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on September 25, 2023
Global Avionics Market Forecast to 2030
The Global Avionics Market study includes a thorough analysis of market dynamics as well as historical and current data analysis. The report also discusses the key market growth drivers and restraining factors that are likely to affect market growth during the forecast period. The Global Avionics Market undertakes market scenario research to provide growth projections for the Avionics industry from 2022 to 2030. The analysis focuses on potential growth possibilities and difficulties that market leaders may run into during the forecast period. The study places a lot of emphasis on newly emerging business elements, specialized sectors, product launches, and brand promotions that are taking place in the market
The avionics market size reached USD 44.50 Billion in 2021 and is expected to register a revenue CAGR of 8.2% during the forecast period, according to the latest analysis by Emergen Research. Increasing improvements in aircraft computing are a key factor driving the growth of the market. The integrated avionics are increasing airplane performance while also lowering the cost of the electronic control unit. The finished solution combines System-Wide Information Management (SWIM), next-generation network-enabled weather, Automated Dependent surveillance broadcast (ADS-B), and next-generation data communications. The integrated solution enhances the aircraft's capacity to control air traffic, communicate, and maintain situational awareness.
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Competitive Terrain:
The global Avionics industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
BAE Systems, Cobham, Garmin Ltd., Collins Aerospace, Meggitt PLC, Curtiss-Wright Corporation, General Electronic, UAVIONIX Corporation, CMC Electronics Inc., Dynon Avionics Inc.
Research Report on the Avionics Market Addresses the Following Key Questions:
Who are the dominant players of the Avionics market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Avionics market?
What are the key growth drivers and restraining factors of the Avionics market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Avionics market and its key segments?
Market Overview:
The report bifurcates the Avionics market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
System Outlook (Revenue, USD Billion; 2019–2030)
Power & Data Management
Communication
Navigation
Flight Management
Weather Detection
Electronic Flight Display
Platform Outlook (Revenue, USD Billion; 2019–2030)
Business Jets
Commercial
General Aviation
Military
End-Use Outlook (Revenue, USD Billion; 2019–2030)
OEM
Aftermarket
Regional Landscape section of the Avionics report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
The navigation segment is expected to register a significant revenue growth rate during the forecast period. Inertial navigation systems, magnetic field detectors, and distance-measuring equipment are only a few of the parts that make up a contemporary airplane navigation system. Larger airliners require far more complex equipment and an instrument landing system, whereas even tiny Visual Flight Rule (VFR) planes often have basic navigational aids. The fact that navigation is not merely for the air must also be emphasized. Aircraft on the ground also use information from the equipment and any other possible reference to navigate when taxiing from the runway to the gate after landing or during other ground activities.
The military segment is expected to register a substantial revenue growth rate over the forecast period. As the defense expenditures of military heavyweights like the U.S., China, and Russia increase, it is expected that demand for military aircraft would increase as well. This would encourage the avionics market's growth in the military aviation segment. New advancements in military aircraft, such as the usage of military technology, improved composite materials, and fifth-generation technology, are also having an impact on the military aviation sector. The avionics of fighter aircraft eliminates the need for a second crew member, such as a navigator, observer, etc., which reduces training costs.
The OEM segment is expected to register a moderate revenue growth rate over the forecast period. OEMs can gather enough dependability information as a stakeholder to modify maintenance plans, doing away with the need for needless maintenance labor. The increase in the business jet and military aircraft deliveries around the world is tied to the expansion. As a result of Research and Development (R&D) projects to produce technologically superior aircraft computer components, the market is expected to expand.
Market in North America is expected to register a considerable revenue growth rate. Due to the rise in demand for cutting-edge avionics systems for both military and commercial purposes, a sizable market expansion is projected. Technological advancements in military fighter jets necessitate highly specialized, specialized avionics, which will promote market expansion. The United States is expected to dominate the region as a result of expanding air travel, the importance of cargo, and rising domestic aircraft deliveries.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Avionics market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
Data and information related to the consumption rate in each region
Estimated increase in the consumption rate
Proposed growth of the market share of each region
Geographical contribution to market revenue
Expected growth rate of the regional markets
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