aircraft interface device Market

The Aircraft Interface Device market is projected to reach US$ 354.10 million by 2028 from US$ 174.06 million in 2021; it is expected to grow at a CAGR of 11.5% from 2022 to 2028.

The commercial aviation industry has experienced significant growth over the last decade, with airlines in both developed and developing countries ordering large numbers of aircraft to meet the increasing demand for air travel. Despite challenges such as rising fuel costs and technical issues leading to accidents, the need for air travel is expected to continue to grow due to the increasing disposable income of the global population. This growth in commercial air traffic is fueling the expansion of the aircraft interface device market.

According to the International Air Transport Association (IATA), the global number of commercial aviation passengers reached 1.8 billion in 2020 and is projected to rise to 7.8 billion by 2036. The Asia Pacific region is expected to generate the highest revenue, contributing 33% of the global passenger count in 2019 and projected to increase to 41% by 2040, according to Boeing's commercial market output report. The aviation industry is also adopting advanced information technologies that are anticipated to enhance decision-making capabilities and enable faster implementation of new processes. For instance, the European Federation of Biotechnology (EFB) uses thousands of software algorithms to process radar data and raw flight plans from the air traffic control system, leading to increased awareness of the benefits of aircraft interface devices and driving the growth of the market.

The aircraft interface device market is expected to benefit from the growing adoption of machine learning and artificial intelligence, which can leverage big data to improve predictive analysis capabilities. This advancement enables manufacturers to enhance the usability of the cockpit EFB and replace paper charts with computer screens and tablets in the cockpits. The increasing demand for advanced technology in the airline industry is driving the integration of such techniques to develop a smarter cockpit, which allows for better communication with ground support staff, including maintenance and dispatcher's personnel. These improvements enable efficient operations and better fuel efficiency, contributing to the growth of the aircraft interface device market.

COVID-19 Impact on Aircraft Interface Device Market

The COVID-19 pandemic has heavily impacted North America, causing disruptions in supply chains and manufacturing facilities, which has affected the performance of the aircraft interface device market in the region. Despite North America's strong performance from 2012 to 2019, with airlines generating a profit of US$ 44 billion, the pandemic has hit the aviation sector hard, resulting in a financial loss of US$ 63 billion in 2020. This has been exacerbated by pre-existing challenges faced by the North American aviation industry, such as the B737 Max issue, leading to a drop in demand, supply chain disruptions, financial stress, and labor impairment, all of which have negatively affected the aircraft interface device market in the region.

Europe boasts the world's busiest airspace, with over ~20,000 flights per day and ~600 million passengers flying annually. The region's robust economy and increasing demand for air traffic are driving the need for aircraft interface devices. The market for these devices is being fueled by the demand for new modern aircraft in both the commercial and military sectors. Economic stability in the region is supporting the procurement of more aircraft by airliners and defense forces to meet the growing demand for air travel and bolster military capabilities. The military sector has also increased its procurement of military aircraft over the years, and this trend is expected to continue, further boosting the aircraft interface device market.

The IATA reported that European airlines transported around 389.9 million passengers in 2020, which drives the manufacturing of aircraft and aircraft components. Germany's purchase of six Lockheed Martin C-130J Hercules aircraft in 2018 and the joint manufacturing plant construction plans by Germany and France for the C-130J Hercules aircraft at reduced costs to their air forces further contribute to the growth of the aircraft interface device market. Moreover, aircraft manufacturers are constructing new facilities for aircraft development, such as Boeing's first European manufacturing site in the UK. These factors are all fueling the growth of the aircraft interface device market in Europe.

Thales Group, Honeywell International, Inc., AMETEK, Boeing, and Collins Aerospace are among the key players in the global aircraft interface device market, as per this market study.

The size of the aircraft interface device market has been determined through a comprehensive research approach that combines primary and secondary sources. Secondary research was conducted using both internal and external sources to gather qualitative and quantitative information related to the market. This helped to provide an overview and forecast of the market size for all market segments. In addition, primary interviews were conducted with various industry participants and commentators, including VPs, business development managers, market intelligence managers, national sales managers, and external consultants. These interviews were aimed at validating the data and gaining more analytical insights about the aircraft interface device market. The interviewees included industry experts such as valuation experts, research analysts, and key opinion leaders who specialize in the aircraft interface device market.