Aviation annunciator or annunciator panel is a set of lights that are used to indicate the status of equipment, component or systems in an aircraft. The annunciator alarms the pilots to draw their attention towards a possible upcoming failure or critical airplane status for a safe and smooth flight. Standard colours used in the lights are green, red, and yellow. Generally, the aircraft annunciators are integrated to the central aircraft warning systems as a part of flight control and monitoring capabilities. The growing requirement of annunciators from the booming military aviation sector is creating strong growth prospects for the aviation annunciator market. Furthermore, the crucial requirement of these components in commercial aircraft is a key factor for the market growth.
MARKET SCOPE
The "Global Aviation Annunciators Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of Aviation annunciators market with detailed market segmentation by component, light source, aircraft type and geography. The global aviation annunciators market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading aviation annunciators market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on component, the global aviation annunciators market is segmented into control panel, switches, lights.
- On the basis of light source, the market is segmented into incandescent and LED.
- Based on aircraft type, the market is segmented into commercial aviation, business aviation, and general aviation.
MARKET DYNAMICS
Drivers -
o Rising requirement of pilot-friendly aviation annunciators
o Development of new aircraft and replacement of control panels in existing ones
Restraints -
o Saturation in technology of existing aviation annunciators
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The aviation annunciators market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyses factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the aviation annunciators market in these regions.
IMPACT OF COVID-19 ON AVIATION ANNUNCIATORS MARKET
The COVID-19 pandemic created a substantial negative impact on the global aviation industry due to the drastic fall in aircraft production. Major aircraft manufacturers, such as Boeing and Airbus, reduced their production forecasts by 50%. For instance, the total airlines' industry revenues dropped by 40% to $328 billion in 2020 due to the declining demand for air travel and wide-scale flight cancellation. Air cargo traffic levels contracted during the pandemic's peak due to weak global trade growth and capacity limitations. However, near-term cargo air traffic has begun to recover and creates a good market for Aviation annunciators in the long term. In addition to the near-term impact, the global aviation industry implements longer-term strategies involving reduced capacity, shifting route patterns, and mitigation strategies related to the effects of COVID-19. Moreover, the requirement of aviation annunciators in the military aviation sector creates a stable demand in the market and is expected to stabilize the position of major players.
MARKET PLAYERS
The report covers key developments in the aviation annunciators market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership and collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from aviation annunciators market are anticipated to lucrative growth opportunities in the future with the rising demand for aviation annunciators in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the aviation annunciators market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Aero Safety Systems
- Mid-Continent Instrument Co., Inc.
- Applied Avionics Inc.
- Aircr
- Digital Promoters India Pvt. Ltd.
- DPI Labs Inc.
- Flight Data Systems
- Korry Electronics
- Microtechna Praha A.s
- Radiant Power Corp. (HEICO)