Aerospace Avionics Market is Moving Fast! | Major Key Companies are Boeing, Rolls-Royce, Safran, Leonardo, Airbus, GE Aviation, Harris Corporation, Honeywell, Panasonic, Pratt and Whitney, GE Aviation, Collins Aerospace, and United Technologies

Driven by thriving aerospace industry and increasing air traffic, global aerospace avionics market is all set to garner massive gains over the span of 2019 to 2025. Speaking on potential future growth prospects, given below are the trends that are likely to impact the development of aerospace avionics industry across some of the major economies including North America, Asia Pacific, and Europe.

Market trends stimulating the growth graph across:

North America
It has been anticipated that North America aerospace avionics market would record a valuation of USD 29 billion by the end of 2025, driven by the technological developments put forth by some of the prominent industry players. For example, Rockwell Collins and Elbit Systems unitedly illustrated Gen 3 Helmet-Mounted Display System exclusively designed for F-35 fighter jets, in mid-2018. Integration of IT and real-time data into a potentially developed avionics systems would irrefutably support pilots to undertake critical decisions.

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• Elevating use in helicopters
North America aerospace avionics market from helicopters application segment is touted to depict a CAGR of 3 per cent over 2019 to 2025. This growth can aptly be ascribed to the robust presence of various leading and privately owned helicopter companies in the region. Personal operators are putting forth tremendous demand for easy to use avionics systems, to which industry players are responding by launching new flight management systems. Avidyne- an avionics producer in the U.S, recently launched Helios multi-function FMS to integrate into helicopters.

• Expanding integration in business jet and general aviation
Driven by mounting demand from business jet owners to keep their aircrafts integrated with advanced technologies, need for avionics systems is foreseen to expand phenomenally. In fact, it has been estimated that the segment would grow at a rate of 4 per cent through 2025.

Europe
Europe has positioned itself as a business hub for aviation technologies by conducting frequent business exhibitions and meetings. Citing an instance for the same, Europe hosted Helicopter Technology Central and Eastern Europe 2019 Conference in May last year, with the aim to improve its technical proficiency in the helicopter avionics business space. Such initiatives allow Europe to scale its market potential and take tactical actions in aerospace avionics industry, which is expected to account for USD 26 billion by 2025 in the region.

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• Rising demand for in-flight entertainment
The demand for in-flight entertainment units has offered a significant boost to the adoption of avionics systems across various aircrafts, allowing the segment to witness a CAGR of 5 per cent through 2026. Some of the major factors supporting burgeoning demand for these units are need for enhanced passenger experience, in-flight connectivity, and technological advancements in the realm. These parameters have enabled manufacturers to go nine yards for production of in-flight entertainments, which is also likely to enhance the business space.

• Navigation and avionics system
Navigation segment across aerospace avionics market is poised to demonstrate a growth of 12 per cent over the foreseeable time frame, subject to the rising efforts by European countries to augment their aircraft navigation systems. As a matter of fact, industry players and various government agencies are taking immense efforts to upscale their aircraft navigation systems by establishing various navigation procedures.

Asia Pacific
As per reports, Asia Pacific aerospace avionics market is predicted to record gains of USD 21 billion in terms of revenue by 2025, primarily due to the enumerated trends:

• Growing investments in military sector
Prolific investments in the military aviation sector are expected to open up new growth opportunities for APAC aerospace avionics market as countries in the region are looking forward to developing military aircraft fleet that would bolster its defense sector to support terrorists and geopolitical concerns and activities. For an example, India declared its plans of ordering 114 multirole fighter jets while investing over 1 trillion to empower the defense in the country.

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• Massive momentum of flight management systems
Flight management systems had held a prominent share of 19 per cent in the overall aerospace avionics market in 2018 and is anticipated to exhibit notable gains in the years to follow. These systems offer vivid benefits including shorter flight paths that have led to a massive reduction in fuel consumption and increasing operational capability. Major regional producers are laying emphasis on introducing new open architecture for avionics that would also support the industry progression in the years to follow. Not to mention, intervention of regional government regulations is further contributing to the rising aerospace avionic growth graph across APAC.

• Escalating demand from OEMs
The Original Equipment Manufacturers are highly opting for aerospace avionics due to accelerating orders from aircraft operators to aircraft producers. What has been fostering the segmental growth is the need for finely developed avionics components in the defense and aerospace sector boasting of exceptional operational capabilities. In this regard, it would be safe to declare that OEM segment would depict growth rate of 4 per cent through 2025.

• Booming demand for avionics from China aerospace industry
Amidst the intense share battle, China is all set to accrue substantial gains in the overall APAC aerospace avionics market. This can be credited to the fastest growing economy in the country. It was reported that the nation acquired a share of 30 per cent in 2018 and is estimated to grow periodically over the due course of time. Besides, some of the famous aircraft operators in the region are calling out for need for enhanced communication and avionics systems to address to the burgeoning demand for these products. For instance, Boeing had in 2018, launched its first 737 completion plant in China which concluded the U.S- China trade war and established new growth opportunities.

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