Press release
Commercial Aircraft Nextgen Avionics Market Global Report 2025: Trends, Growth Drivers, and Forecast To 2034
Commercial Aircraft Nextgen Avionics Market
Anticipated Market Upsurge Driven By Increased Air Traffic, Emergence of Fuel-Efficient Airframe Designs, and Growing Commercial Aircraft Needs.
What Is The Projected Market Size Of The Global Commercial Aircraft Nextgen Avionics Market And Its Growth Rate?
The Commercial Aircraft Nextgen Avionics Market is witnessing substantial growth.
• 2024 Market Size: $3.39 billion
• 2025 Market Size: $3.79 billion (11.8% CAGR)
• 2029 Market Size: $5.81 billion (11.3% CAGR)
The observed growth is largely due to increased air traffic, growth in travel and tourism, rise in disposable income, and expansion of the aviation industry.
What Is Driving The Growth In The Commercial Aircraft Nextgen Avionics Market?
The increase in air passenger traffic, both local and foreign, is propelling the growth of the commercial aircraft NextGen avionics market. The necessity of effectively managing air traffic is being addressed through NextGen avionics, thereby driving the market growth. For instance, in May 2022, the International Civil Aviation Organization reported a 65% increase in air travelers and a 30% rise in aircraft departures compared to the same period in 2021.
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Who Are the Key Players Driving Commercial Aircraft Nextgen Avionics Market Growth?
Significant players operating in the commercial aircraft nextgen avionics market include:
• Cobham Limited
• Curtiss-Wright Corp.
• General Electric Company
• Honeywell International Inc.
• L3Harris Technologies Inc.
• Raytheon Technologies Corporation
• Safran S.A
• Teledyne Technologies Incorporated
• Thales Group
• Elbit Systems of America LLC
What Are The Key Trends In The Commercial Aircraft Nextgen Avionics Market?
Upcoming trends in the market include:
• Digital cockpit modernization
• Advancements in connectivity and communication
• Autonomous flight technologies
• AI and Machine Learning
• Advancements in Human-Machine Interface (HMI)
What Are The Segments Of The Global Commercial Aircraft Nextgen Avionics Market?
The market is segmented based on:
1) Systems: Flight Management System, Communication System, Electric and Navigation System, Surveillance and Emergency System, Collision Avoidance System, Weather System, Other Systems
2) Installation Stage: Forward Fit, Retrofit
3) End User: Regional, Narrow Body, Wide Body
Which Region Leads The Commercial Aircraft Nextgen Avionics Market?
Asia-Pacific dominated the commercial aircraft nextgen avionics market in 2024. However, North America is projected to exhibit the fastest growth in the forecast period. The market coverage includes regions like Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Commercial Aircraft Nextgen Avionics Market Global Market Report?
- Market Size Analysis: Analyze the Commercial Aircraft Nextgen Avionics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Commercial Aircraft Nextgen Avionics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Commercial Aircraft Nextgen Avionics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Commercial Aircraft Nextgen Avionics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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