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Avionics: Business and Personal Jets, Market Analysis and Outlook
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The 48-page research note AB081 presents business jets and
avionics market analysis, including a detailed avionics market
and systems forecast from 2008 to 2020. Business jets are
essential, efficient and productive tools of the modern global
economy, but the current economic and financial crisis places
increasing cost pressures on owners and users alike. Major
losses in the US and European economies will impact the
immediate market outlook which could take five years to
Additionally, recent media mischaracterization about business
jets has further affected the immediate outlook. The new
generation of aircraft introduced since the late nineties has
been a productivity multiplier, enabling executives to reach
customers and suppliers globally. At the core of this
revolution, integrated avionics systems have grown dramatically
in terms of their capabilities and reliability, providing unique
operating reach to users while significantly improving safety.
This nearly $2 billion annual market is witnessing rapid
technology changes that few companies can master entirely.
“While we have seen Garmin (NASDAQ:GRMN) emerging as a strong
player in the general aviation segment and the personal jets
market, Rockwell Collins (NYSE:COL) and Honeywell (NYSE:HON)
will maintain their control over the larger business jets
The only potential threat to these two companies may come from
an established avionics player such as Thales (EPA:HO).” said
Michel Merluzeau, G2 Solutions’ Managing Partner. While
Honeywell and Rockwell Collins control well over 80% of the
forward-fit market, Thales might capture 5-10% of this segment
by 2020. Universal Avionics, Esterline CMC Electronics
(NYSE:ESL), L-3 (NYSE:LLL) and Chelton Flight Systems have
respective technological and market strengths, but will find it
difficult to migrate upmarket as technology evolution and OEM
cost pressures will continue to increase. “Universal Avionics
will thrive in the aftermarket, but long-term viability is
questionable based on its current structure and product
offering” says Merluzeau. In the current environment,
acquisitions could accelerate especially among those companies
hurt by the Eclipse program collapse such as Avidyne and
Innovative Solutions & Support (NASDAQ:ISSC). The report
confirms that industry should brace for two to three very
difficult years with deliveries expected to drop at least thirty
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