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Commercial Aircraft Nextgen Avionics Market Analysis, Business Development, Size, Share, Trends, Future Growth, Forecast to 2030

09-19-2022 12:37 PM CET | Associations & Organizations

Press release from: We Market Research

Commercial Aircraft Nextgen Avionics Market

Commercial Aircraft Nextgen Avionics Market

The global commercial aircraft nextgen avionics market was worth USD 4,420.0 million in 2020 and is poised to witness a CAGR of 8.3% over 2022-2030, thereby amassing a valuation of USD 9,150.5 million by end of the assessment timeline.

On next-generation avionics
In order to aid pilots in making precise manoeuvres, aeroplanes now feature next-generation avionics. They include of displays, sensors, transponders, flight management systems, navigational systems, autopilot systems, communication systems, and anti-collision systems. The number of operational aircraft has a significant impact on the market for next-generation avionics. Many existing fleets have been upgraded as a result of the arrival of the A320neo, A350XWB, and B737max as they attempt to absorb the most recent technologies included into these new aircraft. Additionally, the achievement of the ideal payload to range ratio is a result of the development of light-weight avionics.

The development of aviation-specific applications for widely used technologies, like the global positioning system (GPS), as well as technological advancements in fields like weather forecasting, data networking, and navigation, have made it possible for the transition from a ground-based air traffic control system to a satellite-based air traffic management system, known as next-generation avionics.

Aircraft equipped with self-monitoring avionics and operated by experienced pilots can use the precise and comprehensive satellite-based landing pathways to fly safely over populated areas or mountainous terrain. Both new commercial aircraft and business jets, as well as those being upgraded with next-generation avionics, are equipped with high levels of needed navigation performance (RNP) capabilities. The commercial aircraft next-generation avionics market is anticipated to be driven by the rising reliance on avionics to make important flying choices and the rise in government initiatives to make aerospace safer and more effective. The market is expected to increase, but complicated hurdles and cybersecurity issues with next-generation avionics systems are expected to restrain it. Additionally, the application of artificial intelligence (AI) and machine learning (ML) in next-generation avionics is anticipated to present the industry with attractive potential in the future.

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Global Commercial Aircraft NextGen Avionics Market- Key trends

Efficacy of avionic systems in recognizing aircraft safety constraints is aiding market expansion

There has been a steep rise in the occurrences of aircraft mishaps due to reasons such as miscommunication, collision with foreign objects, low visibility, and extreme weather conditions. The concerned authorities are taking a wide array of measures to make air transportation safer for the passengers and crew members. The integration of nextgen avionic systems into aircrafts offers several benefits such as the efficient obstacle identification, lesser risk of miscommunication between pilots and air traffic controllers along with improved speed and functionality, among others. This in turn is adding traction to the development of this industry sphere.

Global Commercial Aircraft NextGen Avionics Market- Segmental assessment

By Systems
• Flight Management System
• Communication System
• Electric and Navigation System
• Surveillance and Emergency System
• Collision Avoidance System
• Weather System
• Others

The weather system segment is reckoned to amass notable gains over the stipulated timeframe owing to the rising number of flight mishaps caused by extreme weather conditions.

By Installation Stage
• Forward Fit
• Retrofit

By Aircraft Type
• Narrow Body
• Wide Body

Global Commercial Aircraft NextGen Avionics Market- Competitive hierarchy
The prominent players characterizing the competitive terrain of this marketplace are BAE Systems PLC, Cobham Limited, Curtiss-Wright, General Electric Company, Honeywell International Inc., L3Harris Technologies Inc., Raytheon Technologies Corporation, Safran, Teledyne Technologies Incorporated, and Thales Group.

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Frequently Asked Questions
What is the growth rate projection for Global Commercial Aircraft NextGen Avionics Market over 2022-2030?
What are the expansion determinants of Global Commercial Aircraft NextGen Avionics Market?
What are the major segments covered in the Global Commercial Aircraft NextGen Avionics Market report?
Which systems segment presently leads the Global Commercial Aircraft NextGen Avionics Market?
Which is the fastest growing region in the Global Commercial Aircraft NextGen Avionics Market?

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We Market Research
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Email: sales@wemarketresearch.com
Web: https://wemarketresearch.com/

About We Market Research:
WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

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