The global commercial aerospace avionics market is expected to reach a considerable value by 2026, expanding at a CAGR of 4.1% during the forecasted period from 2020 to 2026. Aerospace avionics are important components of aircraft systems that help in providing virtual and operational information in-flight and on the ground. The conventional aircraft have been replaced with the fuel-efficient aircraft due to rising energy costs, which accounts for a significant portion in the operation of commercial airlines. In addition, rising needs to reduce total aircraft weight by using lightweight parts, which improve its energy efficiency, is likely to bolster the growth for the market.
Factors such as advancement in technology, the advent of IoT, GPS, and sensors, cheap air flight, rising demand for lightweight, new generation, and fuel-efficient aircraft, and hectic lifestyle that requires quick travels have catalyzed the market growth for these systems. GE is one such company that is developing aerospace avionics and exporting it to other countries.
The Asia Pacific region is growing rapidly in terms of adoption of these systems, countries such as India, China, Japan, Indonesia, Singapore, and South Korea are investing in R&D to develop new technologies and improve the existing systems. Rapidly growing population, the advent of technologies, increased net disposable income, lucrative government policies, growing tourism industries, and comfortable flying experience have bolstered the demand for commercial aerospace avionics system and is predicted to continue the same in the forecasted period.
Market Trends, Drivers, Restraints, and Opportunities:
- The rapid advancement in technology, improved safety features, urbanization, increased net disposable incomes, growing tourism business, lucrative government policies for the aviation industries such as UDAN of the India governement have increased the demand for these systems.
- The latest trend in the global commercial aerospace market is that its aircraft are attached with the latest technologies such as GPS systems, glass cockpits, and control touch screens to enhance the user experience.
- The commercial aerospace avionics are costly compared to conventional alternatives. In addition, the increasing threat of cyberattacks is hampering the growth of these systems.
- The collaboration of the aviation and entertainment industry provides many opportunities for growth. The IFEC or inflight entertainment and connectivity is one such example, which can leverage the latest streaming media channels such as Netflix and Amazon Prime.
Key players operating in the global commercial aerospace avionics market are Garmin, GE, Honeywell, Mitsubishi, Thales, Rockwell Collins, and Northrop Grumman. Major strategies followed by these players are a market expansion to increase the geographical reach, mergers & acquisitions, investment in R&D to develop new systems, partnerships, and create entry barriers for new players. The commercial aerospace avionics market is highly dynamic and mostly dominated by big players. GE is a market in aerospace and electronic components. It has leveraged the latest technologies to optimize the aerospace avionics systems.
The global commercial aerospace avionics market has been segmented based on
- Flight Management System
- Communication System
- Navigation System
- Surveillance System
- Electric System
- Emergency System
- Collision Avoidance System
- Weather System
- Health Monitoring System
- Tactical System
- In-Flight Entertainment
- Commercial Aviation
- Military Aviation
- Business Jet & General Aviation
- Asia Pacific
- North America
- Middle East & Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Commercial Aerospace Avionics Market Overview
- Global Commercial Aerospace Avionics Market Analysis and Forecast by Type
- Global Commercial Aerospace Avionics Market Analysis and Forecast by Application
- Global Commercial Aerospace Avionics Market Analysis and Forecast by Sales Channel
- Global Commercial Aerospace Avionics Market Analysis and Forecast by Region
- North Commercial Aerospace Avionics Market Analysis and Forecast
- Latin Commercial Aerospace Avionics Market Analysis and Forecast
- Europe Commercial Aerospace Avionics Market Analysis and Forecast
- Asia Pacific Commercial Aerospace Avionics Market Analysis and Forecast
- Middle East & Africa Commercial Aerospace Avionics Market Analysis and Forecast
- Competition Landscape
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