Avionics Market Expected to Achieve 7.8% CAGR by 2029: Growth Forecast Insights

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How Large Will the Avionics Market Size By 2025?
In recent years, the avionics market has seen significant growth. The market size will increase from $84.35 billion in 2024 to $91.05 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.9%. The growth observed in the past can be credited to robust economic growth, a rise in demand for commercial aircraft, the growth of the aerospace and defense sector, strict environmental regulations, and military modernization.

How Big Is the Avionics Market Size Expected to Grow by 2029?
Predictions for the avionics market size project substantial growth in the coming years, increasing to a significant $122.96 billion by the year 2029, at a compound annual growth rate (CAGR) of 7.8%. Key factors contributing to this growth during the forecast period include the surge of digital transformation, a rise in consumer disposable income, investment in the expansion of aircraft fleets, and escalating demand for unmanned aerial vehicles (UAVs). Notable trends anticipated during the forecast period encompass developments in AI and machine learning, the evolution of sophisticated cockpit displays, an increase in data analytics and predictive maintenance, advancements in remote and autonomous operations, and the incorporation of augmented reality (AR) and virtual reality (VR).

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Which Key Market Drivers Powering Avionics Market Expansion and Growth?
The surge in the need for new commercial aircraft is anticipated to fuel the avionics market's expansion in the future. Commercial airplanes, which transport passengers or goods from one location to another, employ avionics to manage a range of onboard systems and control electronic devices and equipment. For example, Airbus, an aerospace corporation based in the Netherlands, reported in February 2022 that the Asia-Pacific region needed 17,620 new passenger and freighter airplanes. This number includes 13,660 small aircraft, with the remainder made up of 2,470 medium-sized and 1,490 large-category airplanes. As a result, the rising demand for new commercial aircraft is stimulating the avionics market.

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Which Fast-Growing Trends Are Poised to Disrupt the Avionics Market?
The rise of technological advancements has been identified as a crucial trend that's becoming more prevalent in the avionics market. Many prominent companies dominating the avionics industry are leaning towards introducing new, inventive solutions to solidify their market foothold. To illustrate, Genesys Aero Systems, a prominent American producer of flight systems, autopilot systems, and avionics components, unveiled HeliSAS, a new helicopter autopilot system, in March 2022. This cutting-edge system manages airspeed and offers hands-free operation for the pilot to handle cockpit responsibilities. The system operates on stability augmentation technology, leveraging sensors such as magnetometers in order to efficiently maneuver the helicopter.

What Are the Emerging Segments in the Avionics Market?
The avionics market covered in this report 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), After market

Subsegments:
1) By Commercial Aviation: Air Transport Aircraft, Regional Aircraft
2) By Military Aviation: Fighter Aircraft, Transport Aircraft, Unmanned Aerial Vehicles (UAVs)
3) By Business Jets: Light Jets, Mid-Size Jets, Large Jets
4) By General Aviation: Single-Engine Aircraft, Multi-Engine Aircraft, Turboprop Aircraft
5) By Helicopters: Civil Helicopters, Military Helicopters, Commercial Helicopters

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Who Are the Global Leaders in the Avionics Market?
Major companies operating in the avionics market include Safran SA, Honeywell International Inc., Thales Group, L-3 Avionics Systems, Raytheon Technologies Ltd., GE Aviation Inc., BAE Systems plc, Meggitt plc, Rockwell Collins Inc., Panasonic Avionics Corporation, Garmin Ltd., Universal Avionics System Corporation, Airbus SE, The Boeing Company, Cobham Limited, Curtiss-Wright Corporation, Teledyne Technologies Inc., Raytheon Technologies Corp., L3Harris Technologies Inc., Leonardo S.p.A., Moog Inc., Esterline Technologies Corporation, Astronics Corporation, Elbit Systems Ltd., FLIR Systems Inc., Avidyne Corporation, Aspen Avionics Inc., FreeFlight Systems, Mid-Continent Instruments and Avionics, Bendix Aviation Corporation

Which are the Top Profitable Regional Markets for the Avionics Industry?
North America was the largest region in the avionics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the avionics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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