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(MoneyNewsWire.Net, March 11, 2018 ) The aircraft antenna market is estimated to be USD 310.6 Million in 2017 and is projected to reach USD 405.7 Million by 2022, at a CAGR of 5.49% during the forecast period from 2017 to 2022. The growing demand for durable and efficient aircraft antennas and the increasing number of aircraft deliveries is expected to drive the growth of the aircraft antenna market during the forecast period.
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The aircraft antenna market is expected to grow at a significant pace during the forecast period due to the increasing number of aircraft deliveries from the Middle East, Asia Pacific, and Africa. Moreover, the rise in the application of unmanned aerial vehicles in the military sector for critical defense missions and rescue operations is further expected to drive the aircraft antenna market in emerging economies. However, high cost involved in the manufacturing of aircraft antennas acts as a challenge for the growth of the aircraft antenna market.
The demand for different types of aircraft is estimated to grow at a significant rate during the forecast period. Different types of aircraft are used to transport passengers and cargo from one place to another. These aircraft are equipped with modern and advanced antennas resulting in reduced probability of interference in communication and navigation operations.
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Based on application, the navigation & surveillance segment is estimated to account for the largest share of the aircraft antenna market in 2017. The growth of this segment can be attributed to the increase in bandwidth and the use of high frequencies for navigation & surveillance by aircraft.
The North American region is estimated to be the largest market for aircraft antenna in 2017. Moreover, the aircraft antenna market is expected to witness significant growth in the Asia Pacific region during the forecast period due to the increasing aviation passenger traffic and the consequent demand for new commercial aircraft. The increasing demand for next-generation advanced aircraft antennas from emerging economies is also expected to fuel the growth of the Asia Pacific aircraft antenna market during the forecast period. Countries such as China, Brazil, and India have a huge growth potential for the aircraft antenna market, as governments of these countries have increased their defense budget to enhance their civil & commercial and military aircraft fleet.
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Cobham (UK), Harris (US), Boeing (US), Honeywell (US), RAMI Aviation (US), TECOM (US), and AZIMUT (Russia) are some of the established players in the aircraft antenna market. These players not only offer different products and services to cater to the needs of their customers but also provide a broad range of aftermarket, engineering, refurbishment, technical, and information services.
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