USD 43.92 billion
Report ID: SQMIG20A2030 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 63 | Figures: 76
Global Avionics Market size was valued at USD 43.92 billion in 2021 and is poised to grow from USD 47.18 billion in 2022 to USD 78.57 billion by 2030, growing at a CAGR of 7.5% in the forecast period (2023-2030).
The flight computer system of the aircraft is composed of a variety of display units that can all execute flight operations. These systems include automatic flight management, communication, navigation, and surveillance (CNS) (AFMS). For instance, the performance of the fly-by-wire control system depends on digital computers. Equipment for communication, cockpit displays, control and monitoring, navigation, and other electromechanical systems are all included in the avionic systems. The demand for modern avionics has increased as a result of the increasing number of technological advancements since they provide improved functionality and reliability. Avionic systems use air data sensors, accelerometers, the pilot control stick sensor assembly, rate gyros, and other devices to give pilots crucial information such as aircraft height, airstream incidence, and airspeed. Avionics is utilized in a variety of applications, including commercial, defence, and unmanned aerial vehicles (UAVs).
An expansion of the retrofit aircraft market and modernization of aircraft with cutting-edge technology has led to the adoption of Avionics across the forecast period. The deployment of Next-Generation Flight Management Systems and the utilisation of advanced navigation and surveillance technologies are projected to boost market expansion over the course of the forecast period. The air transport industry is expanding and so is the future of avionics. According to ICAO’s preliminary compilation of annual global statistics, the total number of passengers carried on scheduled services rose to 4.5 billion in 2019, which is 3.6 percent higher than the previous year, while the number of departures reached 38.3 million in 2019. Rising geopolitical conflicts are a major element driving up demand for sophisticated military aircraft avionics for combat applications. Increased investments in the defence and military sectors are also supporting market expansion by upgrading current aircraft with advanced avionics systems to meet safety and integrity criteria.
US Avionics Market is poised to grow at a sustainable CAGR for the next forcast year.
Global Market Size
USD 43.92 billion
To get more reports on the above market click here to Buy The Report
Global avionics market is segmented based on system, platform, and region. Based on the System, the Global Avionics Market is segmented as hardware and software. Based on Platform, the Global Avionics Market is segmented as commercial, military, business jets & general aviation, and helicopters. Based on Region Avionics Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Avionics Market Analysis by System
Based on the System, the Avionics market is bifurcated into hardware and software. The market share that belongs to hardware is the largest. The hardware provides the aircraft with primary navigation, flight planning, optimum route determination, and end route guidance. It performs navigation, flight planning, trajectory prediction, performance computations, and guidance. To achieve these functions, the flight management system communicates with various other avionics systems. Any aircraft's safe and effective operation depends on the appropriate selection and use of the avionics hardware, which must be established by a specific standard.
Avionics Market Analysis by Platform
Based on Platform the Avionics market is segmented into commercial, military, business jets & general aviation, and helicopters. The commercial category held the most market share, throughout the projection period. The primary integrators and sellers of aircraft are still the airframe manufacturers, but the cost of production has migrated steadily more toward the powerplant and avionics systems. For civil transports, the expenditures for construction and integration, engines, and avionics typically account for 50% of total costs. For military aircraft, the cost of avionics—which includes systems for managing weapons and self-defense—can exceed 50% of the total cost, with engines accounting for 20% and the airframe and integration for 30%. Production of avionics includes additional safety and reliability concerns in addition to the precise fabrication of computer processors. As a result, test specifications have been expanded, performance parameter limitations have been tightened, and this has encouraged the creation of innovative circuit-board assembly procedures.
To get detailed analysis on other segments, Request For Sample Report
North America is expected to control the Avionics market share. Factors impacting the growth of the avionics market in the North American area include the rising demand for aircraft for commercial purposes and their expanding value in the defense sector to conduct transport and surveillance duties.
The development and integration of modern avionic suites onboard aircraft (both linefit and retrofit) are projected to propel the European avionics sector forward. The projected purchases and deliveries of commercial aircraft by major airlines in the Europe region over the projection period to meet rising passenger traffic are likely to drive regional demand for avionics. Furthermore, demand for military aircraft as well as private aviation in the region is likely to drive market expansion.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Avionics Market Driver
Avionics Market Restraint
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Global avionics market is highly competitive. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Avionics Market Top Player's Company Profiles
Avionics Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Avionics Market Analysis, in terms of system, the hardware segment held the largest share and is estimated to maintain a similar trend over the forecast period as any aircraft's safe and effective operation depends on the appropriate selection and use of the avionics hardware, which must be established by a specific standard. In terms of platform, commercial platform accounted for a maximum market share followed by military because of increasing number of passengers and government fundings.
|Market size value in 2021
|USD 43.92 billion
|Market size value in 2030
|USD 78.57 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Avionics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Avionics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Avionics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Avionics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.