Commercial Avionics Market Growth Analysis Report (2023-2028)

Market Insights

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

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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.

Market Dynamics

Market Drivers

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.

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.

Segments Analysis

Aircraft Trends

"The narrow-body segment accounted for the largest market share."

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

"North America accounted for the largest market share."

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.

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Critical Questions Answered in the Report

• What are the key trends in the global 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 global 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?

Key Players

The following are the key players in the commercial avionics market (arranged alphabetically).

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

Note: The above list does not necessarily include all the top players in the market.

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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.

What Deliverables Will You Get in this Report?

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 (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s commercial avionics market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a 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 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

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