Allied Market Research published a report, titled, "Aerospace Avionics Market, by Subsystem (Flight Management Systems, Flight Control Systems, Health Monitoring Systems, Electrical & Emergency Systems and Communication, Navigation, and Surveillance Systems), Platform (Military Aviation, Commercial Aviation, General Aviation, and Special Mission Aviation), Fit (Retrofit and Forward Fit), and End-Use (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2022–2032". the global aerospace avionics market size was valued at $48.74 billion in 2022, and is projected to reach $111.58 billion by 2032, registering a CAGR of 8.9% from 2023 to 2032.
(We are providing aerospace avionics industry report as per your research requirement, including the Latest Industry Insight's Evolution, Potential and Russia-Ukraine War Impact Analysis)
- 195 - Tables
- 58 - Charts
- 344 – Pages
Download Sample Report and Table of Content - https://www.alliedmarketresearch.com/request-sample/A322323
Prime Determinants of Growth
The global aerospace avionics market is driven by factors such as rise in the production of aircraft, which fuels the demand for aerospace avionics. In addition, the market is influenced by surge in demand for communication subsystems. However, high initial costs are expected to hinder the market growth. Moreover, the enhanced connectivity solutions provide lucrative opportunities for market growth.
The communication, navigation, and surveillance systems segment to maintain its leadership status throughout the forecast period.
By subsystem, the communication, navigation, and surveillance systems segment held the highest market share in 2022, accounting for nearly one-third of the global aerospace avionics market revenue and is estimated to maintain its leadership status throughout the forecast period.
Increase in traffic densities, increase in need to utilize RF spectrum, and improved safety nets have elevated the demand for surveillance systems.
Key Developments/Strategies in the Aerospace Avionics Industry
- January 2024 witnessed Universal Avionics (UA) and Trimec Aviation obtaining FAA Supplemental Type Certificate (STC) for the Falcon 2000/EX, featuring the InSight Flight Display System. This upgrade replaces legacy Pro Line 4 avionics with cutting-edge displays and synthetic vision, addressing obsolescence issues, improving operational efficiency, and enhancing safety.
- United Airlines and Panasonic Avionics Corporation inked an agreement in June 2023 for Panasonic's Astrova in-flight engagement (IFE) solution, with United Airlines becoming its inaugural U.S. customer. Installation on new Boeing 787 and Airbus A321XLR aircraft is slated to commence in 2025, marking United Airlines' significant investment in Panasonic Avionics' IFE.
- In July 2022, Universal Avionics Systems Corporation, a subsidiary of Elbit Systems Ltd., secured a $33 million contract from AerSale Corporation to provide Enhanced Flight Vision Systems (EFVS) for Boeing 737NG aircraft, to be executed through 2023.
- Thales Group achieved a milestone in January 2022 with the successful test flight of its FlytX avionics suite, aimed at enhancing situational awareness and reducing pilot workload through features like a touch screen cockpit display, advanced weather radar, and synthetic vision technology.
- Collins Aerospace announced a long-term agreement with Boeing in November 2021 to supply avionics systems for the Boeing 777X aircraft program, encompassing cockpit displays, communication, navigation systems, and other crucial avionics components.
The commercial aviation segment to maintain its leadership status throughout the forecast period
By platform, the commercial aviation segment held the highest market share in 2022, accounting for more than half of the global aerospace avionics market and is estimated to maintain its leadership status throughout the forecast period. The development of ADS-B ground station and the integration of wide area multiliterate (WAM) capability are expected to boost the growth of the market. Similarly, the evolution of non-cooperative surveillance infrastructure and satellite-based solutions is opportunistic for the market.
North America to maintain its dominance by 2032
By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global aerospace avionics market revenue and is projected to dominate the market during the forecast period. The thriving commercial aviation sector is where airlines consistently enhance their avionics systems to enhance safety and fuel efficiency. Technological advancements and research facilities in the U.S. are driving the advancement of avionics systems. Rigorous safety standards and a growing emphasis on aviation cybersecurity are prompting investments in avionics technology, thus driving the market.
Key Highlights of the Report
- The aerospace avionics market analysis spans across more than 16 countries, offering a detailed breakdown of each country's value ($million) from 2022 to 2032.
- This research integrates top-tier data, expert opinions, and thorough analysis, supplemented by significant independent perspectives. The research methodology is crafted to present a comprehensive view of the global market landscape, aiding stakeholders in making informed decisions to achieve ambitious growth objectives.
- A meticulous review of over 3,700 product catalogs, annual reports, industry descriptions, and other comparable resources from prominent industry players was conducted to deepen understanding of the market dynamics.
Procure Complete Research Report (PDF with Qualitative and Quotative Data, Insights, Statistics, Tables, Charts, Figures) - https://www.alliedmarketresearch.com/aerospace-avionics-market/purchase-options
Leading Market Players: -
- Raytheon Technologies Corporation
- Honeywell International Inc.
- L3 Harris Technologies
- BAE Systems
- Thales Group
- Curtis Wright Corporation
- Northrop Grumman
- Safran SA
- Leonardo S.P.A
- Elbit Systems Ltd
Drone Defense System Market https://www.alliedmarketresearch.com/drone-defense-system-market-A12507
Multirotor Drone Market https://www.alliedmarketresearch.com/multirotor-drone-market-A09185
Space Logistics Market https://www.alliedmarketresearch.com/space-logistics-market-A47401
Drone Camera Market https://www.alliedmarketresearch.com/drone-camera-market-A11099
Narcotics Scanner Market https://www.alliedmarketresearch.com/narcotics-scanner-market
Aircraft Window Frame Market https://www.alliedmarketresearch.com/aircraft-window-frame-market-A31492
Davin Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |
About Us:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides end-to-end solutions along with information, education, advocacy, and networking resources to SMEs and early-stage start-ups to bring excellence to their processes. In addition, we offer a nurturing environment required to develop and grow businesses, including business planning; virtual support; market intelligence; acquiring resources; and getting direct access to finance, suppliers, and other experts to boost the growth of businesses and entrepreneurs.
Our bundled and hassle-free business support systems are customized to meet the needs of SME consultants and industry leaders. Moreover, our large network of skilled consultants and experts help start-ups get the business on a roll.
