Remote Electronic Unit (REU) Market to Reach a Value of ~US$ 3.5 Bn by 2027: Transparency Market Research
Global Remote Electronic Unit (REU) Market: Introduction
Transparency Market Research delivers key insights on the global remote electronic unit (REU) market. In terms of revenue, the global remote electronic unit market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in its report on the global remote electronic unit market.
Remote electronic units (REUs) are distributed electronics that are mounted on or close to the actuator to gain local control over the actuator. Remote electronic units are primarily used in aircraft systems to attain precise control over closed-loop actuation. Thus, they play a vital role in the functioning of aircraft control systems. For instance, they monitor ice accretion; ensure that landing gears are deployed correctly; monitor fuel levels; get the right pilot command to the right control surface; and perform other control functions. In addition to this, they allow old transducers to communicate with modern glass cockpits, and they work to a high level of reliability. Moreover, they are designed for non-pressurized, in-wing applications. The number of REUs required on an aircraft depends upon the architecture of the fight control system. Moreover, remote electronics units can control one or more electromechanical or hydraulic actuators. In the event of failure of the fight control computer, REUs can take over the primary control of aircraft surfaces.
Rising Demand for Aircraft Led by Spike in Global Passenger Traffic and Increasing Demand for Defense Aircraft to Drive Market
In recent years, there has been significant spike in the demand for commercial passenger aircraft. This growth can be attributed to the growing global passenger traffic. In order to cater to the rising passenger traffic, aircraft manufacturers are ramping up their production through several new programs that include Bombardier C series, Airbus A350 and A320neo, and Boeing 737 Max, which are predominantly used for air travel. According to an estimate made by Boeing in July 2018, a prominent aircraft manufacturer, the global air travel sector would require more than 42,000 new airplanes by 2037, owing to the high demand arising out of strong economic growth, growing middle class, and increasing consumer spending across the world. This, in turn, is likely to have a positive impact on the global REU market during the forecast period.
Global Remote Electronic Unit Market: Prominent Regions
North America is the dominant region of the global remote electronic unit market. Growth of the market in the region can be attributed to increasing investments in the aerospace & defense industry in the region. In Asia Pacific, the demand for military equipment is increasing, owing to geopolitical tensions in the region, which is driving defense spending across the globe. The governments of India, Japan, and China have started increasing their defense budgets to address security threats and counter terrorism. Also, technological advancements are changing the way wars are fought, and hence, the air and maritime domains are increasingly getting concerned. Previously, the global aerospace & defense industry was led by the U.S. However, currently, France, China, Japan, India, the U.K., and countries in the Middle East are contributing to the global industry. Furthermore, companies operating in regions with high growth potential are increasing their investments in mergers and acquisitions to broaden their product portfolios. This is likely to boost the demand for REUs in these regions from 2019 and 2027. The REU market in Europe is estimated to witness significant growth during the forecast period, owing to increasing stability and handling qualities offered by advanced fly-by-wire systems in the region. The remote electronic unit markets in the Middle East & Africa and South America are expected to witness moderate growth in the near future.
Global REU Market: Key Players
Key players operating in the global remote electronic unit market are BAE Systems plc, Thales Group, Parker-Hannifin Corporation, Safran S.A., Moog Inc., Curtiss-Wright Corporation, Collins Aerospace, Collins Aerospace, Becker Avionics GmbH, and CRISA.
Global Remote Electronic Unit Market: Segmentation
Remote Electronic Unit Market by Platform
- Aircraft (Large Commercial, Business Jets, and Military)
Remote Electronic Unit Market by Application
- Flight Control Surface
- Landing Gear
- Fuel Systems
- Ice Protection Systems
Remote Electronic Unit Market by End Use
Remote Electronic Unit Market by Sales Channel
Remote Electronic Unit Market by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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