According to the new market research report "Remote Electronic Unit Market by Application (Flight Control Surface, Landing Gear, Fuel System, Ice Protection System), End Use (Original Equipment Manufacturers, Aftermarket), Platform (Aircraft, Spacecraft), and Region - Global Forecast to 2022", The remote electronic unit market is projected to grow from USD 2.78 Billion in 2017 to USD 5.10 Billion by 2022, at a CAGR of 12.88% from 2017 to 2022. Manufacturers in the aerospace industry are taking efforts to make flight operations more cost-effective, which has led to an increased demand for lightweight aircraft. This increased demand is expected to provide several growth opportunities for the remote electronic unit market over the next five years. Miniaturization of components and an increased need for systems and components based on wireless communication technologies in the aerospace industry is expected to drive the growth of remote electronic unit market between 2017 and 2022.
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Based on the application, the flight control surface segment is expected to lead the remote electronic unit market during the forecast period. This growth of this segment can be attributed to the use of advanced fly-by-wire systems in primary and secondary flight control systems that enable pilots to adjust and control the flight attitude of an aircraft.
On the basis of end use, the aftermarket segment of the remote electronic unit market is projected to witness the highest growth during the forecast period. Aftermarket primarily refers to the maintenance and upgrade of an aircraft. Parts included in the aftermarket are supplied once the aircraft is delivered to airlines or operators. The remote electronic unit aftermarket caters to the maintenance, repair, and overhaul services related specifically to remote electronic systems.
On the basis of platform, the spacecraft segment of the remote electronic unit market is projected to witness a higher growth than the aircraft segment during the forecast period from 2017 to 2022. The growth of the spacecraft segment of the market can be attributed to the increasing number of space constellations in the recent years. The number of remote electronic units to be used in a spacecraft majorly depends on the dimension of the spacecraft and the number and type of functions that a remote electronic unit is required to perform.
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North America is expected to lead the remote electronic unit market during the forecast period. The high disposable income of consumers in North America has contributed to a rise in air travel, which, in turn, has led to an increase in air passenger traffic. This rise in air passenger traffic has led to an increase in the number of aircraft deliveries in this region, which is consequently expected to propel the demand for remote electronic units.
Major companies profiled in the remote electronic unit market report are Parker Hannifin (US), Rockwell Collins (US), Curtiss-Wright (US), and Crisa (Spain).
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