Avionics Market Size to be Worth USD 87.50 Billion Growing at 8.2% CAGR till 2030; Industry Revenue, Statistics, Forecast by Emergen Research
The avionics market size reached USD 44.50 Billion in 2021 and is expected to register a revenue CAGR of 8.2% during the forecast period to the latest analysis by Emergen Research. Increasing improvements in aircraft computing is a key factor driving the growth of the market. The integrated avionics are increasing airplane performance while also lowering the cost of the electronic control unit. The finished solution combines System-Wide Information Management (SWIM), next-generation network-enabled weather, Automated Dependent Surveillance-Broadcast (ADS-B), and next-generation data communications. The integrated solution enhances the aircraft’s capacity to control air traffic, communicate, and maintain situational awareness.
However, a modern avionics system is made up of several subsystems, and the information gathered from several embedded sensors is shown to the pilot utilizing the various display systems that have been installed onboard. These display systems are intricate and prone to signal mistakes, though. The system’s complexity reduces situational awareness and increases the pilot’s burden by requiring him to manage numerous objectives, duties, and split-second judgments. There have been various occasions where computer-generated signals have perplexed pilots. For instance, on Aero Peru Flight 603, the B757 pilots got conflicting instructions while the majority of their instruments were inoperative, which ultimately led to a mid-air crash.
Modern aircraft come with a variety of cutting-edge technology that enable them to fly effectively and safely in a variety of environments. Avionics, which include everything from weather radar and flight control systems to navigation and communication systems, are essential for making aircraft safe and effective. As the industry grows increasingly in need of updated and enhanced avionics, manufacturers are rising to the challenge and creating ever-more complex systems.
There will undoubtedly be a continuing need for new and cutting-edge avionics systems as the global avionics market is predicted to expand dramatically in the years to come. We may anticipate seeing much greater improvements in aircraft performance and safety as manufacturers scramble to accommodate this demand. The complexity of aircraft systems, the need for higher fuel efficiency, and the rising demand for in-flight connection and entertainment are some of the drivers that are fueling this expansion.
More advanced avionics systems are being used by aircraft manufacturers in the avionics sector to accommodate this demand. These devices provide pilots more options and information while in the air, which can help save fuel and increase safety. They also provide customers with a more pleasurable and interactive in-flight experience. The need for trained people to create and maintain sophisticated avionics systems is increasing along with the demand for these systems.
Some Key Highlights From the Report
- The navigation segment is expected to register a significant revenue growth rate during the forecast period. Inertial navigation systems, magnetic field detectors, and distance-measuring equipment are only a few of the parts that make up a contemporary airplane navigation system. Larger airliners require far more complex equipment and an instrument landing system, whereas even tiny Visual Flight Rule (VFR) planes often have basic navigational aids. The fact that navigation is not merely for the air must also be emphasized. Aircraft on the ground also use information from the equipment and any other possible reference to navigate when taxiing from the runway to the gate after landing or during other ground activities.
- The military segment is expected to register a substantial revenue growth rate over the forecast period. As the defense expenditures of military heavyweights like the U.S., China, and Russia increase, it is expected that demand for military aircraft would increase as well. This would encourage the avionics market’s growth in the military aviation segment. New advancements in military aircraft, such as the usage of military technology, improved composite materials, and fifth-generation technology, are also having an impact on the military aviation sector. The avionics of fighter aircraft eliminates the need for a second crew member, such as a navigator, observer, etc., which reduces training costs.
- The OEM segment is expected to register a moderate revenue growth rate over the forecast period. OEMs can gather enough dependability information as a stakeholder to modify maintenance plans, doing away with the need for needless maintenance labor. The increase in the business jet and military aircraft deliveries around the world is tied to the expansion. As a result of Research and Development (R&D) projects to produce technologically superior aircraft computer components, the market is expected to expand.
- Market in North America is expected to register a considerable revenue growth rate. Due to the rise in demand for cutting-edge avionics systems for both military and commercial purposes, a sizable market expansion is projected. Technological advancements in military fighter jets necessitate highly specialized, specialized avionics, which will promote market expansion. The United States is expected to dominate the region as a result of expanding air travel, the importance of cargo, and rising domestic aircraft deliveries.
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New Cabin Management Systems (CMS) and In-Flight Entertainment (IFE) Systems will Be Critical to the Development of the Avionics Market
Due to increased demand for air travel and ongoing airport capacity construction, the global aviation market is expanding rapidly. As airlines aim to update their fleets with the newest technologies, this growth is generating new market opportunities.
According to the study, the market is going through a significant transformation that is being driven by changes in the competitive environment and technological advancements. Airlines are increasingly turning to avionics as a method to enhance the passenger experience as they strive to differentiate their goods and services. They are spending money on in-flight entertainment (IFE) systems and next-generation cabin management systems (CMS). With features like high-definition displays, touch screens, and voice-activated interfaces, CMS are becoming increasingly advanced. IFE systems are developing as well, adding new features including on-demand movies, games, and live television.
Emergen Research has segmented the avionics market on the basis of system, platform, end-use:
- System Outlook (Revenue, USD Billion; 2019–2030)
- Power & Data Management
- Flight Management
- Weather Detection
- Electronic Flight Display
- Platform Outlook (Revenue, USD Billion; 2019–2030)
- Business Jets
- General Aviation
- End-Use Outlook (Revenue, USD Billion; 2019–2030)
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Leading Players Profiled in the Report:
BAE Systems, Cobham, Garmin Ltd., Collins Aerospace, Meggitt PLC, Curtiss-Wright Corporation, General Electronic, UAVIONIX Corporation, CMC Electronics Inc., and Dynon Avionics Inc.
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How will the avionics Market, 2022 to 2030 report help you?
In summary, our 250-page report provides you with the following knowledge:
- Revenue forecasts to 2030 for avionics Market, 2022 to 2030 Market, with forecasts for include report segmentation and company size, each forecast at a global and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2030 for four regional and 20 key national markets – See forecasts for the avionics Market, 2022 to 2030 market in North America, Europe, Asia-Pacific and LAMEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market – including company profiles for 15 of the major companies involved in the avionics Market, 2022 to 2030.
Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.
How will this Report Benefit you?
The 250-page report by Emergen Research contains 194 tables and 189 charts and graphs. Anyone in need of a commercial, in-depth assessment of the global avionics market and comprehensive market segment analysis can benefit from our new research. With the latest research, you can estimate the entire avionics regional and global markets. To grow your market share, get financial analysis of the entire market and its various segments. We believe there is great potential for fast-growing energy storage technology in this industry. Find out how to leverage current and potential revenue streams in this area. Research also helps you make better strategic decisions, allowing you to formulate growth strategies, enhance competitive analysis, and improve business productivity.
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