アビオニクス (航空電子機器) ・無線テストの世界市場：動向、予測、競合分析、成長機会
Avionics and Radio Test Market by Platform Type (Commercial Aircraft and Defense and Security), by Stage Type, by Product Type, by End-User Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025
|出版日||ページ情報||英文 242 Pages
|アビオニクス (航空電子機器) ・無線テストの世界市場：動向、予測、競合分析、成長機会 Avionics and Radio Test Market by Platform Type (Commercial Aircraft and Defense and Security), by Stage Type, by Product Type, by End-User Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025|
|出版日: 2019年11月29日||ページ情報: 英文 242 Pages||
当レポートでは、世界のアビオニクス (航空電子機器) ・無線テスト市場について調査分析し、市場構造、市場環境分析、市場動向と予測分析、市場セグメント動向と予測、競合情勢、魅力的な市場セグメント、新興動向、企業の戦略的成長機会、主要成功要因について、体系的な情報を提供しています。
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's avionics and radio test market realities and future possibilities for the forecast period of 2020 to 2025. The report segments and analyses the market in the most detailed and comprehensive manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of low-hanging fruits available as well as formulate growth strategies.
The aerospace and defense industry is one of the most critical end-user segments for the test and measurement market. The general trend in the industry is to have more technologically-capable & smaller platforms and military systems. Avionics and radio are the electronic systems which include communications, navigation, the display and management of multiple systems and sub-systems, fitted in an aircraft to perform individual functions. In civil aircraft, avionics are majorly powered by using 14- or 28-volt Direct Current (DC) electrical systems, whereas military and combat aircraft use Alternate Current (AC) systems operating at 400 Hz, 115 Volt AC. In order to avoid mishap due to failure or breakdown in any of the avionic equipment, it is required to have proper monitoring and test of the systems. The most important requirements regarding test equipment are the full capture of signals of greater bandwidth, wideband capabilities, and architecture alignment with multifunction antenna systems, more software content, and greater ease of use.
Avionics and radio systems continue to advance at a rapid pace in the aviation industry. The demand for advanced test solutions is driven by various factors such as high-speed and high-bandwidth avionics. With the increased complexity of avionics and radio systems in the aerospace and defense industry. Customers are facing challenges in the testing, validation, and verification of these modern systems. This trend is changing the face of the test equipment market as well as is accelerating the need for flexible and scalable test solutions. The increasing pace of technology change, system complexity, and changing standards and regulations are contributing significantly towards changing dynamics of the test equipment market. Analogously, built-in-test equipment (BITE) is used in commercial as well as military aircraft, which refers to fault management and diagnose the avionics and radio equipment built in the airborne system.
In recent years, the market is witnessing a gradual consolidation as major players are acquiring other players to strengthen their product portfolio and expand their geographical reach. For instance, in 2019, Astronics Corporation acquired Freedom Communication Technologies to strengthen its position in the radio test market. Similarly, in 2018; Viavi Solutions, Inc. acquired Cobham's AvComm (Advanced Communication and connectivity) business unit to diversify its operation into military, public safety, and avionics test markets.
The demand for test and measurement equipment in the aerospace industry has been vigorous over the past few years whose credit goes to the excellent organic growth of both civil as well as military aviation coupled with ongoing advancements in technologies, necessitating the importance to equipment. The aerospace & defense industry has been one of the biggest users of test and measurement equipment in which avionics and test equipment play the major role. It is estimated that the market for avionics and radio test is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 2.1 billion in 2025.
Based on the platform type, the market is segmented into commercial aircraft and defense and security. Commercial aircraft is expected to remain the larger segment of the market during the forecast period. Increasing deliveries of commercial and regional aircraft to support rising air passenger traffic, growing demand for fuel-efficient aircraft, and expanding aircraft fleet size are the key growth drivers of the segment's market. A320neo family, B787, and A350XWB would remain the growth engines of the market.
Boeing anticipated that there would be total deliveries of 44,040 commercial aircraft worth US$ 6.8 trillion in the global marketplace during 2019-2038. Asia-Pacific and North America would be the biggest demand generators with a combined share of 60.2% of the total commercial aircraft deliveries during 2019-2038. An expected healthy CAGR of 4.8% in air passenger traffic during 2019-2038 will chiefly drive the demand for commercial aircraft. This factor will create a sustainable demand for avionics and radio test equipment during the foreseen period.
Defense & Security is also estimated to generate a sizeable demand for test equipment in the coming five years. Increasing tension in different parts of the world, especially between the USA and China, is pushing countries to increase their defense budget to further solidify their defense capabilities. The USA, the world's largest military expenditure country, has been raising its military expenditure for the last two years after several years of decline. Other major economies including China, India, and South Korea are also raising their defense budget, which is positively imprinting the demand for test and measurement equipment.
Based on the product type, the market is segmented into avionics test, radio test, and synthetic test. Radio test is expected to remain the dominant segment during the forecast period. Radio test systems are majorly used to test military radio and private mobile radio in commercial aircraft. However, recent developments in the areas of synthetic test are likely to transform the present market scenario. It is expected that synthetic test systems will be used to test various applications of avionics and radio systems used in aircraft and helicopters.
In terms of region, North America is projected to remain the largest market for avionics and radio tests during the forecast period. The USA is the growth engine of the region's market and has one of the largest fleets of commercial and military aircraft in the world. Increasing defense budget from the past three years (2016-2018) coupled with increasing demand for F-35 and KC-46 Pegasus aircraft is the pith behind the growing demand for test and measurement equipment in the country. Mexico, a diminutive market in front of giant USA, is also estimated to grow at a healthy pace in the coming five years, propelled by higher proximities of the country to the USA. Aerospace companies are opening their plants in the country to leverage the country's business-friendly policies, high proximity to the USA, and low-cost labor.
Asia-Pacific is likely to witness the highest growth in the market during the forecast, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, increasing defense budget of key economies, opening of assembly plants of Boeing and Airbus, and upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ). The region owns the largest fleet of commercial aircraft for which there is a colossal requirement for test and measurement equipment.
The supply chain of this market comprises of avionics and radio test equipment suppliers, avionics and radio system manufacturers, distributors/part brokers, and end-users. The key players in the avionics and radio test market are Viavi Solutions, Inc., Tel-Instrument Electronics Corporation, Astronics Corporation, Lockheed Martin Corporation, Keysight Technologies, Inc., National Instrument Corporation, Rohde and Schwarz GmbH & Co. KG, General Dynamics Corporation, the Boeing Company, and Teradyne, Inc. Formation of long-term contracts, new product developments, and strategic alliances are the key strategies adopted by major players to gain a competitive edge in the market.
In 2019, CCX Technologies launched a new product: T-RX avionics radio tester. It is designed in such a manner to test 16 different systems and will conduct more than 100 different tests, which will include Instrument Landing System (ILS), Very High Frequency Omni-directional Radio (VOR), Distance Measuring Equipment (DME) Test, High Frequency Comm Generation, Transponder Mode A/C, Transponder Mode S, SELCAL Tone Generation, TCAS, and others.
Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research's internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
The following are the key features of the report: