Adoption of next-generation flight management systems in avionics is expected to drive the avionics market growth. The avionics market size is expected to grow from USD 68.5 billion in 2019 to USD 86.9 billion by 2024, at a CAGR of 4.86% during the forecast period. In the last decade, unmanned aircraft (UA) were used in numerous defense as well as commercial applications. The increase in demand for their integration into the civil airspace has led to the development of dedicated automated solutions. For this purpose, NG-FMS have incorporated cooperative and non-cooperative Sense and Avoid (SAA) systems, which are the key technologies that aid UAVs to access non-segregated airspace.
Flight management systems in hardware system segment is expected to grow at the highest CAGR during the forecast period. Flight management systems in hardware system segment is expected to be the fastest-growing during the forecast period.This system serves as the primary interface for the pilot and enhances flight planning operations.
It also includes an aeronautical navigation database for controlled flight operations, which assists in increasing fuel and time efficiency by optimizing route plans for any airport, without the need for ground-based infrastructure.
Narrow-body aircraft (by platform) in commercial aviation segment is expected to lead the market for avionics during the forecast period. Narrow-body aircraft is expected to be the largest commercial aviation platform segment during the forecast period.With the increase in air travel, the demand for narrow-body aircraft is expected to grow across the world.
In today’s competitive market, reliability, fuel efficiency, low maintenance & operating costs, and high-value returns have become a priority for aircraft operators. This has enhanced the scope for advancements in aircraft systems such as avionics.
The Asia Pacific avionics market is expected to grow at the highest growth rate during the forecast period. The avionics market in the Asia Pacific region is projected to grow at the highest CAGR market during the forecast period.Countries in this region are upgrading their capabilities by undertaking developments in the field of aircraft emergency & electrical systems.
The rise in demand for low cost carriers (LCCs) in the Asia Pacific region is one of the factors driving the growth of the avionics market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation & technology directors, and executives from various key organizations operating in the avionics marketplace. •?By Company Type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20% •?By Designation: C-level Executives: 35%, Directors: 25%, and Others 40% •?By Region: North America: 45%, Europe: 20%, Asia Pacific: 30%, and RoW: 5%
The avionics market comprises major solution providers such as Safran (France), Curtiss-Wright (US), Esterline Technologies (US), Honeywell (US), Meggitt (UK), Thales Group (France), and United Technologies Corporation (Collins Aerospace) (US). The study includes an in-depth competitive analysis of these key players in the avionics market, with their company profiles, recent developments, and key market strategies.
Research Coverage: The study covers the avionics market and aims at estimating the market size and growth potential across different segments, such as end user, system, platform, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report The report will provide market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall avionics market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Our reports have been used by over 10K customers, including:
The aircraft weighing system market is expected to grow at US$ 102.76 million in 2019 and is projected to reach US$ 133.03 million by 2027; it is expected to grow at a CAGR of 4.2% from 2020 to 2027. Aircraft such as wide-body, narrow-body, and general aviation are engineered and certified to operate within certain weight range, and balance...
The Africa aviation MRO market is anticipated to register a CAGR of 5.44% during the forecast period. - The African aviation industry lags compared to the rest of the world in terms of both aviation demand and supply. By the end of 2019, Africa has only 258 commercial aircraft on order, the least in the world. African fleet growth is...
Aircraft Cabin Interior Market Research Report by Type (Aircraft Cabin Lighting, Aircraft Galley, Aircraft Interior Panels, Aircraft Lavatory, and Aircraft Seating), by Aircraft (Business Jets, Narrow Body Aircraft, Regional Transport Aircraft, Very Large Aircraft, and Wide-Body Aircraft), by Material, by End User - Global Forecast...
Aircraft Line Maintenance Market Research Report by Services (Aircraft on Ground Service, Component Replacement & Rigging Service, Defect Rectification Service, Engine & APU Service, and Line Station Setup & Management Service), by Type (Routine Check and Transit Check), by Aircraft, by Technology - Global Forecast to 2025 - Cumulative...
Aircraft Wire & Cable Market Research Report by Fit (Linefit and Retrofit), by Type (Aircraft Cable, Aircraft Harness, and Aircraft Wire), by Aircraft, by Application - Global Forecast to 2025 - Cumulative Impact of COVID-19 Market Statistics: The report provides market sizing and forecast across five major currencies...
The global aircraft valve market was valued at US$ 4192.4 million in 2019 and is projected to reach US$ 6084.9 million by 2027; it is expected to grow at a CAGR of 6.2% during 2020–2027. The positive growth outlook of the global aviation industry and the surging number of air passengers across developing regions are the key factors...
The Europe aircraft floor panel market is expected to grow from US$ 186.63 million in 2019 to US$ 325.57 million by 2027; it is estimated to grow at a CAGR of 9.7% from 2020 to 2027. Highlighting aircraft orders and delivery volumes are expected to boost the growth of the Europe aircraft floor panel market.The Europe aviation industry is...
The aviation life rafts market was valued US$ 709.40 million in 2019 and is expected to reach US$ 1,524.52 million by 2027; it is estimated to grow at a CAGR of 9.9% during 2020–2027. The aircraft manufacturing industry is experiencing substantial growth owing to the growing demand for general aviation, commercial, and military aircraft worldwide....
The global special mission aircraft market size is projected to grow from USD 13.5 billion in 2020 to USD 18.3 billion by 2025, at a CAGR of 6.2% from 2020 to 2025. The market is driven by various factors, such as increasing usage of UAVs in military operations, growing need for air-to-air refueling to support overseas deployment, and rise...
The commercial aircraft avionics market is anticipated to register a CAGR of 16.08% during the forecast period. - The commercial aircraft avionics market is primarily dependent on the demand for new aircraft and upgrades of avionics for existing aircraft. The aviation industry is growing, and the procurement of new aircraft is being...
By continuing to use this site you consent to the use of cookies on your device as described in our Cookie Policy unless you have disabled them.
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.