Global Remote Electronic Unit Market Size By Product (Aircraft Platform, Spacecraft Platform), By Application (OEM, Aftermarket), By Geographic Scope And Forecast
Report ID: 20428|No. of Pages: 202
Global Remote Electronic Unit Market Size By Product (Aircraft Platform, Spacecraft Platform), By Application (OEM, Aftermarket), By Geographic Scope And Forecast
Remote Electronic Unit Market Size And Forecast
Remote Electronic Unit Market size was valued at USD 4.38 Billion in 2022 and is projected to reach USD 12.55 Billion by 2030, growing at a CAGR of 14.05% from 2023 to 2030.
The growing need for systems & components based on wireless communication technologies in the aerospace industry, miniaturization of remote electronic units, and rapid expansion of the aviation sector are expected to drive the Remote Electronic Unit Market during the predicted years. The Global Remote Electronic Unit Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Remote Electronic Unit Market Definition
On contemporary aircraft platforms, the remote electronics unit serves as a crucial interface between a number of aircraft systems. These devices carry out a number of tasks, including relaying pilot commands to the appropriate control surface, keeping track of fuel levels, connecting antiquated transducers to contemporary glass cockpits, ensuring that the landing gear deploys properly, etc. They are divided into the Aircraft Platform and the Spacecraft Platform depending on the product.
On contemporary aircraft and spacecraft, a remote electronic unit interfaces with a number of systems and parts. Components of a remote electronic device used inside an airplane consist of data concentrators, remote interfaces, as well as remote terminal units. An exceptionally sophisticated and reliable tool that performs operations to control different subsystems and actuation is a remote electronic unit. The remote electronics unit is a crucial interface between a number of aircraft systems on modern aircraft platforms. These devices have a number of uses, such as ensuring that the landing gear deploys correctly, monitoring fuel levels, allowing obsolete transducers to communicate with modern glass cockpits, and delivering the necessary pilot instruction to the appropriate control surface.
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Global Remote Electronic Unit Market Overview
The aerospace industry’s expanding need for systems and parts based on wireless communication technologies is anticipated to drive the Remote Electronic Unit Market over the upcoming years. Additionally, the market is anticipated to grow in the next years due to the miniaturization of remote electronic devices and the expansion of satellite constellations. Additionally, it is anticipated that over the anticipated period, the market would be driven by the aviation sector’s rapid rise and an increase in air travel.
The market for remote electronics units is expected to be driven throughout the foreseeable future by the aerospace industry’s rising demand for systems and components based on wireless communication technology. The market is anticipated to expand in the next coming years as a result of the decline in the size of far-off electronic equipment and the growth of satellite constellations. The market is also expected to be stimulated by the aviation industry’s rapid growth and the increase in air travel during the forecast timeframe. One of the main elements expected to drive demand for remote electrical devices is the expansion of satellite constellations. A remote electronic unit is used to manage the temperature control, satellite attitude, as well as orbit control subsystems of a spacecraft.
As a result of an increase in international air travel, the market for remote electronic units has grown significantly in recent years. As a result, demand for distant electronic equipment has increased, particularly from developing countries in Asia and the Pacific. As a result of stakeholders recognizing this trend and raising manufacturing capacity to satisfy the rising demand from the airline industry, the market for remote electronic devices has grown.
Global Remote Electronic Unit Market: Segmentation Analysis
The Global Remote Electronic Unit Market is Segmented on the basis of Product, Application, and Geography.
Remote Electronic Unit Market, By Product
- Aircraft Platform
- Spacecraft Platform
Based on Product, the market is bifurcated into Aircraft Platform and Spacecraft Platform. The Spacecraft Platform segment is expected to hold the largest market share. The factors can be attributed to the rising number of space constellations in recent years and its higher growth than the aircraft segment.
Remote Electronic Unit Market By Application
- OEM
- Aftermarket
Based on Application, the market is bifurcated into OEM and Aftermarket. The Aftermarket segment is anticipated to have the highest CAGR in the forecasted period as it caters to the maintenance, repair, and overhaul services related specifically to remote electronic systems.
Remote Electronic Unit Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
Based on Regional Analysis, the Global Remote Electronic Unit Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share in the market will be dominated by North America owing to the higher disposable income and rise in the number of air travel in this region.
Key Players
The “Global Remote Electronic Unit Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Rockwell Collins, Siemens, Thales Group, Parker Hannifin, BAE Systems, The Liebherr Group, The Curtiss-Wright Corporation, MOOG, Becker Avionics, and AAC MICROTEC. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
- In February 2023: Lilium N.V., the developer of the first all-electric vertical take-off and landing (EVTOL) jet, teamed with Collins Aerospace, to design, develop, and build the Lilium Jet’s inceptors – the innovative sidestick system used by the pilot to control the aircraft. Collins is a leader in technologically advanced and intelligent solutions for the global aerospace and defense industry and a Raytheon Technologies business.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Remote Electronic Unit Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Remote Electronic Unit Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2019-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Period | 2019-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Rockwell Collins, Siemens, Thales Group, Parker Hannifin, BAE Systems, The Liebherr Group, The Curtiss-Wright Corporation. |
| Segments Covered |
|
| Customization Scope | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
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Data Collection Matrix
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Industry Analysis Matrix
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