The Avionics Racks Market report published by Stratview Research offers wide-ranging analysis of key growth strategies, drivers, opportunities, key segments, and competitive landscape, etc. This detailed study is a useful source of information for prominent market players, new entrants, investors, and stakeholders to gain a thorough understanding of the market and determine measures to be taken to gain a competitive advantage.
Some key takeaways from this report –
The report offers key drivers that trigger the growth in the Avionics Racks Market. The insights mentioned in this report helps market players in formulating strategies to gain market presence or to sustain during the hard times. The research also mentions restraints of the market. Critical data on growth opportunities, current and upcoming trends are mentioned to assist market players in taking further steps by determining the potential in untapped regions.
The research offers segment wise analysis of the Avionics Racks Market. Extensive analysis of sales, revenue, growth rate, and market share of each for the historic period and the forecast period is offered with the help of tables, graphs, pie charts and more.
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Avionics Racks Market by Resin Type:
In 2021, the market has started showing an early sign of recovery with a production rate of the best-selling aircraft programs gradually rising. Furthermore, Boeing and Airbus, the two aerospace giants, are optimistic about the near future and have plans to rapidly increase the production rates to their pre-pandemic levels. Overall, the avionics racks market is subjected to recoup at a promising rate of 7.8% to reach US$ 132 Million by 2026.
Avionics Racks Market by Material Type
Based on the material type, the avionics racks market is segmented by aluminum racks, stainless steel racks, and composite racks. Despite taking a nosedive in 2020, aluminum is expected to remain the most preferred material type in the market during the forecast period. With the increasing demand for lightweight yet durable components, composite racks would likely witness the fastest growth during the forecast period. Composites are the best design option when a fully enclosed rack is needed while maintaining a low installation weight and good product durability. These racks are hybridized structures, containing traditional aluminum elements for attaching to the aircraft as well as supporting the electronic equipment inside.
Avionics Racks Market by Regional Insights:
In terms of regions, North America is expected to remain the largest market for avionics racks, during the forecast period. The USA is the growth engine of the regional market with the presence of major aircraft OEMs, tier players, raw material suppliers, and manufacturers. Most of the rack suppliers have their presence in the region to address the emergent needs of OEMs and to be the partner for their upcoming aircraft programs.
Asia-Pacific is likely to be the fastest-growing region during the same period. The fastest growth of the region is majorly attributable to the increasing aircraft fleet to support the rising passenger traffic, the opening of assembly plants of Boeing and Airbus for multiple aircraft programs, and increasing procurement of military aircraft, owing to the rising defense budget.
Some of the key players in the Avionics Racks market are-
- The Groupe Latecoere
- Safran S.A.
- AMETEK, Inc.
- Carlisle Interconnect Technologies
- Collins Aerospace
- Comtek Advanced Structures
- Ducommun Incorporated
- Hutchinson Aerospace
- L3Harris Technologies, Inc
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