According to a new market report published by Stratistics MRC the Global Glass Cockpit for Aerospace Market accounted for $1,507 million in 2014 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.01% reaching $1,910.2 million by 2022. Aspects such as light weight with augmented functionalities and better precision, automation of flight controls and superior safety has influenced the market growth. However, increased complexity is restraining the market. Adoption of high-end technologies such as touchscreen displays along with rising demand of aircrafts by airlines, are the major growth opportunities for the glass cockpit displays in aerospace industry.
Global Glass Cockpit for Aerospace market is segmented by Display Type into Back-up Display, Mission Display, Primary Flight Display, and Multi-function Display. Global Glass Cockpit for Aerospace market is segmented by Display Size into Less Than 5 inches, 5 inches to 10 inches and Greater Than 10 inches. Global Glass Cockpit for Aerospace market is segmented by Aircraft Type into Fighter, Cargo, Business Jet, Trainer, General Aviation, Air Transport and Helicopter. Among the Aircraft type segment, Cockpit anticipates the future challenges of the air transport industry, in their systematic efforts to continue growth trends in air traffic. The business jet market is mainly active in Asia, where demand is being driven by a new generation of entrepreneurs mainly from China and Indonesia. North America has the greatest number of new business jet deliveries followed by Europe. China is forecast to become the third major region in terms of deliveries, while markets such as Brazil, India, Russia, Mexico and Turkey are expected to form an important share of the business jet market.
Browse the full report at "Global Glass Cockpit for Aerospace Market Outlook".
This report also covers trends driving each segment and offers analysis by geography, with key regions such as North America, Europe, Asia Pacific and Rest of the World. The North America and Europe are accounted for more than 50% market share. However, Asia Pacific is poised to grow at a highest CAGR. Factors such as automation of the flight controls, situational awareness and efficiency are driving the growth of the glass cockpit displays for aerospace market.
Some of the key players include Aspen Avionics, Inc. (U.S.), Avidyne Corporation (U.S.), Dynon Avionics (U.S.), Elbit Systems Ltd. (Israel), Esterline Technologies Corporation (U.S.), Garmin Ltd. (Switzerland), Honeywell Aerospace, Inc. (U.S.), L-3 Communication Holdings, Inc. (U.S.), Northrop Grumman Corporation (U.S.), and Rockwell Collins, Inc. (U.S.).
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