Data Bus Market Forecast | 2022-2028
Data Bus Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2028 See less
Data Bus Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2028
Market is segmented by Protocol (MIL-STD-1553, AFDX/ARINC 664, ARINC 429/629, CAN, TTP), Application (Marine, Commercial Aviation, Military Aviation, Automotive), Component (Micro couplers, Cables, Connectors, Accessories), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The U.K., Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, Israel, and Others]).
The Data Bus Market was estimated at US$ 17.5 Billion in 2021 and is expected to grow at a CAGR of 4.3% during 2022-2028 to reach US$ ~21.3 billion in 2028.
The internal memory path created for data transfer is referred to as the "data bus." A computer's internal connector called a "data bus" enables the transfer of data. Data buses have grown into a variety of different forms in personal computers and other hardware. The data bus is frequently employed in numerous fields, including those of automotive, marine, military, and commercial aircraft. The likelihood of accidents caused by pilot error can be decreased through ongoing upgrading of military aircraft, which can also improve mission capability and situational awareness.
Even as the COVID-19 crisis causes issues across sectors and decreases high technology investment, tech companies are increasing their focus on high-demand technologies and coming up with innovative ways to service their customers. The epidemic has caused most airlines to be grounded, current backlog orders to be delayed, and decreased requirements. Since less maintenance is currently needed, there is also a decrease in the need for replacement parts. Governments will need aircraft to support economic recovery, link manufacturing centres, and promote tourism after the COVID-19 pandemic has been contained. As a result, the industry will expand once more.
Investments in updating outdated aircraft's equipment are being driven by rising military spending in emerging nations. There is an increasing need for technologically advanced military aircraft to replace traditional military aircraft because of technical challenges with various structures, as well as problems with propulsion, connection, and other systems. to deal with the constantly expanding list of hazards and entirely new mission objectives. Fully interconnected airlines may utilise real-time data to enhance customer experience, streamline operations in the flight deck, and shorten timeframes.
Thus, the need for data bus has increased because of several aircraft manufacturers upgrading their aircraft to add network capabilities that allow in-flight connection. In the next years, the growth of the worldwide market is projected to be further boosted by the expansion of the aerospace and military sectors. Military aviation's adoption of FlexRay protocols as well as organic and inorganic growth strategies is anticipated to accelerate the expansion of the global data bus market. Commercial and military aircraft are further factors driving the growth of the global data bus market. The industry is also being driven by the demand for full duplex switching ethernet, monitoring systems, cockpit systems, flight control, navigation systems, air data systems, communications systems, and central maintenance systems to be integrated into a single modular avionics system.
The requirement for the main airline manufacturers to have a successful business model is influenced by the increase in passenger volume. The acquisition of manned and unmanned helicopters, ground vehicles, and aeroplanes, as well as modernization of military aviation applications, are anticipated to support the expansion of the global market. The strength and adaptability of these cables, as well as the rising need for new aircraft, considerably boost the market's expansion. For radio data transfer and air traffic management during navigation and landing, high-frequency wires are used. Such cables have yet to be widely adopted, though. Additionally, the industry is hampered by the varied levels of design complexity and manufacturing costs related to high-tech cables utilised for data transmission.
Several investments/guidelines in the industry have been directed in recent years, which would boost the overall Market. Some of them are:
Based on protocol, the data bus market has been divided into ARINC 429/629, CAN, TTP, AFDX/ARINC 429/629, and MIL-STD-1553. In 2020, the market is anticipated to be led by the ARINC 429/629 category. The use of these protocols in important applications, namely marine and aviation, to achieve high accuracy, can be credited for this growth.
During the anticipated period, the marine application segment is anticipated to dominate the data bus market. Due to the upgrading of obsolete military naval systems—which entails integrating new technology into the current naval systems—it is anticipated to have the highest proportion of the market. As it connects all on-board computers and sensors, the data bus plays a crucial role in naval systems.
North America is likely to maintain its supremacy in the Data Bus Market throughout the forecast period. Due to environmental legislation and green efforts, the electric car sector has expanded, which has contributed to the market expansion in North America. These investments are intended to improve the defence and surveillance capabilities of the armed forces.
The economies of the U.S. and the U.K. are slowing down. Defense funding has been significantly cut by the American government. The US Department of Defense estimates that in 2018, the US accounted for all but USD 650 billion of global defence spending. Along with the United Kingdom and the United States, the European Union is considering cutting its defence spending as it emerges from an economic crisis. A data bus's lifespan ranges from 35 to 45 years, after which time it is updated.
Concurrently, the Data Bus Market in the Asia Pacific is anticipated to expand at the highest CAGR during the forecast period. Furthermore, two good tendencies in this region are market expansion and strong profitability. Emerging markets with respectable growth rates include the Middle East and South America. To stop the demand for Data Bus in South America and the Middle East, a protection system is required.
There is stiff competition in the data bus market. The growth of the companies is directly dependent on the industry conditions and government support. These companies differentiate their data bus based on their quality and penetration in the target and emerging markets. Also, some major mergers and acquisitions in the industry recently have significantly influenced the competitive dynamics. For example:
The overall competitive landscape has been affected due to these mergers and acquisitions. The following are the major players in the market:
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The market was estimated at US$ 17.5 Billion in 2021 and is expected to grow at a CAGR of 4.3% during 2022-2028 to reach US$ ~21.3 billion in 2028.
The major players in the market are TE Connectivity (Switzerland), Pipavav (India), Volkswagen (Germany), Amphenol Corporations (U.S.), Fujikura Ltd. (Japan), Volvo (Sweden), Corning Inc. (U.S.) , Airbus (France), Boeing (U.S.), Newport News Shipbuilding (U.S.), Ball Corporation (US), Honeywell International Inc. (US), Lockheed Martin Corporation (US), Maxar Technologies Ltd. (US), Mitsubishi Electric Corporation (Japan), Northrop Grumman Corporation (US), Sierra Nevada Corporation (US), Thales Group (France).
North America is likely to maintain its supremacy in the Data Bus Market throughout the forecast period.
The Data Bus Market in the Asia Pacific is anticipated to expand at the highest CAGR during the forecast period.
During the anticipated period, the marine application segment is anticipated to dominate the data bus market.