Commercial Aircraft NextGen Avionics Market Size Future Scope Demands and Projected Industry Growths to 2030

Increase in dependency on avionics to make critical flying decisions and initiatives by government administrations to make aerospace efficient and safe have boosted the growth of the global commercial aircraft nextgen avionics market. However, the complexity in nextgen avionics and cybersecurity issues with nextgen avionics systems hinder the market growth. On the contrary, surge in air passenger traffic across the globe and use of artificial intelligence and machine learning in nextgen avionics are expected to open lucrative opportunities in the future.

According to a recent report published by Allied Market Research, titled, "Commercial Aircraft NextGen Avionics Market by System, Installation Stage, and Aircraft Type: Global Opportunity Analysis and Industry Forecast, 2021-2030,"

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The transition to the next generation of aviation infrastructure (nextgen) is aided by the adoption of miniaturized, satellite-based, and digital machinery as well as new procedures, all of which join forces to make air travel more convenient, environment-friendly, and predictable in the face of ever-growing congested airspace in the U.S. and across the world.

The global commercial aircraft nextgen avionics market was valued at $4.42 billion in 2020, and is projected to reach $ 9.15 billion by 2030, registering a CAGR of 8.3%.

Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. China dominated the global commercial aircraft nextgen avionics market share in 2020, owing to increase in R&D activities, technological developments by big players, and rapid adoption of AI technologies in nextgen avionics. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in investments to ensure high efficiency of its aviation sector across various countries in the region.

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By system, the market is categorized into flight management system, communication system, electric and navigation system, surveillance system, emergency system, collision avoidance system, weather system, and others. The communication system segment accounted for the highest revenue in 2020, owing to high demand for superior data communication systems across the globe. The growing demand for improved communication systems is expected to result in a higher demand for communication systems in future.

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By aircraft type, the commercial aircraft nextgen avionics market is bifurcated into narrow body and wide body. The narrow body segment accounted for the highest revenue in 2020, owing to higher range and efficiency of next-generation narrow body aircraft manufactured by big players such as Boeing and Airbus.

Key players operating in the global commercial aircraft nextgen avionics market include 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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