What is Aircraft Clocks Market?
In the commercial aviation sector, the vendors have already been facing a lot of challenges such as disruption in production due to slowdown in aircraft demand, workers went their homes due to COVID-19, steep drop in passenger traffic, and delay in aircraft deliveries due to disrupted supply chain across the world. The United States aircraft actuator market is expected to grow at a sluggish pace during the forecast period, according to the AMA study. Moreover, the rising electrification in aircraft and the introduction of electric & more electric aircraft models are expected to be some of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a moderate pace after the COVID-19 pandemic is over.
The market study is being classified by Type (Analog and Digital) and major geographies with country level break-up.
Cobham plc (United Kingdom), Davtron, Inc. (United States), Electronics International Inc. (United States), Mid-Continent Instruments (United States), Navitec (United States), OIS Aerospace Pvt. Ltd. (India), Thommen Aircraft Equipment (Switzerland) and Winter (Winter) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the market. The recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Aircraft Clocks market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Aircraft Clocks market by Type, Application and Region.
On the basis of geography, the market of Aircraft Clocks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Electrification Across Aviation Industry
- The Rising Military Aircraft Production
- Introduction of Electric and More Electric Aircraft
- Fluctuations in Raw Materials Prices
- Electrification in Aircraft Model is Expected to be one of the Major Opportunities for Market Vendors During the Forecast Period
- Disrupted Aircraft Production in the FY 2020 Due to COVID-19 Pandemic
- Slow Recovery in Air Passenger Traffic and Expected Delays in Aircraft Deliveries
Stringent Government Regulations Regarding Travel Bans on United Kingdom Flights Across Different Parts of the World Due to COVID-19 has Impacted the United Kingdom's Aerospace Sector Severely and also it has led to Negative Impact on the Demand for Aircraft Clocks in the UK
Analyst CommentAfter a healthy global aircraft demand in 2018, the demand for commercial aircraft declined in the 2019 which was expected to regain its growth in the FY 2020 before the COVID-19 pandemic scenario. After the COVID-19 pandemic across the world, the demand for commercial aircraft has been significantly affected as the air passenger traffic is reduced heavily around the world. At the same time, the demand for military aircraft has remained unaffected by the pandemic. Therefore, the commercial aerospace sector is expected to recover slowly, as the demand for air travel is going to recover back to the 2019 level by 2024 which is expected to hamper the growth of aircraft clocks market for the commercial aviation sector. Moreover, the demand for aircraft clocks for military aircraft applications is expected to remain constant during the forecast period which is expected to drive the market demand during the near future.
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