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  • Commercial Avionics Market Forecast | 2023-2028

    Commercial Avionics Market Forecast | 2023-2028

    Commercial Avionics Market Forecast | 2023-2028
    Report code - SR1145 Delivery - 2 Weeks
    Commercial Avionics Market, Dynamics, Trends, Forecast and Industry Analysis – 2023- See more...

    Market Insights

    The commercial avionics market is estimated to grow at a healthy CAGR of 16.4% during the forecast period.

    What are Commercial Avionics?

    Commercial avionics systems are referred to as electronic systems which are used on a commercial aircraft for monitoring, navigation, and related functions. The rising adoption of next-generation flight management systems is a key growth factor. The commercial aircraft avionics industry is mainly dependent on the demand for new aircraft and upgrades of avionics for existing aircraft.

    Commercial Avionics Market Features

    Market Growth (2023-2028)

    16.4% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Top Companies in 2022

    • Honeywell International Inc. (The U.S),
    • General Electric Company (The U.S),
    • Thales Group (France),
    • BAE Systems PLC (UK),
    • Cobham PLC (UK),
    • Esterline Technologies Corporation (The U.S),
    • Diehl Stiftung & Co. KG (Germany),
    • L3Harris Technologies Inc.,
    • Collins Aerospace (Raytheon Technologies Corporation) (The U.S), and
    • Meggitt PLC (UK).

    Dominant Region

    North America is expected to grow at the highest CAGR in the following years.

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    Market Dynamics

    The growth of the commercial avionics market is primarily driven by:

    • The mandate for automatic dependent surveillance and strong growth in the retrofit aircraft market.
    • Also, robust growth in emerging countries, the advent of advanced avionic systems for next-gen aircraft, rising need for real-time data, and growing number of aircraft orders.
    • However, the rising vulnerability of the avionic systems to cyberattacks.

    commercial-avionics-market-snapshot

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    Key Players

    Key players operating in the commercial avionics market are:

    Segments Analysis

    Aircraft Trends

    The market is categorized into narrow-body, wide-body, regional aircraft.

    • The narrow-body segment held a significant market share in 2022 and is estimated to register a healthy CAGR during the forecast timeline.
    • This is mainly attributed to rising demand for air travel and the expansion plans of LCC operators.
    • Also, the emergence of new aircraft models such as COMAC C919, and Irkut MC-21 further bolsters the segment growth.

    Regional Insights

    The market in North America accounted for a significant share in 2022 and is expected to grow at the highest CAGR in the following years.

    • This is mainly ascribed to the strong presence of aircraft manufacturers such as Boeing, Lockheed Martin, etc.
    • Also, the rising demand for aircraft for commercial applications and their increasing adoption in the defense sector to carry out transport and surveillance activities further proliferates the regional market growth.

    commercial-avionics-market-region

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    Segmentation

    The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories:

    By aircraft type:

    • Narrow-body,
    • Wide-body,
    • Regional Aircraft.

    By subsystem type:

    • Health Monitoring Systems,
    • Flight Management and Control Systems,
    • Communication and Navigation,
    • Cockpit Systems,
    • Visualizations and Display Systems,
    • Others.

    By region:

    • North America
    • Europe
    • Asia-Pacific
    • Rest of the world.

    commercial-avionics-market-segmentation

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    Target Audience

    The following is a list of the customers that the commercial avionics market aims to convert the most:

    • Vendors
    • Retailers
    • Aerospace companies
    • Aerospace OEMs

    COVID-19 Impact

    The COVID-19 outbreak has moderately affected the commercial avionics industry. The demand for sensors of aircraft is highly dependent on aircraft deliveries. Due to the coronavirus outbreak, there has been a reduction in passenger travel demand across the globe.

    Stringent lockdown measures coupled with limited movement of people has resulted in the cancellation of national and international flights, thus resulting in the plummeting of the aircraft sales, thus affected the product sales.

    The aerospace industry was severely affected by the pandemic with a huge order backlog with the aircraft OEMs, with several aircraft deliveries scheduled during the review period.

    Critical Questions Answered in the Report

    • What are the key trends in the market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision making for the existing players as well as those willing to enter the market.

    Report - Features

    Segmentation

    3

    Regions Covered

    5

    Countries/Sub-Regions Covered

    14

    No. of Figures & Tables

    >130

    Company Profiles

    10

     

    The following are the key features of the report:

    • Overview, industry life cycle analysis, supply chain analysis
    • Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Trend and forecast analysis
    • Segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Customization Options

    Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    Commercial avionics systems are referred to as electronic systems which are used on a commercial aircraft for monitoring, navigation, and related functions. The rising adoption of next-generation flight management systems is a key growth factor. The commercial aircraft avionics industry is mainly dependent on the demand for new aircraft and upgrades of avionics for existing aircraft.

    The market is expected to grow at a CAGR of 16.4% during the upcoming five years.

    North America is expected to grow at the highest CAGR in the following years.

    Honeywell International Inc. (The U.S), General Electric Company (The U.S), Thales Group (France), BAE Systems PLC (UK), Cobham PLC (UK), Esterline Technologies Corporation (The U.S), Diehl Stiftung & Co. KG (Germany), L3Harris Technologies Inc., Collins Aerospace (Raytheon Technologies Corporation) (The U.S), and Meggitt PLC (UK). are the key companies in the market.

    The narrow-body segment has the largest share of the market during the estimated time.

    The study period of the market is 2017-2028.

    The mandate for automatic dependent surveillance and strong growth in the retrofit aircraft market are some of the key factors propelling the product demand. Also, robust growth in emerging countries, the advent of advanced avionic systems for next-gen aircraft, rising need for real-time data, and growing number of aircraft orders further augment the market growth.

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