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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, Size, Share, Dynamics, Trends, Forecast,  Growth, an See more...

    Market Insights

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

    Commercial-Avionics-Market-Insights
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    Market Dynamics

    Introduction

    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 Report Overview

    Market Growth (2023-2028)

    16.4% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    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.

    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.

    Segments Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Aircraft-Type Analysis

    Narrow-body, Wide-body, Regional Aircraft

    The narrow-body segment is estimated to register a healthy CAGR during the forecast timeline.

    Regional Analysis

    North America, Europe, Asia-Pacific, and Rest of the World

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

    Aircraft Trends

    "The narrow-body segment held a significant market share in 2022 and is estimated to register a healthy CAGR during the forecast timeline".

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

    "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-Regional-Analysis

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    Key Players

    The following are the key players in the Commercial Avionics Market (arranged alphabetically).

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

    Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

    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?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Commercial Avionics Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    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.

    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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