USD 43.92 billion
Global Avionics Market Size, Share, Growth Analysis, By System(Hardware, Software), By Platform(Commercial, Military) - Industry Forecast 2024-2031
Report ID:
SQMIG20A2030 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
63 |
Figures:
76
Global Avionics Market Insights
Global Avionics Market size was valued at USD 43.92 billion in 2019 and is poised to grow from USD 47.18 billion in 2023 to USD 78.57 billion by 2031, growing at a CAGR of 7.5% in the forecast period (2024-2031).
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.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hardware
Fastest Growth
Software
Growth Rate
7.5% CAGR
Global Avionics Market , 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Avionics Market Size By System , 2021-2028($ Bn)
Global Avionics Market Size By System , 2021-2028 (%)
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Global Avionics Market Segmental Analysis
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.
Global Avionics Market By System , 2021(%), 2023 (%)
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Global Avionics Market Regional Insights
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.
Global Avionics Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Global Avionics Market Dynamics
Avionics Market Driver
- The avionics systems market was profoundly impacted by technological advancements. Additionally, advancements in in-flight entertainment, glass cockpits, and health monitoring systems helped the market expand. The market is expanding primarily due to an increase in demand for data analytics in the aviation sector, especially in North America and Europe where the sector is sufficiently developed to support such improvements. Faster data processing speed made possible by real-time data analytics helps in industry decision-making. This component is anticipated to have a big impact in the future.
- It is projected that a significant increase in passenger traffic, particularly in commercial aircraft, will spur market expansion. The reason for this is that commercial aircrafts are outfitted with cutting-edge technologies including flight management systems, communication systems, navigation systems, surveillance systems, and electrical systems, all of which improve the trip experience for passengers and guarantee travel safety. This might raise demand for more aircraft, which would help the aerospace avionics industry grow by increasing the number of passengers in commercial aviation. For instance, the top global aerospace company Airbus SE delivered 566 commercial aircraft in 2021.
- The advancement of new and improved avionics necessitates the replacement of obsolete avionics systems in older generation military aircraft. These advanced avionics suites help aircraft satisfy newer generation battlefield requirements such as long-range target identification and tracking, stealth, and electronic warfare protection. As a result, in order to keep up with enemies, allied military forces are developing modernization programmes to upgrade the avionics suites in military aircraft.
Avionics Market Restraint
- The main concerns for the global avionics markets include rising raw material costs, reductions in defence funding that affect avionic system spending, avionic system complexity.
- The cost of producing and operating commercial aeroplanes is relatively high due to their sophistication. As a result, the entire price of the aircraft avionics system rises, and maintenance costs are also significant. The presence of navigation systems, flight management systems, engine health monitoring, surveillance systems, and other systems is primarily responsible for the rising cost. The size of the aerospace avionics market is also expected to be affected by other technical limitations like dependability, reliability, and reducing or eliminating processing interference.
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Global Avionics Market Competitive Landscape
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
- Avilution LLC (US)
- Honeywell Aerospace
- Rockwell Collins
- Thales Group
- Garmin Ltd.
- Cobham Plc
- BAE Systems
- United Technologies Corporation
- Safran Electronics & Defense
- General Electric
- L3Harris Technologies Inc.
- Esterline Technologies Corporation
- Curtiss-Wright Corporation
- Elbit Systems Ltd.
- Leonardo S.p.A.
- Meggitt PLC
- Raytheon Technologies Corporation
- Moog Inc.
- Astronics Corporation
- Teledyne Technologies Incorporated
- Northrop Grumman Corporation
Avionics Market Recent Developments
- In Jun 2022, Universal Avionics (UA), an Elbit Systems company, has been selected by Aeronaves TSM to supply cockpit upgrades on 15 McDonnell Douglas MD-80s and 11 Douglas DC-9 aircraft. The addition of Universal SBAS-Flight Management Systems (FMS) improves the efficiency of cargo operations with Localizer Performance with Vertical guidance (LPV), among others, while bringing safety enhancements and compliance with the Automatic Dependence Surveillance-Broadcast (ADS-B) mandates.
- In Jun 2022, The US Air Force (USAF) has entered into a contract with American defence manufacturer Raytheon Technologies to upgrade the avionics on the service’s Fairchild Republic A-10C Thunderbolt II ground-attack jets.
- In Mar 2022, Flightcell, the New Zealand-based airborne communications supplier, introduced its new SmartHub all-in-one cockpit recorder that targets the rotorcraft market.
Global Avionics Key Market Trends
- The development and integration of cutting-edge flight control systems onboard the next-generation aircraft, which are expected to enter service in the upcoming years, is being done in collaboration between the aircraft OEMs and the avionics makers. In order to improve the autonomous operations of manned and unmanned aircraft, firms are also concentrating on integrating cutting-edge technology like artificial intelligence (AI) and large data into computers.
- A further layer of cybersecurity is being added by multiple manufacturers who are creating physical unclonable function (PUF) based nano-electromechanical switches (NEMs) that can endure extreme temperatures, microwaves, and high-dose radiation and self-destruct in the event of data breaches.
Global Avionics Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 43.92 billion |
| Market size value in 2031 | USD 78.57 billion |
| Growth Rate | 7.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Avionics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Avionics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
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.
Analyst Support
Customization Options
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.
Global Avionics Market Report Snapshots
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