What is the global market size of Avionics Market?

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).

Avionics Market Size, Share, Growth Analysis, By System(Hardware, Software), By Platform(Commercial, Military, Business Jets & General Aviation, Helicopters), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Avionics Market?

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. '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'

Report ID: SQMIG20A2030 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 63 | Figures: 76

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.

Avionics Market Report Snapshots

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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).

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. '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'

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.

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.

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Avionics Market Size, Share, Growth Analysis, By System(Hardware, Software), By Platform(Commercial, Military, Business Jets & General Aviation, Helicopters), By Region - Industry Forecast 2024-2031

Avionics Market Regional Insights

Avionics Market Report Snapshots

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