Report : Asia Pacific Data Bus Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware and Software), Protocol (Arinc 429/629, Mil-Std 1553, and Others), and Application (Marine, Automotive, Commercial Aviation, and Military Aviation)
Military Aviation Segment to Dominate APAC Data Bus Market During 2021–2028
According to a new market research study on “APAC Data Bus Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Protocol, and Application” is expected to reach US$ 6,282.85 million by 2028 from US$ 3,993.19 million in 2021. The market is estimated to grow at a CAGR of 6.7% from 2021 to 2028. The report provides trends prevailing in the APAC data bus market along with the drivers and restraints pertaining to the market growth. Increasing demand for new aircraft in Asia-Pacific countries and growing high performance data buses are the major factor driving the growth of the APAC data bus market. However, concerns pertaining to serial data bus hinder the growth of APAC data bus market.
The APAC data bus market has been segmented and analyzed on the basis of component, protocol, application, and country. Based on component, the APAC data bus market is further segmented into hardware and software. The hardware segment dominated the APAC data bus market in 2020 and software segment is expected to be fastest growing during forecast period. On the basis of protocol, the APAC data bus market is segmented into ARINC 429/629, MIL–STD-1553, and others. The MIL–STD-1553 segment dominated the APAC data bus market in 2020 and ARINC 429/629 segment is expected to be fastest growing during forecast period. On the basis of application, the APAC data bus market is further segmented into automotive, marine, commercial aviation, and military aviation. The military aviation segment dominated the APAC data bus market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the APAC data bus market is segmented into China, India, Japan, South Korea, Australia, and rest of APAC.
Collins Aerospace, Data Device Corporation, Fujikura Ltd., HUBER+SUHNER, Nexans, and TE Connectivity Corporation are among the leading companies in the APAC data bus market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Data Device Corporation (DDC) released two new ultra-compact 1553 magnetics components that provide size and weight savings, enabling minimized package design and optimized system connectivity.