USD 78.2 Billion
Aerospace Avionics Market Size, Share, Growth Analysis, By End Use(OEM and Aftermarket), By Application(Commercial Aviation, Military Aviation, Business Jet & General Aviation, And Helicopters), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20A2249 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|Tables:
62
|Figures:
73
Aerospace Avionics Market Insights
Global Aerospace Avionics Market size was valued at USD 78.2 Billion in 2022 and is poised to grow from USD 81.33 Billion in 2023 to USD 111.3 Billion by 2031, growing at a CAGR of 4.00% in the forecast period (2024-2031).
Aerospace avionics, commonly called avionics, is a specialized field of electronics that includes the design, development, configuration, and maintenance of electronic systems & equipment used in aircraft and spacecraft. These systems include navigation, communication, flight control, surveillance, and safety equipment. Aerospace equipment plays an important role in the guidance and control of space flight as well as in ensuring the safety and efficiency of civilian and military aviation operations. Advanced technologies are incorporated to improve aircraft & spacecraft capabilities, safety and performance, and meet stringent regulatory and operational requirements.
High manufacturing costs are an important pitfall in the aerospace market. Flight systems require state-of-the-art technology, quality and rigorous testing to meet industry standards and safety regulations. This requires significant investment in R&D and manufacturing, leading to higher production costs. These higher costs can restrict access to markets by smaller manufacturers and put pressure on larger ones to be more efficient. Prices may also increase for consumers, affecting both affordability and market competitiveness and hindering growth & innovation in the industry.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
OEM
Fastest Growth
Aftermarket
Growth Rate
4.00% CAGR
Global Aerospace Avionics Market ($ Bn)
Country Share for North America Region (%)
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Aerospace Avionics Market Segmental Analysis
Based on end use, the aerospace avionics market is segmented into OEM and aftermarket. Based on application, the aerospace avionics market is segmented into commercial aviation, military aviation, business jet & general aviation, and helicopters. Based on Region, the market is segmented into, North America, Europe, Asia Pacific, Latin America, MEA.
Analysis by Application
The commercial aircraft segment dominated the market. The increasing global demand for aviation has led to the expansion of commercial aircraft fleets, which creates the need for advanced flight systems for modern & safety purposes. Passenger expectations associated with in-flight communications and entertainment systems are driving investments in advanced communications and entertainment aircraft equipment. Airlines are striving to improve fuel efficiency and reduce emissions, offering aviation solutions for flight planning and scheduled trips. Also, for stringent safety regulations and the need to increase operational efficiency are forcing airlines to invest in sophisticated aircraft technology.
Military aircraft segment is the fastest growing that rely heavily on advanced avionics systems to support mission critical tasks such as surveillance, reconnaissance, combat, air defense etc. Military aircraft avionics systems are often more complex and specialized than commercial counterparts, with advanced guidance, communications, sensors and weapon guidance including capabilities. By enabling military forces to effectively identify, track and engage potential threats, aviation technology plays an important role in strategic security appropriately and in the maintenance of national security. The avionics system enables military aircraft to operate in a variety of environments, performing a variety of tasks including high altitude flight, strategic bombing, intelligence gathering and electronic warfare.
Analysis by End-User
In 2022, the OEM segment dominated the global market. Original equipment manufacturers (OEMs) are gaining ground in the market. Increasing demand for new aircraft & spacecraft is forcing OEMs to develop more avionics systems. Technological advances are driving the introduction of long-range aircraft used in modern aircraft, further increasing the market share of OEMs. Stricter safety and emissions regulations are driving the development and replacement of aircraft systems in existing fleets. Additionally, there is a steady demand from OEMs (Original Equipment Manufacturers) in emerging markets like Asia Pacific. The growing aviation and aerospace industries in these regions present lucrative opportunities for profit growth.
The aftermarket segment phase includes maintenance, repair, and repair services for avionics systems. As the age and technology of aircraft advances, there is a constant demand for market services to ensure the reliability, safety and compliance of flight management systems MRO provided provides services such as troubleshooting, upgrades and replacement parts to enhance aircraft equipment life and performance.
Global Aerospace Avionics Market By End Use (%)
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Aerospace Avionics Market Regional Insights
North America accounted for the largest global aerospace avionics market share of more than 30% by 2022. The region is home to aerospace manufacturers such as Boeing and Lockheed Martin, increasing demand for advanced avionics systems. The region has a huge fleet of commercial aircraft, and airlines are constantly upgrading their jet engine systems to improve safety and fuel efficiency. Technological innovation and research facilities in the US. is driving flight plans. Stricter security regulations and a focus on aircraft cybersecurity are encouraging investments in cutting-edge violic technology, further fueling market trends.
In contrast, Asia Pacific is witnessing rapid growth in the market, driven by increasing air transport needs, increasing defense budgets and expanding aircraft infrastructure. Countries such as China, India and Japan have invested in domestic aviation and aerospace capabilities, increasing the demand for aviation infrastructure, and presenting opportunities for market growth and expansion in the region.
Global Aerospace Avionics Market By Geography
- Largest
- Fastest
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Aerospace Avionics Market Dynamics
Drivers
Growing Demand for Spare Parts Driving Growth of the Global Aviation Sector
- Aircraft infrastructure, such as flight control systems and communication systems, is critical to the safe and smooth operation of the aircraft. A flight control system enhances operational coordination between key components from takeoff to landing. The flight control system pre-programs the flight schedule so that the flight is accurate and timely. Thus, the anticipated growth in deployment of flight control systems in commercial and military aircraft during the forecast period is likely to be the key driver for the global market.
Improvements In Aircraft Deliveries
- Growing global airlines and the replacement of aging aircraft are driving the need for drones in the space flight system as airlines seek to fly fuel efficiently. It is necessary to develop sophisticated aeronautical technology to match it to improve safety, navigation and communication capabilities. Continuous innovations in aviation technology, such as digitization, artificial intelligence and advanced sensors, drive the market forward. These advances enable the development of sophisticated avionics systems that enhance performance, reliability and increased productivity to meet the evolving needs of the aerospace industry.
Restraints
High Cost
- Commercial aircraft are quite expensive due to their design and quality. Consequently, the overall mechanical cost of the aircraft increases, and maintenance costs will be higher. The presence of guidance systems, flight control systems, engine health monitoring, inspection, and other systems are mainly contributing to the rising costs. The global aerospace avionics market size is also expected to affect other technical constraints such as reliability, reliability, and reduction or elimination interventions.
Regulatory Compliance
- Stringent regulatory standards and certification requirements imposed by aviation authorities pose challenges for aircraft equipment manufacturers. Compliance with these standards requires rigorous testing, certification and documentation procedures, increasing the cost and time required for new avionics.
High Development Costs
- The development of space flight systems requires significant investments in research, design and testing. The complexity of aviation technology integration, coupled with stringent airline safety and reliability requirements, contribute to high development costs, which can be a barrier to entry for smaller companies.
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Aerospace Avionics Market Competitive Landscape
The global aerospace avionics market is highly competitive, with many key players dominating the industry. Companies such as Honeywell International Inc., Thales Group, Collins Aerospace (formerly known as Rockwell Collins), and Garmin Ltd. have all developed a range of products. These companies compete based on factors such as innovation, reliability, performance, and customer support. Strategic partnerships, mergers and acquisitions are common strategies used by companies to strengthen their market position and expand their product portfolio.
Top Player’s Company Profiles
- 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
Recent Developments
- In February 2024, Universal Avionics (UA) and Trimech Aviation received an FAA Supplemental Type Certificate (STC) for the Falcon 2000/EX, which features the Insight Flight Display System This upgrade builds on existing Pro Line 4 avionics legacy state-of-the-art replacement displays and synthetic vision, address old issues, improve operational efficiency and enhance safety.
- In June 2023, United Airlines and Panasonic Avionics Corp. signed a contract for the Panasonic Astrova In-Flight Engagement (IFE) solution, for which United Airlines has become its U.S. carrier customer. First installation of new Boeing 787s is scheduled for launch in 2025. Panasonic United Airlines is investing heavily in IFE for avionics.
- In July 2023, Thales Group acquired Cobham Aerospace Communications, a provider of advanced, highly reliable and innovative safety cockpit communications systems and has entered into a proposed deal valued at The US$1.1 billion to strengthen Thales Avionics' portfolio.
Aerospace Avionics Key Market Trends
- Rise in the Integration of Modern Flight Control Systems: The improvement and integration of modern flight control systems onboard the next-era aircraft, which are expected to enter carrier in the approaching years, is being accomplished in collaboration between the plane OEMs and the avionics makers. To improve the self-sufficient operations of manned and unmanned aircraft, firms are also targeting integrating present day technology like artificial intelligence (AI) and massive data into computer systems. A further layer of cybersecurity is being brought by means of multiple manufacturers who're developing physical unclonable function (PUF) based nano-electromechanical switches (NEMs) which could endure severe temperatures, microwaves, and excessive-dose radiation and self-destruct in the occasion of facts breaches.
Aerospace Avionics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global aerospace avionics market is experiencing steady growth driven by a combination of increased aircraft supply, technological advancements and integration of related technologies. Although stringent regulatory standards and development costs size is a challenge though, opportunities abound for aircraft designers to take advantage of the growing demand for modernized and efficient flight systems.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 78.2 Billion |
| Market size value in 2031 | USD 111.3 Billion |
| Growth Rate | 4.00% |
| Base year | 2023 |
| 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:-
|
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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 Aerospace 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 Aerospace 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 Aerospace 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 Aerospace 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 Aerospace Avionics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aerospace 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.
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