Remote Electronic Unit (REU) Market
Remote Electronic Unit (REU) Market (Platform: Spacecraft and Aircraft (Large Commercial, Business Jets, and Military); Application: Flight Control Surface, Landing Gear, Fuel Systems, Ice Protection Systems, and Others; Sales Channel: OEMs and Aftermarket; and End Use: Government and Commercial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Remote Electronic Unit Market: Increased Application in Aircraft over Spacecraft to Propel Growth
Remote electronic units are used in aircraft and spacecraft platforms, in a variety of applications such as landing gear, flight control surfaces, fuel systems, and ice protection systems. Due to increasing deliveries of aircraft, globally, and the rapidly expanding aviation sector, the aircraft industry is set to remain a significant end user for players in the global remote electronic unit market. In 2018, the aircraft platform segment held the largest share in the REU market, accounting for around four-fifth of the total market share by revenue, and is set to expand moderately to reach the ~US$ 2.8 Bn mark by the end of the forecast period of 2027.
The application of REUs in the maintenance of spacecraft, which accounts for a mere one-fifth of the total revenue of the market, is set to expand at a slow pace of ~3% during the forecast period. Recent years have seen phenomenal advancements in space exploration, with multiple companies developing advanced tech in the aviation industry in the race to get further than their competitors. However, due to the sluggish pace of growth of this industry, its impact on the global remote electronic unit market is expected to be slow.
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Rising Air Travel Contributes to Market Expansion in a Big Way
In recent years, there has been a rise in air travel activities, globally, which has significantly contributed to the growth of the remote electronic unit market. Consequently, there has been a spike in the demand for remote electronic units, particularly from developing countries in Asia Pacific. Stakeholders in the remote electronic unit are taking advantage of this trend and ramping up their production capabilities to cater to the rising air traffic volume, which has had a positive impact on the growth of the REU market.
Enhancing Digital Fly-by-wire Systems to Shape Further Evolution of Market
Fly-by-wire systems that replace conventional manual flight controls have been around since the first half of the 20th century in the form of analog systems, designed to increase the ease of control over an aircraft. They eliminate the complexity of the mechanical circuit of electromechanical flight control systems. Digital fly-by-wire systems that were developed as a step above analog systems, are being updated as a fast pace, as the demand for fuel-efficient aircraft and efficiency in flight control has become the focus of product innovation. The fly-by-wire systems that are being used now offer the benefit of performance reliability and safety, and increased efficiency of the flight under normal conditions.
With modern fly-by-wire systems evolving into intelligent flight control systems, this is set to have a significant impact on the further evolution of the global remote electronic unit market during the forecast years.
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North America - Manufacturing Hub, to Remain Prominent Region
Due to the presence of a number of manufacturers in the region and its evolution as a marketing hub, North America accounts for a significant share of the global REU landscape - ~40% in 2018. While the market is growing at a considerably slower pace than other regional markets, it is expected to hit the ~US$ 1.4 Bn mark by the end of the forecast period. Also, backing this is the rise in the demand from both, the commercial and governmental sectors for remote electronic units, which has an indirect, positive impact on the growth of the market as well.
However, fastest to grow in the global REU landscape is the market Asia Pacific, at a value CAGR of ~4%, it is being anticipated to occupy one-fifth of the total market share by the end of 2027. Increased air traffic and expanding production in the region are likely to play a huge part in the growth of the market.
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The remote electronic unit market is fairly consolidated, with over 60% of the total market share being occupied by significant players such as BAE Systems, Curtis Wight Corporation, The Leibherr Group, Parker Hannifinn Corporation, Collins Aerospace, Thales Group, Moog, and Safran SA. According to analysts at Transparency Market Research, the REU market is expected to grow steadily over the forecast period, which can be mainly attributed to the rise in air travel activities, globally. Stakeholders in the REU market are capitalizing on this trend and ramping up their production capabilities, and are likely to witness considerable gains in the foreseeable future.
The regional markets in North America and Europe continue to offer a plethora of opportunities, even as APAC emerges as a significant market. Manufacturers should look to make inroads into these regions to expand and strengthen their presence in the global remote electronics landscape, which will help them do extremely well in the global remote electronic unit market.
Remote Electronic Unit (REU) Market: Overview
- According to Transparency Market Research’s latest research report on the global remote electronic unit (REU) market for the historical period of 2017–2018 and forecast period of 2019–2027, rising demand for aircraft led by spike in global passenger traffic and increasing demand for defense aircraft for use in remote electronic units (REUs) are expected to boost the global REU market during the forecast period.
- In terms of revenue, the global remote electronic unit market is estimated to increase from a value of ~US$ 2.7 Bn in 2019 to reach ~US$ 3.5 Bn by 2027, expanding at a CAGR of ~4% throughout the forecast period.
Rising Demand for Aircraft: Key Driver of Remote Electronic Unit Market
- In recent times, there has been a huge spike in the demand for commercial passenger aircraft. This growing demand is due to the ever-increasing volume of global passenger traffic.
- According to the International Air Transport Association (IATA), global passenger traffic rose in 2018 over that in 2017.
- Moreover, the share of Europe-based carriers in international traffic increased in 2018 over that in the previous year.
- Asia Pacific airlines traffic also witnessed a rise in 2018 over the previous year, driven by increase in the number of route choices for travelers and healthy economic growth in the region.
- To cater to this increasing passenger traffic, aircraft manufacturers are ramping up their production capacities through various new programs, such as the Bombardier C series, Airbus A350 and A320neo, and Boeing 737 Max; these are predominantly used for air travel.
Increasing Stability and Better Handling Capabilities with Advanced Fly-by-Wire System: Latest Market Trend
- Rising demand for fuel-efficient aircraft and lightweight flight control systems are primary factors pushing manufacturers to design and develop advanced flight control systems for use in the aircraft industry.
- Fly-by-wire flight control systems use computers to determine and process flight control inputs generated by the pilot or autopilot, and transmit corresponding electric signals to flight control surface actuators. This arrangement replaces mechanical linkage, which means that, inputs by the pilot do not directly move the control surfaces.
- As an extension of modern digital fly-by-wire flight control systems, a system called IFCS (intelligent flight control system) is being designed. This upcoming flight control system would provide increased safety to crew and passengers, as well as optimize aircraft performance under normal operating conditions.
- The key advantage of this system is that, it would allow the pilot to control an aircraft even under failure conditions that would normally cause it to crash.
Stringent Government Regulations - Major Challenge for REU Market
- Various national aviation authorities, aviation organizations, and working groups have laid down different directives for ensuring and accepting the rules and regulations with their requirements in terms of aircraft suitability.
- Furthermore, various periodic reviews, renewals, licenses, approvals, certifications, and other stringent norms about airworthiness, imposed by several civil aviation authorities or national aviation authorities, as well as emergency airworthiness directives, can delay the manufacture of aircraft components.
- These factors are a huge challenge for players operating in the global remote electronic unit market space.
Global Remote Electronic Unit Market: Competition Landscape
- Detailed profiles of the providers of remote electronic units have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies.
- 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
Global Remote Electronic Unit Market: Key Developments
Key providers of remote electronic units, such as Becker Avionics GmbH and Liebherr-International Deutschland GmbH, are focusing on new product innovation and development to win more customers. Some other key developments in the global remote electronic unit market are as follows:
- In 2019, Aerospace Lindenberg GmbH, a subsidiary of Liebherr-International Deutschland GmbH, was selected by Boeing for the supply of nose wheel steering remote electronic units for its 787 Dreamliner.
- In 2018, Becker Avionics GmbH received certification for the company’s BXT65XX Mode S transponder, designed specifically for the rigorous flying environment characteristic of helicopter operations. Paired with FreeFlight Systems’ 1203C SBAS/GNSS sensors, these remote-mounted solutions provide helicopter operators with a complete and cost-effective way to equip with ADS-B.
In the report on the global remote electronic unit market, we have discussed individual strategies, followed by the company profiles of providers of REUs. The ‘Competition Landscape’ section has been included in the report on the remote electronic unit market to provide readers with a dashboard view and company market share analysis of key players operating in the global remote electronic unit market.
Remote Electronic Unit (REU) Market: Scope of the Report
A new study on the global remote electronic unit (REU) market was published by Transparency Market Research (TMR). It presents detailed information of key market dynamics, including the market drivers, trends, and challenges for the global remote electronic unit market, as well as its structure. TMR’s study offers valuable information on the global remote electronic unit market in order to illustrate how the market is expected to expand during the forecast period, i.e. 2019–2027.
Key indicators of market growth, which include value chain analysis and compounded annual growth rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the global remote electronic unit market.
An extensive analysis of the business strategies adopted by leading market players is also featured in TMR’s study on the global remote electronic unit market. This can help readers understand the key factors responsible for growth of the global REU market. In this study, readers can also find specific data on avenues for qualitative and quantitative growth of the global remote electronic unit market. This data would guide market players in making apt decisions in the near future.
Key Questions Answered in TMR’s Study on Global REU Market
- What would be the Y-o-Y growth trend of the global remote electronic unit market from 2019 and 2027?
- What is the influence of the changing trends in REU types on the global remote electronic unit market?
- Would Asia Pacific continue to remain the most profitable regional market for providers of remote electronic units in the next few years?
- Which factors would hinder the global REU market during the forecast period?
- Who are the leading companies operating in the global remote electronic unit market?
A unique research methodology is utilized by TMR to conduct comprehensive research on the global remote electronic unit market, and arrive at conclusions on future growth prospects for the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.
Secondary research sources referred to by analysts during the production of the report on the global remote electronic unit market include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who have contributed to the production of TMR’s study on the global REU market as a primary research source.
These primary and secondary sources provided exclusive information during interviews, which served as a validation from leading players operating in the global remote electronic unit market. Access to an extensive internal repository as well as external proprietary databases allowed this report to address specific details and questions about the global remote electronic unit market with accuracy. The study also uses a top-down approach to assess the numbers for each segment, and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on future prospects of the global remote electronic unit market more reliable and accurate.
Segmentation of Global Remote Electronic Unit Market
TMR’s study of the global remote electronic unit market divides the market into five segments based on platform, application, end use, sales channel, and region. Changing market trends and other crucial market dynamics associated with these segments of the global remote electronic unit market have been discussed in detail in TMR’s study.