for Airline Industry Segmentation by Port Type (USB 2.0, USB 3.0, USB 3.1, USB 3.2, and Others); by Application (Charging, and Entertainment); and by Aircraft Type (Commercial Aircraft, Private, and Others) – Global Demand Analysis & Opportunity Outlook 2019-2028
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Growth Drivers
Challenges
Regionally, the global USB Type-C market for airline industry is segmented into five major regions comprising of North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. Among the markets in these regions, the market in the Asia Pacific is anticipated to hold the largest share and further attain a revenue of USD 5460.7 thousand by the end of 2028. The market in the region is also expected to grow with the highest CAGR of 13.5% during the forecast period. The market is further segmented by country into China, India, Japan, South Korea, Vietnam, Singapore, Australia, and Rest of Asia Pacific. Out of these, the market in China is expected to hold the largest share of 46.02% by the end of 2028 and further gain a revenue of USD 2513 thousand in the same year. The market in Vietnam, on the other hand, is expected to grow with the highest CAGR of 15.2% during the forecast period. Further, the market in North America is expected to hold the second leading stance by registering a revenue of USD 5242.5 thousand by the end of 2028. The growth of the market in the region can be attributed to the increasing number of consumer electronic brands, such as Philips, Panasonic, Samsung, and others, who are switching to USB Type-C connectivity in the electronic devices.
The global USB Type-C market for airline industry is segmented by port type into USB 2.0, 3.0, 3.1, 3.2, and others, out of which, the USB 2.0 segment is expected to hold the largest market share throughout the forecast period and further gain a revenue of USD 11238.5 thousand by the end of 2028. The growth of the segment can primarily be attributed to the presence of a large number of devices in the market that are equipped with USB 2.0 technology. Alternatively, the USB 3.2 segment is expected to grow with a significant CAGR of 29.1% during the forecast period. The USB 3.2 is the updated version of the previously launched USB 3.1, and it offers data transfer speed of up to 10Gbps. The market is further segmented by aircraft type into commercial aircraft, private, and others. Amongst these segments, the commercial aircraft segment is expected to hold the largest market share and attain a revenue of USD 13516.4 thousand by the end of 2028. The growth of the segment can primarily be attributed to the rise in the number of commercial aircrafts worldwide, backed by the need to transport the increasing number of passengers. According to the statistics by the International Civil Aviation Organization (ICAO), the total number of passengers carried on scheduled services grew by 3.6% between 2018 and 2019 to reach 4.5 billion in the year 2019. The statistics also stated that the number of departures witnessed growth by 1.7% between the same period. Based on application, the market is segmented into charging and entertainment, out of which, the charging segment is expected to hold the largest market share and further grow with the highest CAGR of 12.3% during the forecast period.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global USB Type-C market for airline industry that are included in our report are Astronics Corporation, AAR Corp., Mid-Continent Instrument Co., Inc. (True Blue Power), Imagik Corporation, Appareo Systems, LLC, Burrana, IFPL Group Limited, Inflight Canada, Kid-Systeme GmbH, Eirtech Aviation Services, and others.
Key Reasons to Buy Our Report
In March 2020, Bell Textron Inc. signed a contract with Astronics Corporation, announcing that Astronics will provide their CorePower airframe electrical generation and power distribution systems to support Bell Textron's Future Long-Range Assault Aircraft (FLRAA) and Future Attack Reconnaissance Aircraft (FARA) programs.
In December 2020, AAR Corp. extended its agreement with Viasat to provide logistics, repair, and aftermarket management services for the latter’s in-flight connectivity products.
In June 2020, Burrana unveiled its new RISE platform, which is an in-flight entertainment (IFE) platform that can be configured to incorporate any combination of the wireless, seatback, and overhead systems along with the in-seat power, depending upon the requirement of the airlines. Burrana further announced that its RISE seatback display would feature 4K ultra high-definition (UHD) resolution, along with Bluetooth, near field communication, and USB-C or USB-A in-seat power systems.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Growing demand for USB Type-C devices is one of the major factors responsible for the growth of the market.
Ans: The market is anticipated to attain a CAGR of 12.2% over the forecast period i.e., 2020-2028.
Ans: Additional cost associated to semiconductor content and limited power supply in airlines is estimated to act as barriers to the market growth.
Ans: Asia Pacific is estimated to create notable growth opportunities for market growth over the forecast period.
Ans: The major players in the market are Astronics Corporation, AAR Corp., Mid-Continent Instrument Co., Inc. (True Blue Power), Imagik Corporation, Appareo Systems, LLC, Burrana, IFPL Group Limited, Eirtech Aviation Services, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by port type, application, aircraft type, and region.
Ans: The charging segment is anticipated to hold largest market size in value and is estimated to display significant growth opportunities.
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