Parker Hannifin (US), BAE Systems (UK), Liebherr (Switzerland), and Curtiss-Wright (US) are Some of the Key Players Operating in the Remote Electronic Unit Market
A remote electronic unit includes data concentrator unit, a remote interface unit, and remote terminal unit, along with aircraft interface systems. An REU performs actuator control and monitoring functions from the flight control computer. 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. The Europe remote electronic unit market is expected to witness significant growth during the forecast period, due to a rise in the defense expenditure of various countries in the region. The growth of the Asia Pacific remote electronic unit market can be attributed to the increasing air passenger traffic, which has resulted in an increased demand for new aircraft in the region.
Parker Hannifin (US), BAE Systems (UK), Liebherr (Switzerland), and Curtiss-Wright (US) are some of the key players operating in the remote electronic unit market. These market players have been focusing on securing contracts as a part of their organic growth strategies in the remote electronic unit market. The core competencies of these market players include a wide geographical presence and the increasing investments in R&D activities.
Parker Hannifin is a major player in the remote electronic unit market. The company focuses on extensive R&D activities to gain contracts. The company caters to its international customers primarily through its aerospace systems and diversified industrial business segments. The growing international aerospace and defense sector can help the company to achieve growth in the domestic market. This, in turn, may drive the company’s business growth and sales volume. Its continued focus on developing cost-effective product helps it to adapt to the budgets of its customers. In 2015, Parker Hannifin received a contract from Sukhoi Civil Aircraft Company to design integrated fly-by-wire flight control systems that included flight control computers, cockpit controls, and integrated air management system.
BAE Systems is another major player in the remote electronic unit market. The company focuses on enhancing its existing product and services portfolio and developing new products and services to meet the requirements of its customers and address new market opportunities. For instance, in 2014 BAE Systems developed the advanced the fly-by-wire electronic flight control system for Embraer. This system provides a lightweight and highly-integrity solution that reduces fuel consumption and pilot workload.
Related Reports:
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
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