According to our latest study, titled "Aircraft Computers Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Type, Platform, and Fit Type," the market is projected to reach US$ 7,140.52 million by 2028 from US$ 4,908.20 million in 2021. It is expected to grow at a CAGR of 5.8% from 2022 to 2028.   

Increasing Number of Aircraft Deliveries Fuelling the Aircraft Computers Market Growth

The aircraft computers market is being propelled by the aerospace and aviation industry, which is a significant contributor to the country's GDP. Air travel has become the preferred mode of transportation due to the increasing GDP and per capita income, resulting in the growth of this industry. According to Airbus, the global urban population is predicted to reach 5 billion by 2030, and the middle-class population is expected to double by 2030, leading to an increase in air travel. This increase in air travel is projected to increase Airbus' market share from 51% in 2021 to over 60% by 2030. Boeing estimates that the global passenger and freighter fleet will grow to 42,180 aircraft by 2041, valued at US$5.2 trillion, including 36,770 new airplanes. Additionally, Boeing plans to produce 25,680 new single-aisle airplanes over the next 20 years with a market value of US$4.4 trillion, while Bombardier forecasts 22,000 business aircraft deliveries. Airbus expects a demand for 39,000 new passenger and freighter aircraft by 2040, including 29,690 small aircraft, 5,340 medium aircraft, and 3,990 large aircraft, with small aircraft fleets projected to hold 76% of the demand projection from 2021 to 2040. This growth in the aircraft industry is expected to boost the aircraft computers market soon.

The defense budgets of major countries such as the US, China, India, Russia, Japan, and Saudi Arabia are witnessing annual increases. This trend is driving the growth of the aircraft computers market as it leads to a rise in aircraft deliveries. For instance, Dassault Aviation secured a contract worth US$ 4.5 billion in May 2021 to supply 30 Rafale fighter jets to Egypt. Similarly, in July 2020, the Defense Acquisition Council (DAC) sanctioned the purchase of 21 MiG-29 Indian Air Force (IAF) fighter jets, which were equipped with advanced onboard computer systems. In summary, the analysis of the aircraft computers market provides insights into the emerging trends, technological advancements, and macro and micro factors that are likely to impact the market size in the future.

The aerospace industry in the US is the largest in the world with over 13,000 military aircraft and 7,800 commercial aircraft units. According to the Federal Aviation Administration's (FAA) 2021 statistics, the commercial aircraft fleet is projected to grow to 8,756 by 2041 due to the rise in air travel. Major aircraft manufacturers such as Boeing, Textron, Gulfstream, and Airbus have established their manufacturing bases in the US. The increasing orders for commercial and business aviation aircraft are expected to drive the demand for aircraft computers, thereby fuelling the growth of the aircraft computers market.

The growth of the aircraft computers market in the Asia Pacific (APAC) region can be attributed to several factors, including the increasing number of aircraft fleets, rising passenger traffic, increased spending on military aircraft due to a growing defense budget, a shift towards lightweight materials in aircraft manufacturing, and ongoing development projects for commercial and military aircraft.

Boeing predicts that APAC countries will receive a total of 17,645 commercial aircraft deliveries between 2021 and 2040, which will further boost the demand for aircraft computers in the region. The APAC aircraft computers market is also driven by the increasing demand for aircraft in developing economies such as China and India. According to Airbus, airlines in the APAC region are expected to acquire more than 17,600 new aircraft by 2040, with approximately 30% of these new aircraft replacing older aircraft fleets.

Leading manufacturers of aviation electronics, including Garmin International, Honeywell, and Collins Aerospace, anticipate a robust demand for flight management systems in the area. This projected increase in the supply of aircraft components during the upcoming years is likely to fuel the growth of the aircraft computers market throughout the forecast period.

Key Findings of Study

The aircraft computers market is categorized into five primary regions, namely North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America dominated the market in 2020, mainly due to the presence of numerous military and commercial aircraft manufacturers in the region. Key players in the aircraft computer industry in North America include Honeywell, Collins Aerospace, and Curtiss-Wright. Smiths Industries supplies flight management computers to Boeing's aircraft, while Frontier Airlines has ordered around 175 units of A320 aircraft. The manufacture of new aircraft is expected to bolster the growth of the aircraft computers market. In 2020, Delta Airlines partnered with IBM for its quantum computing, and the rising number of orders and collaborations are driving the growth of the aircraft computers market in this region.

Despite the significant challenges faced by the aviation and aerospace industries in 2020 due to the COVID-19 pandemic, 2021 marked a year of recovery for the two largest commercial plane manufacturers, Boeing and Airbus. In March 2022, Boeing and Airbus delivered 41 and 63 commercial jets, respectively, which is an improvement compared to the 29 and 72 deliveries made in March 2021. However, both companies still have a long way to go before they can reach pre-pandemic delivery levels. In 2021, Boeing delivered 340 aircraft, which is an increase from 157 and 380 in 2020 and 2019, respectively. Similarly, Airbus delivered 140 aircraft and received 83 aircraft orders in the first quarter of 2022. The increasing number of aircraft deliveries worldwide is emphasizing the need for aircraft computers, which is expected to drive the growth of the aircraft computers market in the coming years.

The expansion of the aircraft computers market in the Asia-Pacific (APAC) region is attributed to various factors, including the increasing number of aircraft fleets and rising passenger traffic, augmented spending on military aircraft due to a growing defense budget, a preference for lightweight materials in aircraft production, and ongoing development projects for commercial and military aircraft. As a result, the aerospace industry is placing significant emphasis on aircraft manufacturing and implementing various strategies, which are expected to drive the growth of the aircraft computers market throughout the forecast period.

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