Press Release Description
Growing Digitization of Commercial Aircrafts to Boost the Market of Global Aviation Digital Maps Software
The Global Aviation Digital Maps Software Market is projected to grow at a CAGR of around 6.51% during the forecast period, 2022-27, says MarkNtel Advisors in their recent research report. The Global demand for aviation digital maps is increasing, owing to various factors such as rising spending on aircraft manufacturing & increasing investments in military aircraft. The growing domestic demand from countries such as the US, Germany, and Canada for commercial & military aircraft along with the growing import of military aircraft to the Middle Eastern, European & Asian countries, has enhanced the requirement for digital map software in newly manufactured aircraft. For instance, in 2019, L3Harris Technologies bagged nearly USD10 million contract, for 96 digital video map computers (DVMC) & 51 digital map computers (DMC) for the US F/A-18 E/Fs & AH-1Z, including H-1 helicopters & 13 DMCs for the government of Bahrain.
Moreover, the growing concern for situational awareness like aircraft physical location in space, airspace reservations by other aircraft, etc., faced by civilians as well as by military flight crews fueled the demand for aviation digital maps software in the historical period. Furthermore, the companies also entered into agreements with the governments of various countries, such as the US & Bahrain, which positively affected the aviation digital maps industry.
3D Map Captured the Highest Market Share
Based on the map type, the market is divided into 2D & 3D. Among them, the 3D digital map segment holds the major market share, owing to its enhanced configuration that assists pilots in better situational awareness, thereby enhancing passenger safety. Therefore, the growing shift of aircraft manufacturers towards the digital 3D map is anticipated to grow at a considerable rate. Moreover, the digital 3D maps use computer graphics to provide geographic information & deliver real-time data about the aircraft.
Besides, these maps have been more efficient information providers & are expected to outrun the market of 2D maps in the aviation sector. In addition, the strategic partnership among the companies to introduce next-generation digital mapping systems along with the introduction of the advanced 3D map for commercial & military aircraft are further projected to boom the market growth during the forecast period
Commercial Airports Witnessed Considerable Growth During the Historical Period
Based on end-users, the market bifurcates into Commercial Airports & Aeronautics. Of them all, the Commercial airports have witnessed considerable demand for digital maps software in the historical period, owing to the expansion of runways globally & the building of new airports. Additionally, the growing government spending for the expansion of airports to meet the demand of rapid air traffic growth due to rising air passengers is expected to create an opportunity for the installation of air traffic control towers. Thus, the construction of new air traffic control towers is expected to enhance the demand for the installation of digital maps software.
North America Held Dominant Share in the Market
Geographically, North America is witnessing significant market growth in the Global Aviation Digital Map Software market over the past few years. The market was primarily driven by huge investment in aircraft manufacturing by OEMs & the high presence of OEM manufacturers in the region such as Canada & the US. For instance, in 2020, Airbus plans to produce 63 A320 Family aircraft per month in 2021. The company also aims to expand its industrial footprint in the US by increasing the production rate of A320 family aircraft at its Airbus US.
Additionally, the growing shift towards the adoption of electric vertical take-off and landing (eVTOL) aircraft along with the growing number of fighter jets in military & defense by the regions are some of the key factors creating revenue opportunities for the Aviation Digital Maps Software market growth. Moreover, with growing air travel, airlines are increasing their aircraft fleet size to meet the demand. Hence, this has imposed lucrative opportunity for the growth of the Aviation Digital Maps Software market in the forecast period, reveals MarkNtel Advisors in their research report, "Global Aviation Digital Maps Software Market Analysis, 2022-27."
According to MarkNtel Advisors, the leading players in the Global Aviation Digital Maps Software market are KONGSBERG GEOSPATIAL Ltd., ENSCO, Inc., IDS INGEGNERIA DEI SISTEMI S.P.A., L3Harris Technologies, Inc., Elbit Systems Ltd., Jeppesen – A Boeing Company, Honeywell International Inc., Garmin International, Inc.
Key Questions Answered in the Study
- What are the current & future trends in the Global Aviation Digital Maps Software Market?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across various countries, followed by their comparative factorial indexing?
- What are the key growth drivers & challenges for the Global Aviation Digital Maps Software Market?
- What are the customer orientation, purchase behavior, and expectations from product manufacturers across various regions?
- By Map Type (2D, 3D)
- By End Users (Commercial Airports, Aeronautics [(Commercial Aircraft, Military Aircrafts))
- By Region (North America, Latin America, Europe, Asia-Pacific, the Middle East & Africa)
- By Competitors (KONGSBERG GEOSPATIAL Ltd., ENSCO, Inc., IDS INGEGNERIA DEI SISTEMI S.P.A., L3Harris Technologies, Inc., Elbit Systems Ltd., Jeppesen – A Boeing Company, Honeywell International Inc., Garmin International, Inc.)
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