Avionics Market Analysis 2023: Trends, Revenue, Demand, Business Insights And Forecast 2032 | Safran S.A., Honeywell Aerospace, Thales Group, L-3 Avionics Systems, Raytheon Technologies

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Avionics Global Market Report 2023 identifies increase in demand for new commercial aircraft as the major driver for the Avionics market's growth in the forecast period. Commercial aircraft refers to a plane that carries passengers or goods from one place to another. Avionics are used for the management of various systems in aircraft for controlling electronic systems and equipment.

The global avionics market size grew from $72.51 billion in 2022 to $78.46 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the avionics is expected to grow to $99.87 billion in 2027 at a CAGR of 6.2%.

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Major competitors in the Avionics market are Safran S.A., Honeywell Aerospace, Thales Group, L-3 Avionics Systems, Raytheon Technologies.

A key trend in the Avionics market includes Technological innovations. Major companies operating in the avionics sector are focused on new innovations to strengthen their position in the market. For instance, in March 2022, Genesys Aero Systems, a US-based manufacturer of flight systems, autopilot systems, and avionics components, launched HeliSAS, which is a helicopter autopilot system. This new system governs airspeed and allows the pilot to go hands-free to conduct cockpit tasks. This works on stability augmentation technology, which can effectively control the helicopter by using sensors, including magnetometers.

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The Avionics market is segmented -

1. By Platform: Commercial Aviation, Military Aviation, Business Jets, General Aviation, Helicopters.
2. By Sub System: Flight Management and Control, Health Monitoring, Electrical and Emergency, Communication Navigation and Surveillance
3. By End User: Original Equipment Manufacturer (OEM), Aftermarket
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Avionics market.

The Business Research Company's "Global Avionics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Avionics Market Include:

1. Executive Summary
2. Avionics Market Characteristics
3. Avionics Market Trends And Strategies
4. Avionics Forwarding Market - Macro Economic Scenario
5. Avionics Market Size And Growth
……
26. Africa Avionics Market  
27. Avionics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Avionics Market
29. Avionics Market Future Outlook and Potential Analysis
30. Appendix

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