Global Commercial Avionics Systems Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global commercial avionics systems market in its upcoming report titled, “Global Commercial Avionics Systems Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global commercial avionics systems market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global commercial avionics systems market report has been segmented on the basis of product type, species, livestock, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Avionics are the electronic systems used in aircrafts, spacecraft and artificial satellites. These systems are used for navigation, communication, display, tactical system and many other functions. In addition, aviation system also includes a safety management system that includes safety culture, safe operational environment, quality control and many more. In the late 1950s, use of commercial avionics systems increased, owing to the growing commercial aviation services. The modern commercial aviation system provides improved navigation, routing, safety in takeoff-landing, surveillance, and real time data, etc.
Expanding commercial avionics sector in developed as well as developing countries is another key factor driving the growth of the global market. Increasing technological advancements and innovations to make air travel safer and efficient is also a factor fueling the growth of the global market. Increasing demand for aircrafts as a rising number of aviation passengers in developing economies and growing investment in the commercial avionics sector are factors expected to drive the growth of the global market.
However, the high cost of avionics systems and requirement of huge investments are major factors may hamper the growth of the global commercial avionics systems market.
Development of cost-effective electronic or hybrid aircrafts and developments in avionics system such as a glass cockpit, real time data facility, can create higher revenue opportunities for key players in the target market.
The North America accounts for largest market share in terms of revenue and is expected to maintain its dominance over the forecast period, owing to presence of avionics system production companies in the region. The Europe is expected to account for a second-highest share in the market in terms of revenue over the forecast period, owing to increasing adoption of innovations in avionics systems in commercial aircrafts in the region. The Asia Pacific market is expected to witness a significant growth, especially in emerging economies, owing to the increasing foreign and local investment in the region.
Global Commercial Avionics Systems Market Segmentation:
Segmentation by type:
- Regional Aircraft
- Wide Body Aircraft
- Narrow Body Aircraft
Segmentation by systems:
- Communication system
- Surveillance and monitoring system
- Navigation system
- Flight management and emergency system
- Others (Electrical system, air bourn early warning system, weather systems, etc.)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- United Technologies Corporation
- Thales S.A.
- GE Aviation Systems LLC
- Garmin Ltd.
- Rockwell Collins, Inc.
- Honeywell International Inc.
- L3 Technologies, Inc.
- Panasonic Avionics Corporation
- Universal Avionics Systems Corporation
- Teledyne Technologies, Inc.
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