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Avionics Systems Market by End User (OEM, Aftermarket), System (FMS, CNS, Health Monitoring, Electrical & Emergency and Software), Platform (Commercial, Military, Business Jets & General Aviation, Helicopters) and Region - Analysis, Size, Growth, Investment and Forecast 2022 to 2027

Published: March, 2023
ID: 8825
Pages: 175
Formats: report pdf report excel report power bi report ppt

Avionics Systems Market Size & Growth 2022 - 2027:

Avionics Systems Market is valued at 68.3 Billion USD in 2021. The market is expected to grow at a CAGR of 4.87% over the forecast period to reach a valuation of 85.9 Billion USD in 2026.

The Avionics system is an electronic device used in aircraft for smooth operation. The enormous increase in air travel for business and the shift in people's perception of more leisure travel generate the need for commercial avionics systems in the industry. In-flight entertainment (IFE) has been implemented to increase the aspirations of air travelers for better amenities, services, and solutions.

Recent Development in the Avionics Systems Market:

  • In April 2019 UTC has been awarded a contract by the US Coast Guard to provide aircraft avionics for maritime law enforcement.
  • In March 2019 Honeywell has developed a new communication technology, the Aspire 200 satellite communications system, for use on the Bell B429 helicopter.
  • In March 2017 Thales received a contract from Air Asia for the supply of avionics such as FMS, T3CAS, Low Range Radio Altimeter, and Emergency Location Transmitters for A320neos aircraft.

Regional Presence of the Market:

North America is likely to remain the market leader for commercial avionics systems in the coming years. Among all these regions, North America dominated the global market, accounting for 42.4% of the total share in 2018. The area is also expected to continue its global dominance over the forecasting timeframe.

Market Drivers and Restraints:

Significant factors that have helped drive the Avionics Systems Market forward are-

  • Cutthroat competition among key players is expected to boost the market growth in global commercial avionics systems.
  • Improving economy and secure air travel has generated a high buzz for the major companies in the global market, which is expected to increase the rate of development to meet demand.
  • The demand for avionics systems is expected to proliferate in the near future due to its increase in the competitive index.
  • The entry cost for market players is comparatively low, making the market more attractive to new entrants.
  • Technological advancement is a crucial factor in the demand for international avionics systems.
  • Some developments in the past, such as ample space and a glass cockpit for enhanced in-flight entertainment, are factors driving the global market growth.

The factors holding the market back include:

The lack of willingness of clients to introduce modern systems due to the increased risk of cyber-attacks

AVIONICS SYSTEMS MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2026

Base Year

2020

Forecast Period

2022 - 2027

CAGR

4.87%

Segments Covered

By End User, By Systems, By Platform

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

  • North America
  • Europe
  • Asia-Pacific
  • Middle East and Africa
  • Latin America

Market Leaders Profiled

Safran (France), Curtiss-Wright (US), Esterline Technologies (US), Honeywell (US), Meggitt (UK), Thales Group (France), United Technologies Corporation (Collins Aerospace) (US), Thales (France).

Market Segmentation:

Avionics Systems Market by End User:

  • OEM
  • Aftermarket

Avionics Systems Market by Systems:

  • FMS
  • CNS
  • Health Monitoring
  • Electrical & Emergency and Software

Avionics Systems Market by Platform:

  • Commercial
  • Military
  • Business Jets & General Aviation
  • Helicopters

Avionics Systems Market Geographical Analysis:

  • North America
  • Europe
  • Asia-Pacific
  • Middle East and Africa
  • Latin America

Equipment functions as an individual unit offering a software screen and multiple interfaces to other avionics. It can also be integrated as a feature on various platforms, such as integrated modular avionics (IMA) cabinets. The Control Display Unit (CDU or MCDU) provides the primary human/machine interface for data entry and display of information. Hardware provides primary navigation, flight planning, and optimized route guidance and guidance to aircraft. This performs tasks such as navigation, flight planning, trajectory forecasting, performance computing, and guidance. To execute these tasks, the flight management system communicates with several other avionics devices.

Major Leading Key Players Involved in this market:

  1. Safran (France)
  2. Curtiss-Wright (US)
  3. Esterline Technologies (US)
  4. Honeywell (US)
  5. Meggitt (UK)
  6. Thales Group (France)
  7. United Technologies Corporation (Collins Aerospace) (US)
  8. Thales (France)

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