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Aircraft Next-Gen Avionics Market Globally Expected to Drive Growth through 2021-2027

06-11-2021 03:12 PM CET | Logistics & Transport

Press release from: Allied Market Research

Aircraft Next-Gen Avionics Market

Aircraft Next-Gen Avionics Market

Aircraft Next-Gen Avionics Market Outlook – 2027

The aircraft next-gen avionics is the most crucial component of aircraft systems and helps in providing various operational and virtual information in-flight and on the ground. The avionics are technologically advanced electronic systems that are used in spacecraft, artificial satellites, and aircraft. The avionics system receives data from the air traffic management system and feeds this information to the pilot to select an approach path to the destination. Aerospace avionics include navigation, communication, and surveillance systems along with other electrical systems and in-flight entertainment systems. These systems require regular maintenance of various systems and software upgrades. Aircraft manufacturers provide complete avionics systems with the aircraft and a few avionics systems, such as in-flight entertainment systems, can be customized based on the consumer requirement. The aircraft right computer system is a combination of multiple display units that are equipped in the aircraft to perform the right operation. The aircraft's next-gen avionics market growth can be attributed to rise in demand for air travel and rising economies during the forecast period.

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COVID-19 scenario analysis:

The dramatic drop in demand for passenger air transport due to the COVID-19 pandemic and containment measures is threatening the viability of many firms in both the air transport sector and the rest of the aviation industry, with many jobs at stake.

While the aviation industry has often been a target of government policies, the COVID-19 crisis has precipitated a new suite of loans, loan guarantees, wage subsidies, and equity injections, raising concerns about competition and the efficient use of public resources.

Air transport represents a small share of GDP but is closely linked to the activities of other sectors, especially airports and aircraft manufacturing collectively considered here as the “aviation industry” which has seen some tremendous drop down due to pandemic.

In light of the rapidly spreading disease named COVID-19 companies to need to actively monitors its economic impacts on civil aviation to contempt the spread on-board.

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.

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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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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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