The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Remote electronic unit market is likely to witness an impressive CAGR of 14.2% during the forecast period
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Segment Analysis
Based on the aircraft application type, the market is segmented as flight control surface, landing gear, fuel system, ice protection system, and others. The flight control surface segment is estimated to witness the highest growth in the coming five years. The growth of this segment can be ascribed to the rising use of advanced fly-by-wire systems in the primary and secondary flight control systems of aircraft, which empower pilots to fine-tune and control the flight attitude of aircraft.
Based on the platform type, the market is segmented as spacecraft and aircraft. The spacecraft segment is expected to depict a higher growth than the aircraft segment during the forecast period. The growth of this segment is owing to the growing number of satellite constellations in the recent years. The number of remote electronic units to be employed in a spacecraft primarily depends on the dimension of a spacecraft and the number and type of functions that a remote electronic unit is needed to perform.
Based on the end-use type, the market is segmented as original equipment manufacturer (OEM) and aftermarket. The original equipment manufacturer segment was estimated to remain dominant in 2018, and is expected to lead the market during the forecast period. Original Equipment Manufacturers (OEMs) are accountable for the installation of REU components, as line fitting these components is less time consuming against the installation after the delivery of an aircraft.
In terms of regions, the North American region was estimated to remain dominant in the remote electronic unit market in 2018, owing to the presence of several leading manufacturers, such as Parker Hannifin, Rockwell Collins, and Curtiss-Wright. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Features of the Report
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