Avionics Industry to See Robust Expansion, Valued at $120.72 Billion by 2029

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What Is the Projected CAGR for the Avionics Market from 2024 to 2025?
Recent years have witnessed robust growth in the avionics market size. The market is projected to intensify from a value of $84.35 billion in 2024 to approximately $90.5 billion in 2025, showcasing a compound annual growth rate (CAGR) of 7.3%. This considerable expansion during the historical period is ascribed to vigorous economic progress, elevated demand for commercial airplanes, widening of the aerospace and defense industry, strict environmental guidelines, and the modernization of the military.

What are the Expected Market Size and CAGR for Avionics by 2029?
The market for avionics is predicted to experience notable expansion in the upcoming years. It is projected to reach a value of $120.72 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.5%. The predicted growth for this period is due to several factors, including digital transformation, a rise in consumer disposable income, investment in expanding aircraft fleets, and an increased demand for unmanned aerial vehicles (UAVs). Key trends expected during this period consist of artificial intelligence and machine learning, sophisticated cockpit displays, data analytics and predictive maintenance, remote and autonomous operations, along with the integration of augmented reality (AR) and virtual reality (VR).

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Which Factors Are Driving the Global Avionics Market Expansion?
The projected growth in the avionics market is largely attributed to the surge in demand for new commercial aircraft. Commercial aircraft are specifically designed for the transportation of either passengers or cargo. Avionics plays a crucial role in managing multiple systems within an aircraft, including the control of electronic systems and equipment. As per data from the Airbus, a Netherlands-based aerospace corporation, in February 2022, it was anticipated that the Asia-Pacific region would need 17,620 new passenger and freighter aircraft. This figure encompasses the need for 13,660 small capacity aircraft, and 2,470 medium and 1,490 large capacity aircraft. Therefore, the surge in demand for new commercial aircraft is fuelling the growth of the avionics market.

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Which Segment Currently Holds the Largest Share of 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), Aftermarket

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

Which Major Trends Are Shaping the Future of the Avionics Industry?
A significant trend gaining momentum in the avionics market is the emergence of technological innovations. Main players in the avionics space are focusing on bringing in new innovations in order to bolster their market stance. As a recent example, in March 2022, Genesys Aero Systems, an American company that manufactures flight systems, autopilot systems, and avionic components, launched a new product named HeliSAS, an autopilot system for helicopters. This innovative system controls the airspeed and enables the pilot to operate hands-free, efficiently performing cockpit tasks. The system employs stability augmentation technology, managing the helicopter through the use of sensors such as magnetometers.

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Which Key Players Dominate the Avionics Industry Globally?
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

What Are the Fastest-Growing Regions in the Avionics Market?
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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