Avionics Market Report Scope & Overview:

The Avionics Market Size was valued at USD 79.29 billion in 2022 and is expected to reach USD 116.26 billion by 2030 with a growing CAGR of  4.9% over the forecast period 2023-2030.

Avionics are high-tech systems found in aircraft, artificial satellites, and spacecraft. The aircraft flight computer system is made up of a number of display units that are outfitted to perform flight operations. Surveillance, communication, navigation, and automatic flight management systems are examples of these systems. Flight Control & Management System, Communication, Navigation & Surveillance Systems, Monitoring/Glass Cockpit, Electrical & Emergency Systems, In-flight Entertainment, and Mission/Tactical System are the product classifications. Avionics is used in a variety of applications, including commercial, defence, and unmanned aerial vehicles.

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The Avionics Market is expected to be driven by growth in the retrofit aircraft market, scheduled aircraft maintenance operations, and significant fuel savings over the forecast years. The Global Avionics Market report provides a comprehensive analysis of the market.

MARKET DYNAMICS

KEY DRIVERS

• The mandate for automatic dependent surveillance has been broadcast, resulting in a high demand for avionics.

• Avionics Adoption of Next-Generation Flight Management Systems

RESTRAINTS

• Technological advancement is a critical factor in the demand for international avionics systems.

• Increasing Avionics Vulnerability to Cyber attacks.

OPPORTUNITIES

• Increasing Avionics Use of Advanced Navigation and Surveillance Technologies

• Acas Implementation in General Aviation Aircraft

CHALLENGES

• Components have a high manufacturing cost.

• Embedded System Design for Military Applications Has Become More Complex

THE IMPACT OF COVID-19

COVID-19 is a global public health emergency that has affected practically every business, and the long-term repercussions are projected to have an influence on industry growth during the forecast period. Our ongoing research expands our research framework to include underlying COVID-19 issues and potential next steps. The report provides insights on COVID-19 while taking into account changes in consumer behaviour and demand, purchasing patterns, supply chain re-routing, dynamics of current Avionics Market forces, and significant government interventions. The updated study offers insights, analysis, estimates, and forecasts on the impact of COVID-19 on the Avionics Market.

The market is divided into five product categories: Flight Control & Management System, Communication, Navigation & Surveillance Systems, Monitoring/Glass Cockpit, Electrical & Emergency Systems, In-flight Entertainment, and Mission/Tactical System. Due to an increase in air travel, the Flight Control & Management System segment is expected to hold the largest market share.

The market is divided into three segments based on application: commercial, defence, and unmanned aerial vehicles. During the forecasted period, the commercial segment is expected to have the highest CAGR. The factors can be attributed to increased international trade and tourism around the world, rising middle-class disposable income, and increased air travel.

The commercial aviation industry has expanded rapidly in recent years. This expansion can be attributed to factors such as increased air travel, rising middle-class disposable income, and increased international trade and tourism around the world. Strong growth in this sector has led to an increase in aircraft orders to meet rising air passenger traffic. Manufacturers are currently focusing on avionics components to develop more reliable, accurate, and efficient products. Continuous software advancements have altered the human-machine interface of avionics.

Hardware operates as a standalone unit, providing a computing platform as well as various interfaces to other avionics. It can also be included as a feature on a variety of platforms, such as integrated modular avionics cabinets (IMA). The primary human/machine interface for data entry and information display is provided by the control display unit. The hardware provides the aircraft with primary navigation, flight planning, optimized route determination, and en route guidance. It performs navigation, flight planning, trajectory prediction, performance computations, and guidance. The flight management system communicates with several other avionics systems to perform these functions.

KEY MARKET SEGMENTATION

By Platform

• Commercial

• Military

• Business Jets & General Aviation

• Helicopters

By Product

• Flight Control And Management System

• Communication

• Navigation And Surveillance Systems

• Monitoring/Glass Cockpit

By Application

• Commercial

• Defense

• UAV

By End User

• OEM

• Aftermarket 

By System

• FMS

• CNS

• Health Monitoring

• Electrical & Emergency and Software

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REGIONAL ANALYSIS

During the forecast period, North America is expected to be the largest avionics market. Another factor influencing the growth of the North American avionics market is the increasing demand for aircraft for commercial applications, as well as their increasing utility in the defence sector for transport and surveillance.

KEY PLAYERS

The Major Players are United Technologies Corporation, Collins Aerospace, Safran, Curtiss-Wright, Esterline Technologies, Honeywell, Meggitt, Thales Group, L3 Technologies, Rockwell Collins, and other players.

United Technologies Corporation-Company Financial Analysis