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

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.