Aerospace Avionics Market Share, Trends, Analysis, Industry Report and Forecast To 2024

Aerospace Avionics Industry Background

Regular modernizations in aerospace sector is another factor positively impacting the industry demand over the next eight years. The modernizations include innovative avionics that are majorly used in next generation transportation system launched by Single European Sky ATM Research (SESAR), Europe and Federal Aviation Administration (FAA), U.S. Introduction of new participants across the industry and high requirement of real time data will further strengthen the product penetration.

Prolonged product development durations may hamper the aerospace avionics market share over the forecast timeframe. Excessive costs of these products result in greater capital investments, further posing a challenge before the industry participants. Bringing the emerging technologies associated to these products to the industry is a lengthy process, which in turn will restraint the growth over the coming years.

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Aerospace Avionics Industry Overview

Aerospace Avionics Market size is anticipated to exhibit substantial growth from 2017 to 2024. Rising aircraft deliveries due to rising air passenger traffic will primarily drive the industry growth.

Various countries across the globe are increasingly spending on military sector, further propelling the revenue generation. Substantial growth of avionics in general aviation sector has led to increased production of display, navigation, and communication systems, inducing immense growth potential to the industry size till 2024.

Aerospace Avionics Industry By System

Aerospace avionics market share is segmented into communication, navigation & surveillance, flight & control management, inflight entertainment, mission/tactical, monitoring/glass cockpit, and electrical & emergency systems.

Flight & control management system is expected to dominate the revenue share till 2024 owing to high demand for information sharing of real time flight planning. Extensive usage of avionics in flight management will further support the industry dominance.

Aerospace Avionics Industry By Platform

Aerospace avionics market is segmented based on platform into commercial, UAVs, and defense. Defense platform is anticipated to exhibit highest aerospace avionics market share over the next eight years owing to rising deployment of avionics in military aircrafts. Increasing expenditure on defense sector across the globe will further strengthen the product penetration.

UAV will grow considerably owing to technological advancements and rising demand from commercial applications.

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Aerospace Avionics Industry By Region

North America aerospace avionics market will exhibit maximum revenue share till 2024. Substantial investments from component manufacturers and OEMs in R&D for development of advanced products will primarily drive the region’s growth. Moreover, presence of major aerospace industry leaders across the region will support the regional dominance.

Asia Pacific will witness substantial growth owing to rising investments in military & defense sector coupled with growth in overall aerospace industry in the region.

Competitive Aerospace Avionics Industry Share

Based on fit, the industry is segmented into retrofit and line-fit. Line-fit is likely to capture highest revenue share over the forecast timeframe owing to its high usage by prominent aerospace leaders including Airbus and Boeing. Retrofit avionics will exhibit steady growth owing to permissive policies regarding installation of non-certified equipment in certified aircrafts. Moreover, aging aircrafts require regular upgradation of these retrofit avionics, further propelling the industry growth.

Aerospace Avionics Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, Spain, China, India, Japan, Australia, Brazil, Mexico, GCC, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024

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