Aircraft Next-Gen Avionics Market key Drivers, Business Insights, Trends and Applications by 2027
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North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), LAMEA (Latin America, the Middle East, and Africa)
Airbus S.A.S, Aviation Industry Corporation of China Ltd., Astronics Corporation, Boeing, Ball Corporation, BAE Systems, Cobham plc, Curtiss Wright, Elbit System, and Gramin Ltd
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Some of the factors that boost the demand for air travel and technological advancement in-flight management systems are expected to spur the demand during the forecast period. However, increasing vulnerability of avionics to cyberattacks is anticipated to hamper the growth of the market. Furthermore, rise in use of advanced navigation and surveillance technologies for avionics and the implementation of ACAS in general aviation aircraft are expected to offer lucrative opportunities for the market during the forecast period.
The aircraft next-gen avionics market trends are as follows:
Rise in demand for air travel
Rise in growth is expected to generate countless new routes and require hundreds of new airports and thousands of new planes and pilots. In addition, such a dramatic increase in flight would also be accompanied by a surge in greenhouse gases linked to climate change, so the industry is doubling down on efforts to improve fuel efficiency and curb emissions. The growth in most developing economies can be attributed to increase in regional connectivity and the opening of new routes for tourism by the governments which will drive the aircraft next-gen avionics market during the forecast period.
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Technological advancement in-flight management system
The flight management system market will account to be growing of the aerospace avionics industry revenue in coming years with the introduction of low-cost airlines and increase in demand for new aircraft from the developing economies. Most of the developed regions are focusing on upgrading their existing aircraft fleet to provide better services to passengers. The surveillance system market will witness significant growth in the aerospace avionics market with the advancements of existing systems and new aircraft deliveries. Hence, the growing advancement in the flight management system is boosting the growth of the aircraft next-gen avionics market and will further grow during the forecast period.
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