Global Aerospace Avionics Market

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 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.

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FAQs

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).

The 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. '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'

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 market.

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.

North America accounted for the largest 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.

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Global Aerospace Avionics Market

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