilot market
Global market outlook for the commercial aircraft PMA market
The aircraft aftermarket parts and services market offers a higher profit margin for the leading vendors. As a result, many OEMs such as Pratt & Whitney, have entered the PMA market to provide PMA parts and services.
Globally, the number of aircrafts in service has witnessed a significant increase over the last decade. There were close to 20,910 commercial aircrafts in service in 2013, and it is likely to reach roughly 42,000 aircrafts by 2033. The situation has created the need for a reliable supply chain of aftermarket parts for MRO works. To reduce aircraft on ground (AOG) situations, and to meet future demands, airlines and MRO service providers are likely to invest more in cost-effective PMA parts during the forecast period.
Market segmentation of the commercial aircraft PMA market by parts
- Engine parts
- Airframe parts
- Other components
Though engine parts emerged as the largest contributor of the commercial aircraft PMA market, its share is likely to witness a decline by 2019. However, the market share for the airframes segment is expected to rise during the forecast period.
Trends involving key vendors of Commercial Aircraft PMA
The market is witnessing the entry of many online platforms that serve the aircraft aftermarket parts market. These e-platforms are helping the industry to thrive by resolving spare parts related issues such as ease of availability.
This ease of conducting business online and obtaining spare parts through a global network is encouraging companies to employ such e-platforms to develop a global network. Many new companies are expected to start using aircraft part locator services in the coming years
About Commercial Aircraft Avionics Systems
Avionics are electronics systems used in aircraft for communication, navigation, and various other flight critical applications. Avionics are one of the most expensive and highly critical components in modern aircraft. Modern avionics also aid in improved navigation and routing, provide enhanced situational awareness to pilots, and improve the ATM process.
Technavio's analysts forecast the global commercial aircraft avionics system market to grow at a AGR of 4.90% during the period 2014-2019.
Covered in this Report
This report covers the current scenario and growth prospects of the global commercial aircraft avionics systems market for the period 2015-2019. It provides a global overview, market shares, market segmentation by aircraft type, and growth prospects by region (APAC, EMEA, and the Americas). It also presents the market landscape and a corresponding analysis of the prominent vendors in the market. In addition, it discusses the major drivers influencing the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.
Technavio's report, Global Commercial Aircraft Avionics Systems Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers EMEA, the Americas, and APAC. The report also includes a discussion of the key vendors operating in this market.
• Panasonic Avionics
• Rockwell Collins
Other Prominent Vendors
• Elbit Systems
• GE Aviation
• L-3 Communications
About Business Jet
A business jet is an aircraft mainly designed to transport a small number of passengers at a premium cost compared to a commercial airliner. Business jets are mostly owned and operated by corporations, wealthy people, government agencies, or commercial business jet operators that provide air charter or air taxi services. There also exist jet card program or fractional ownership schemes that allow customers to use the benefit of business jet travel without the need for full ownership of business jets.
TechNavio's analysts forecast the Global Business Jet market to grow at CAGRs of 6.80 percent and 1.79 percent in terms of revenue and aircraft delivery, respectively, during the period 2014-2019.
Covered in this Report
This report covers the current scenario and the growth prospects of the Global Business Jet market for the period 2015-2019. The report provides the segmentation of the market by aircraft type and by region.
TechNavio's report, the Global Business Jet Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the APAC and EMEA regions. The report includes a discussion of the key vendors operating in this market.
• Dassault Aviation
Other Prominent Vendors
• Diamond Jet
• Eclipse Aerospace
• Honda Aircraft Company
• Demand for Business Jets
• For a full, detailed list, view our report
• Environmental Policies and Regulations
• For a full,
About Commercial Aircraft PMA
An aircraft PMA is an approved replacement for the original part provided by the OEM, conforming to FAA design and produced under an FAA approved production process. Since the 1950s, the FAA has been granting PMA to third-party manufacturers to produce replacement parts for aircraft. Without these PMAs, aircraft parts would be exclusively designed and manufactured by OEMs, giving them a monopoly in the Aircraft Aftermarket Parts market. PMA parts are now being manufactured for almost every ATA chapter, a common referencing standard for aircraft parts, on an aircraft.
TechNavio's analysts forecast the Global Commercial Aircraft PMA market to grow at a CAGR of 7.96 percent over the period 2014-2019.
Covered in this Report
This report covers the current scenario and growth prospects of the Global Commercial Aircraft PMA market for the period 2015-2019. It presents a global overview, market shares, and growth prospects by region (the Americas, and the EMEA and APAC regions). The report also provides the market landscape and a corresponding analysis of the prominent vendors in the market. In addition, the report discusses the major drivers influencing the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends emerging in the market.
TechNavio's report, Global Commercial Aircraft PMA Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the APAC and EMEA regions. The report also includes a discussion of the key vendors operating in this market.
• Parker Hannifin
• Pratt & Whitney
• Precision Castparts
• Rockwell Collins
The positive growth in the aerospace industry is largely due to rising passenger travel and the development of next-generation fuel-efficient aircraft. As per 2015 Global aerospace & defense outlook, the industry is predicted to grow about 3%.
There has been a steady increase in the number of aircraft in service and in new orders for aircraft in recent years. As of June 2014, Boeing and Airbus combined had built over 10,500 aircraft in operation. Considering current manufacturing capabilities, the existing aircraft order backlog itself will stimulate the aircraft manufacturing industry and boost the outlook for respective original equipment manufacturers and suppliers for the next few years.