According to Goldstein Research, “Continuous advancement in cockpit systems is improving the efficiency of vehicles or aircrafts with high safety which is likely to bring new business opportunities for the cockpit electronics suppliers. Light weight with better accuracy and functionality to enhance safety, situational awareness, easier traffic management and information controls and high efficiency are flourishing the growth of the cockpit electronics market for automotive and aviation sectors.”
“Global Cockpit Electronics Market Outlook 2024”
Global cockpit electronics market is segmented on the basis of product type and by end user. End-user segment is further categorized into automotive industry and aviation industry. Growing demand for connected cars is contributing in the dominance for automotive industry in global cockpit electronics market. However, rising inclination of aviation industry towards digital cockpit over conventional analog cockpit system is likely to fuel the cockpit electronics market for aviation industry over the forecast period. Cockpit electronics market for aircrafts is projected to reach over USD 20 billion by the end of 2024.
Asia-Pacific is the fastest growing region for global cockpit electronics market. Asia-Pacific cockpit electronics market is anticipated to reach USD 18.84 billion in 2024 registering a remarkable CAGR over the forecast period. Huge demand for automotives and expanding aviation industry in countries such as China, Japan, South Korea and India are expected to propel the cockpit electronics market in Asia-Pacific region.
Digital and Connected Cockpit: New Way of Faster, Clearer & Accurate Communication
A digital glass cockpit system reduces the workload for pilots while managing and coordinating with large networks of sensors and platforms. In order to increase fleet management capability, digital glass cockpit systems are adopted among military aircrafts which were more ubiquitous in civil aviation industry. Moreover introduction of high-speed and secure broadband in cockpit is expected to be a game changing factor for both aviation and automotive industries. Connected cockpit systems deliver much faster communications with high safety and easy operational applications. This innovation is likely to bring vast improvements for safety and efficiency and is expected to boost the growth for the cockpit electronics market in the near future.
“Global Cockpit Electronics Market Outlook 2024” contains detailed overview of the global cockpit electronics market in terms of market segmentation by product type and by end user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global cockpit electronics market also provides competitive outlook of some of the major players of global cockpit electronics market which includes profiling of companies such as Safran S.A., Harman International, Northrop Grumman Corporation, Delphi Automotive PLC, Visteon Corporation, Continental AG, Alpine Electronics Inc., Universal Avionics Systems Corporation, Panasonic Corp., Nippon Seiki, Robert Bosch GmbH, L-3 Communication Holdings, Denso Corporation, Yazaki Corporation, Rockwell Collins Inc., Garmin International, Magneti Marelli S.p.A., TomTom International BV, Avidyne Corporation, Aspen Avionics, Inc., Elbit Systems Ltd., Esterline Technologies Corporation, Honeywell Aerospace, Inc. and Thales SA. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global cockpit electronics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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