PRLog (Press Release) – Jul 14, 2011 – Singapore, 15 July 2011 – The Asia Pacific region has been experiencing phenomenal growth in air traffic over the past decade. The rapid economic expansion in this region has spurred the growth of the air transportation industry, especially in China, India and South East Asia. The rise of low cost carriers is driving the global market and a lot of attention has shifted to this region to support business and economic growth.
Cheong Chern Wai, Senior Consultant for Frost & Sullivan's Asia Pacific Aerospace & Defense team says: "Low cost carriers in Asia Pacific have redefined air travel and increased competition, increasing air traffic and boosting aircraft sales. Recently, AirAsia made a significant order with Airbus for their upgraded A320, dubbed the A320neo. The 200 aircraft order by AirAsia signifies their confidence of the growth potential in the region and is getting prepared to increase their capacity to meet demands. Research has shown that in the next two decades, Asia Pacific will account for approximately 30% of the global aircraft deliveries."
"This represents significant opportunities for the avionics market. Avionics account for about 11%-12% of an aircraft value, and research shows that the Asia Pacific market is forecast to grow at an estimate of 7.4% from 2011 to 2015," he says. Technology advancements, adoption of modern air traffic requirements, and aircraft fleet growth are some of the key factors that are driving the commercial avionics market in Asia Pacific. The developments of next generation air traffic technologies will require airlines to upgrade existing avionics and ensure that new aircrafts are fully equipped with new technology such as ADS-B (Automatic Dependent Surveillance – Broadcast), datalinks, electronic flight instrument system (EFIS) and more.
"However, some of the challenges that industry stakeholders will face include the slower adoption of next generation air navigation requirements such as Required Area Navigation, ADS-B, and Satellite navigation in the region as compared to western nations. Airlines are facing challenges of integrating next generation avionics with existing avionics. This is proving to be a challenge as long as ground air traffic systems within the region are not upgraded to meet upgraded technologies in the west. This is especially challenging for long haul aircrafts traveling from east to west and vice versa," says Cheong.
Honeywell, Rockwell Collins and Thales are major avionics suppliers globally and Asia Pacific. However, there are upcoming companies tapping into this growing market such as the recently established joint-venture initiative betw my photo and wallpaper een GE Aviation and China's AVIC (Aviation Industry Corporation of China). This integrated avionics joint-venture was established to provide avionics to China's COMAC C919 airliner, which is expected to enter into service by 2016. Additionally, the joint-venture also intends to go head on with global major suppliers for market share in the avionics market. The initiative of the industry to improve airspace efficiencies is an open welcome as the skies become congested. The advancements of avionics will help reduce congestion by implementing better surveillance and navigation to allow more aircrafts to fly in the same airspace, while at the same time improving safety issues. The evolution of avionics technology has helped the air transportation industry to move forward, ensuring a safer sky.
If you would like to learn more about growth prospects in Commercial Avionics Markets, please contact Jessie Loh, at Jessie.loh@frost.com with your full contact details.
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Media Contacts:
Donna Jeremiah Director Corporate Communications – Asia Pacific P : + 603 6204 5832 E : djeremiah@frost.com
Jessie Loh Manager Corporate Communications – Asia Pacific P: +65 6890 0942 E: Jessie.loh@frost.com
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