The latest research study “Commercial Avionics Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global commercial avionics systems market size reached a value of US$ 28.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 36.7 Billion by 2027 exhibiting a CAGR of 4.20% during 2022-2027.
Commercial avionics system refers to electronic equipment designed for use in aviation. They include fuel systems, electro-optic (EO/IR) systems, engine controls, flight recorders, lighting systems, threat detection, weather radar, performance monitors, and other systems for flight management. They enhance the safety of the crew and passengers by assisting in controlling, monitoring, navigating, avoiding collisions with other aircraft, and communicating with ATC towers. Since they are durable, efficient, and do not require regular updates, commercial avionics systems are gaining immense traction across the globe.
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Commercial Avionics Systems Market Trends and Drivers:
The global commercial avionics systems market is primarily driven by the expanding aviation industry and increasing air passenger traffic. Moreover, commercial avionics systems enable pilots to understand the factors that keep their aircraft on course and safe from other planes.
They include cockpit systems that help in emergency landings. In line with this, the surging adoption of next-generation flight management systems (NGFMS) is accelerating product demand. Additionally, the need for increased safety and security to prevent hijacking and terrorist attacks worldwide is also positively driving market growth.
Furthermore, the shifting consumer preferences toward low-cost carriers (LCC) in developing countries and advancements in commercial aviation networks are other major factors impelling market growth. Other factors, including the rising focus of key players on product innovations to offer better service, rapid urbanization, and technological advancements, are also anticipated to create a positive market outlook.
Global Commercial Avionics Systems Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Commercial Avionics Systems Companies:
Cobham Limited, Garmin Ltd., General Electric Company, Honeywell International Inc., L3Harris Technologies Inc., Panasonic Corporation, Raytheon Technologies Corporation, Safran SA, Teledyne Technologies Inc., Thales Group and Universal Avionics Systems Corporation (Elbit Systems Ltd.).
The report has segmented the market on the basis of region, sub system, aircraft type and fit.
Breakup by Sub System:
- Health Monitoring Systems
- Flight Management and Control Systems
- Communication and Navigation
- Cockpit Systems
- Visualizations and Display Systems
Breakup by Aircraft Type:
- Narrow-body Aircraft
- Wide-body Aircraft
- Regional Aircraft
Market Breakup by Fit:
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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