The global commercial avionics systems market size reached US$ 28.1 Billion in 2021 and is projected to reach a value of US$ 36.7 Billion by 2027.
SHERIDAN, WYOMING, USA, April 26, 2022 /EINPresswire.com/ — The global commercial avionics systems market 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 refer to the cockpit electronics and airborne equipment designed for utilization in aviation, spacecraft, and artificial satellites. They include communications, navigation, display and management systems, lighting systems, threat detection, fuel systems, electro-optic (EO/IR) systems, weather radar, performance monitors, and other systems to perform flight management tasks. These systems are reliable and assist in controlling and avoiding collision with other aircraft and communicating with air traffic control (ATC) towers to improve the safety of crew and passengers.
Base Year: 2021
Forecast Year: 2022-2027
Commercial Avionics Systems Market Trends and Drivers:
The market is primarily driven by the expanding aviation industry as commercial avionics systems are widely employed in aircraft to understand the parameters and avoid collisions. In addition, the rising adoption of next-generation flight management systems (NGFMS) represents another major growth-inducing factor.
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Besides this, the growing need for improved safety and security against hijacking and terrorist attacks worldwide is escalating the demand for commercial avionics systems.
Moreover, key players are focusing on introducing innovative product variants to enhance the security and accuracy of these systems and offer better services. This, coupled with the integration of advanced technologies, such as the internet of things (IoT) in avionics systems, is creating a favorable market outlook across the globe.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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.
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.).
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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
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.
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