Commercial Aircraft Avionics Systems Market Revenue
The CAGR for the commercial aircraft avionics systems market is expanding quickly. A recent study report released by Market Research Future predicts that the global market would expand quickly throughout the forecast period. By 2021, the market is anticipated to grow gradually but steadily, with a moderate CAGR over the anticipated period.
Commercial Aircraft Avionics Systems Market size was valued at 18.68 Billion in 2022. The Commercial Aircraft Seat Actuation industry is projected to grow 13.26 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.90 % during the forecast period (2022 - 2032)
Key Players
Following are the Commercial Aircraft Avionics Systems Market Key Players Cobham, Honeywell, Panasonic Avionics, Rockwell Collins, Thales, Curtiss-Wright, Elbit Systems, Garmin, GE Aviation, L-3 Communications, Universal Avionics System, and Zodiac Aerospace and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Market.
Avionics are the electronics system used for communication, navigation, and various other flight critical applications in an aircraft. Avionics are one of the most critical components in the modern aircraft. Additionally, avionics system aid in improved navigation and routing, provide enhanced situational awareness to pilots, and improve ATM process. Focus on high-quality products the changing lifestyle of consumers and increasing spending power, enhance the growth of the avionics systems for commercial aircraft. However, the strict regulatory requirements and design constraints acts as a barrier for the growth of Commercial Aircraft Avionics Systems Market Revenue.
The commercial aircraft avionics market is completely dependent on the aircraft industry. Thus, the increasing or decreasing demand of the aircrafts directly has an impact on the market. Another factor responsible for the increase in market is the growing demand for lightweight avionics systems, increase in new aircraft orders and need for improvement in aviation safety. This is the primary factor that drives the growth of commercial aircraft avionics systems market and has gained prevalence in the recent times, with technological developments and rapidly increasing disposable income among consumers. Thus, the growth of the avionics systems market is expected to go hand in hand with the growth of commercial aircraft industry.
Israel is one of the leading markets for aircraft avionics technology in the Middle East. Israel-based Elbit Systems, in cooperation with the Norwegian company Nic arnica Aviation, UK-based EasyJet airline and Airbus, has been working to integrate volcanic ash cloud detector system data into the cockpit’s enhanced vision display. Such developments will enable airlines to fly in low-visibility atmospheric conditions. The Aviation industry faced several incidents of aircraft collision because of the lack of awareness of surrounding terrain while operating in poor visibility. Avionics system such as the SVS provides pilots with clear views of their surroundings even in bad weather and low-light conditions. It offers virtual reality displays in aircraft cockpits showing terrain, air traffic, runway surfaces, landing and approach patterns, and obstacles that could affect an aircraft’s flight. It significantly improves safety and can help prevent aviation accidents.
In the current scenario, airspace manufacturers are pushing for airspace modernisation program that mandates various avionics system upgrades for commercial airlines. The changing regulatory scenario, cost-saving solutions and replacement of older generation aircraft fleet to act as a driving factor in the growth of the market on the commercial aircraft avionics systems market.
Segmentation:
The Global Commercial Aircraft Avionics Systems Market Segmentation is in to 4 key dynamics for the convenience of the report and enhanced understanding.
Segmentation by Sub-System
- Comprises FMS
- FCS
- HMS
- Navigation
- CNS and Electrical and Emergency Systems
Segmentation by Platform
- Comprises Fixed-wing Aircraft
- Rotary-wing Aircraft
Segmentation by Fit
- Comprises Line-Fit
- Retrofit
Segmentation by Regions
- Comprises Geographical regions
- Americas,
- EMEA
- APAC
Industry/ Innovation/ Related News:
April 2018 – Brazilian Air Force Flight Inspection Group (GEIV), upgraded its fleet of Hawker 800 XP aircraft with Rockwell Collins Pro Line 21 avionics suite.
April 2015 – Boeing Corporation collaborated with Curtiss-Wright for data-handling avionics for the Crew Space Transportation (CST) – 100 spacecraft that Boeing is building for NASA.
Regional Analysis
European market is dominating the market of Commercial Aircraft Avionics Systems Market Development in next generation air transport modernization program. Development of market in European region such as Switzerland are driving the market for commercial aircraft avionics systems.
America is referred to as the second-largest market due to factors such as pioneer in terms of avionics research and availability of major vendors have fuelled the demand for market in the country.
Commercial Aircraft Avionics Systems Market Report: Information by System (FMS, CNS, Electrical Emergency Systems, and Other Systems), by Aircraft (Narrow-Body, Wide-Body and Others), by Fit (Line-Fit Retrofit), and by Region - Forecast to 2027
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