Global Avionics Market

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

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

Avionics Market News

  • 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.
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FAQs

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.

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.

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Global Avionics Market

Report ID: SQMIG20A2030

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