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How U.S. will emerge as major revenue pocket for aerospace & defense C-class parts market over 2019-2025?

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Exponential growth of the commercial aircraft sector has been driving aerospace & defense C-class parts market. Passenger aircrafts orders have witnessed sharp gains owing to the rise in consumer spending on air travel complemented by the minimized air fares for shifting focus on middle class population.

Strong economic growth of the emerging nations led to improved standard of living, thereby expanding consumer base of the airline industry. Furthermore, the aerospace & defense industry adheres to stringent regulation concerning the safety of the aircraft operations, which requires timely maintenance and repair of the aircrafts. This would in turn, further strengthen aerospace and defense C-class parts market forecast owing to the increasing commercial air traffic.

How will the increasing military & defense expenditures stimulate overall aerospace and defense C-class parts market outlook?

Constant increase in defense budget attributed to the rise in geopolitical tensions has led to an arms battle among some of the major economies like Russia, United States, China, and India. A flagship aviation magazine, Aviation Week, predicts that in-service fleet aircrafts will increase significantly by the end of 2027. Reportedly there were 41,605 in service aircrafts in 2017 which are expected to grow by 1,230 by 2027. Moreover, there is demand for 834 aircrafts and helicopters by multiple defense forces around the globe.

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How will the increased production rates of commercial aircrafts impel aircraft airframe market share?

Aircraft airframe segment held the largest share owing to the increased production rates of commercial aircrafts by major players like Boeing and Airbus. Improved business policies enforced by major airliners have led to minimized airfares attracting more air flyers. The expansion of the consumer base preferring air travel has also proved highly beneficial for the airline industry, thus creating more demands for new aircrafts.

Which region will prove to be promising revenue ground for aerospace and defense C-class parts  market?

North America accounted for more than 45% overall market share in 2018, owing to the presence of major aircraft and engine manufacturers including Boeing and Lockheed Martin. Ever expanding investment in the military and other defense activities will further propel the product demand over the years ahead. In fact, North America is anticipated to dominate the global aerospace & defense C-class parts market landscape over the forecast period.

Author NameAmol Kothekar

Mobile POS terminals market to witness a staggering double digit CAGR of 18% over 2018-2024, cloud-based solutions to drive the industry demand

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The exponentially expanding e-commerce sector has indeed brought a disruption in the operation fashion of traditional brick and mortar stores. Mobile POS terminals market, a major beneficiary of this change, is gaining a substantial traction in this transformative merchandizing landscape. The increasing penetration of EMV contactless payments in digitized financial transaction is undeniably boosting global mobile POS terminals industry share. Payment service providers are scrupulously planning to bring forth an array of products that not only boost their day to day sales but also improve the consumer experience. Concurrently, many central banks, payment networks and other governmental bodies across the globe are also implementing mobile POS systems by virtue of its extensive benefits like ease of installation, less settlement time, and scalability of solution. Reportedly, the number of users in mobile POS payments would be more than 970 million by 2022.

Germany mobile POS terminals market size, by application, 2017 & 2024 (Thousand Units)
Germany mobile POS terminals market size, by application, 2017 & 2024 (Thousand Units)

The commercialization potential of the entire business space is further coherent from the estimates brought forth by Global Market Insights, Inc. forecasting the worldwide mobile POS terminals market to exceed a valuation of USD 55 billion by 2024. While the growing inclination toward real-time payment modes create new challenges, joint venture and collaborative approaches can allow industry players to pool competencies. In fact, the trend has already established its presence in the competitive arena of the business space.

For instance, recently renowned payment solution provider, Network International, augmented identity specialist IDEMIA, and tech giant Mastercard have teamed up to introduce a mobile POS terminals project in UAE.  Reportedly, this collaborative project would allow UAE based Network International merchants to avail contactless payments via NFC (near-field communication) enabled smartphones. Network International is claimed to be the largest merchant acquirer in Middle East belt and the conjoint initiative, as per experts’ opinion, undoubtedly marks a significant step toward enhancing the region’s payment infrastructure. The initiative is rightly touted as the first of its kind in UAE mobile point of sale terminals market.

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Technology has always been a key enabler of advancements across the finance-oriented industry verticals. Mobile POS terminals market is probably one of the largest recipients of the transformed payment landscape. The pay-tech revolution is allowing modern digital payment modes to address payment efficiency, speed, risk detection as well as user experience, providing SMEs the access to tailor their operations in sync with the latest advancements. In this regard, cloud based mobile POS terminals industry is gaining a mass popularity across the globe primarily on account of its enlarged storage facility, ease of operation, and better functionality. Incidentally, this has encouraged a host of new vendors to include SaaS-based solutions in their offerings like Toast, Square, Springboard Retail, and Touchbistro.

Say for instance, NewNet Communication Technologies and its partner Neubits have recently made it to the headlines with the successful trial of STC (Secure Transaction Cloud) on AWS (Amazon Web Services) in Singapore. The trial has already set a major benchmark in mobile POS terminals industry after successfully testing transactions for mobile payments via smart POI devices, mPOS terminals, and web payment clients. Reported to be available on AWS marketplace, NewNet’s STC allegedly supports usages in private, public, or hybrid cloud infrastructure with advanced level point-to-point encryption, and data security. Inherently stimulated by such highly developed web-based payment models, cloud based mPOS terminals industry is slated to grow at a CAGR of 20% over 2018-2024.

While the growth rate is quite impressive, security concern is the single most factor holding back smartphone payment adoption across some of the geographies, leaving a perpetual impact on the mPOS terminals market share.  Armed with an intent to overcome the challenge, many retailers are now implementing combo terminals that are capable of reading both EMV and NFC transactions. All in all, with the remarkable proliferation in mobile technology and the growing consumer awareness toward contactless payments, mobile point of sale terminals industry is likely to be one of the most challenging yet remunerative business spaces to watch unfold.

Author NameSatarupa De