The aircraft computers market in North America is expected to grow from US$ 1,636.98 million in 2022 to US$ 2,203.43 million by 2028; it is estimated to grow at a CAGR of 5.1% from 2022 to 2028.
The US, Canada, and Mexico are major economies in North America. A rise in country GDPs, growth in consumer spending, and a surge in the urban population are the prominent factors contributing to the increase in air travelers, which is highlighting the need for new aircraft worldwide. The aviation industry is among the most important sectors contributing to the region’s GDP. With the increasing GDP and elevating per capita income, air travel is considered the most preferred means of travel, which has paved the way for the flourishment of the aerospace and aviation industry, thereby propelling the growth of the aircraft computers market.The Defense Acquisition Council (DAC) approved the purchase of 21 MiG-29 Indian Air Force (IAF) fighter jets in July 2020. These MiG-29 aircraft were fitted with the more advanced family of onboard computers. Also, in July 2020, Boeing was awarded a contract of US$ 1.2 billion by the US Air Force to supply 8 F-15EX fighter jets. The computer deployed in F-15EX fighter jets is the world's fastest computer with the Advanced Display Core Processor II. Argentine Air Force has announced the procurement of aircraft such as IA 63, Mi-171, KC-390, and T-6C+. Thus, the growing aircraft procurement indicates the high use and demand for aircraft computers.
Despite the challenges faced by the aerospace and aviation industries in 2020 due to the onset of the COVID-19 pandemic, 2021 rose as a year of recovery for the world's two largest commercial plane makers—Boeing and Airbus. In March 2022, Boeing and Airbus delivered 41 and 63 commercial jets, compared to 29 and 72 deliveries, respectively, in March 2021. However, they both still have a long way to reach back to pre-pandemic levels. In 2021, Boeing delivered 340 aircraft, compared to 157 and 380 in 2020 and 2019, respectively. Further, Airbus delivered 140 aircraft whereas received 83 aircraft orders in the first quarter of 2022. Thus, the rise in the number of aircraft deliveries across the region is underlining the need for aircraft computers, which is driving the aircraft computers market.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America aircraft computers market. The North America aircraft computers market is expected to grow at a good CAGR during the forecast period.
North America Aircraft Computers Market Revenue and Forecast to 2028 (US$ Million)
North America Aircraft Computers Market Segmentation
The North America aircraft computers market is segmented into component, type, platform, fit type, and country. Based on component, the market is segmented into hardware and software. The hardware segment accounted for a larger market share in 2021. In terms of type, the market is segmented into flight controls, utility controls & IFE Systems, engine controls, mission computers, and flight management computers. The flight controls segment accounted for the largest share of the market in 2021. Based on platform, the market is categorized into fixed wing, rotary wing, and unmanned aerial vehicles (UAVs). The fixed wing segment dominated the market in 2021. In terms of fit type, the market is categorized into line fit and retrofit. The line fit segment accounted for a larger share in 2021. Based on country, the North America aircraft computers market is segmented into the US, Canada, and Mexico. The US held the largest market share in 2021.
BAE Systems; Garmin Ltd.; General Dynamics Mission Systems, Inc.; General Electric; Honeywell International Inc.; Lockheed Martin Corporation; Raytheon Technologies; SAAB AB; Safran Group; and Thales Group are among the leading companies in the North America aircraft computers market.