Global Avionics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Avionics Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global avionics market report has been segmented on the basis of system, platform, end user, and region.
Global Avionics Market: Overview
Avionics is a term made using two words aviation and electronics. It is an electronics system used spacecraft, airplanes, helicopters, and artificial satellites. Avionics systems include management of various systems, displays, navigation, and communication of aircraft.
Global Avionics Market: Dynamics
Increasing adoption of flight management systems as they offer enhanced safety, improves operational reliability and flexibility, and reduces the workload of the crew is a major factor driving growth of the global avionics market. In addition, the next generation flight management system also improves dispatch and simplifies maintenance are factors supporting growth of the global market. Growing retrofitting aircraft to reduce emission, increase fuel efficiency, etc. is another factor fueling growth of the target market. Furthermore, increasing adoption of real-time operating systems, and adoption of advanced navigation systems in aircraft is a factor expected to support growth of the global avionics market over the forecast period.
However, concerns regarding cyber-attacks is a factor that may hamper growth of the global avionics market. In addition, the high manufacturing cost of avionics systems is another factor that could affect growth of the global market. Nevertheless, adoption of the airborne collision avoidance system that reduces the risk of collision midair between two aircraft can create high revenue opportunities for players in the target market.
Global Avionics Market: Segment Analysis
Among the system segments, the hardware segment is expected to dominate the global market in terms of revenue in the near future. Hardware segments include that are used for surveillance, navigation, communication, flight management, health monitoring, tactical operations, etc. It also helps to improve the efficiency and reliability of the system. These are some of the factors fueling growth of this segment in the global market.
Among the platform segment, the commercial aviation segment is expected to register significant growth in terms of revenue over the forecast period. Growing aviation sector, especially for commercial applications and increasing adoption of electronics systems that help to improve the efficiency of the aircraft, are factors supporting growth of this segment in the target market.
Global Avionics Market: Regional Analysis
The market in North America expected to account for a major share in terms of revenue over the forecast period. Increasing use of commercial aircraft is a key factor driving growth of the target market in this region. In addition, presence of prominent players, coupled with increasing adoption of technologically advanced systems to improve safety and utility of aircraft are also factors supporting growth of the target market, especially in US and Canada in North America. Europe is expected to account for second-highest share in terms of revenue in the near future. Market in Asia Pacific is anticipated to register high growth in terms of revenue over the forecast period. Growing commercial aviation sector, owing to rising preference for air travel among end users is a factor propelling growth of the target market in countries in the Asia Pacific.
Global Avionics Market Segmentation:
Segmentation by System:
- Training & Simulation Software
- Flight Management Software
- Safety-Critical Airborne Software
- Aircraft Health Diagnostic Software
- Mission Flight Management Software
- Weather System
- Inflight Entertainment System
- Health Monitoring System
- Mission & Tactical System
- Surveillance System
- Emergency System
- Electrical System
- Navigation System
- Communication System
- Flight Management System
Segmentation by Platform:
- Military Aviation
- Commercial Aviation
- Business Jets & General Aviation
Segmentation by End User:
- Original Equipment Manufacturer
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Safran S.A.
- Cobham plc
- Curtiss-Wright Corporation
- Esterline Technologies Corporation (TransDigm Group Incorporated)
- Honeywell International Inc.
- Meggitt PLC
- Thales Group
- United Technologies Corporation (Collins Aerospace)
- GE Aviation company
- L-3 Communications Holdings, Inc.
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