Commercial Avionics Market Report
Commercial Avionics Market, Dynamics, Trends, and Market Analysis See less
Commercial Avionics Market, Dynamics, Trends, and Market Analysis
The report on the Commercial Avionics Market is segmented By Aircraft Type (Narrow-body, Wide-body, Regional Aircraft), By Subsystem (Health Monitoring Systems, Flight Management and Control Systems, Communication and Navigation, Cockpit Systems, Visualizations and Display Systems, Others), and Region. This report also covers the COVID-19 Impact Analysis and Forecast to 2026. This market research report provides an in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global commercial avionics market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The report on the Commercial Avionics Market is segmented By Aircraft Type (Narrow-body, Wide-body, Regional Aircraft), By Subsystem (Health Monitoring Systems, Flight Management and Control Systems, Communication and Navigation, Cockpit Systems, Visualizations and Display Systems, Others), and Region. ...
The Commercial Avionics Market is estimated to grow from USD xx million in 2020 to USD xx million by 2026 at a healthy CAGR of 16.4% during the forecast period.
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.
Key players operating in the commercial avionics market are
The mandate for automatic dependent surveillance and strong growth in the retrofit aircraft market are some of the key factors propelling the product demand.
Based on aircraft type, the commercial avionics market is categorized into narrow-body, wide-body, regional aircraft.
By region, the market in North America accounted for a significant share in 2020 and is expected to grow at the highest CAGR in the following years.
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.
The following is a list of the customers that the Commercial Avionics market aims to convert the most:
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The commercial avionics market is expected to witness an impressive growth of 16.4% CAGR in the coming 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 among the key players in the commercial avionics market.
The mandate for automatic dependent surveillance and strong growth in the retrofit aircraft market are the factors driving the growth of commercial avionics market.
Narrow-body segment is expected to register a healthy CAGR in the commercial avionics market in the coming years.
North America is expected to register the highest CAGR in the commercial avionics market in the next five years.
Commercial Avionics vendors, Commercial Avionics retailers, Aerospace companies, Aerospace OEMs are the target audience in the commercial avionics market.
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