Aerospace Avionics Market Outlook: Big Test in Years to Come (In-depth Post COVID-19 Impact Analysis)


Posted July 7, 2022 by ShrikantM

The global aerospace avionics market is predicted to witness a remarkable growth, demonstrating a CAGR of 9.26% and likely to reach an estimated value of USD 75.81bn by 2027 as against its valuation of USD 48.0bn in 2019

 
The global aerospace avionics market is predicted to witness a remarkable growth, demonstrating a CAGR of 9.26% and likely to reach an estimated value of USD 75.81bn by 2027 as against its valuation of USD 48.0bn in 2019

Growing concerns over national security is compelling the governments to increase their military expenditure, adding to more fighter aircraft for combat operations.

Researchmoz illustrates the global aerospace avionics market, which includes market size, drivers, restraints, trends, opportunities, regional topography, and competitive edge.

Next-Generation Technologies Surge Growth Opportunities

The ever-booming technologies have been one of the primary factors for the avionics market to skyrocket by providing the best experience to its customers and vicariously serving passengers in the case of commercial aircraft.

Heavy expenditure on research and development is paving the way for next-generation technologies such as electric hybrid aircraft, open mission systems and neural sensing, etc. which can bring out a transformational shift in commercial and military avionics.

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Commercial Aircrafts Enriches Aerospace Avionics

Increasing demand for upgrading commercial flights and strengthening the fleet by adding more aircraft is stimulated the growth in the global aerospace avionics market.

Growing governments support to promote tourism is also leading to higher demand for commercial aviation, thus resulting in demand for avionics. The governments are bringing in travel and tourism policies to invite more tourists to their countries, thus increasing passenger traffic and flights and expanding the growth possibilities for the aerospace avionics market.

Maintenance of avionics and timely upgradation involves a lot of costs, which could act as a restraint in the global aerospace avionics market in the forecast period.

That said, the software systems of avionics will allow the aerospace avionics market to flourish in the coming years.

Analyst’s View

According to analysts, the increasing demand from commercial aviation to cater to passenger traffic from all over the world would proliferate the global aerospace avionics market in the future.

Commercial aviation uses navigation systems, communication systems, surveillance systems, flight management systems, etc., thus pushing the aerospace avionics market to swell up.

The demand from military aviation for fighter aircraft, jets, UAVs, etc. will also add to the growth opportunities of the aerospace avionics market in the next few years.

These are the key players in the aerospace avionics market

Safran (France)
Honeywell (US)
Esterline Technologies (US)
Thales Group (France)
Curtiss-Wright (US)
United Technologies Corporation (Collins Aerospace) (US)
Nucon Aerospace (India)
Cobham PLC (U.K)
uAvionics Corporation (US)
Garmin Ltd (US)
Meggit (U.K)
CCX Technologies (Canada)
System Outlook

Hardware
Flight Management Systems
Communication Systems
Navigation Systems
Surveillance Systems
Electrical Systems
Emergency Systems
Mission & Tactical Systems
Inflight Entertainment Systems
Health Monitoring Systems
Collision Avoidance Systems
Weather Systems
Software
Safety-critical Airborne Software
Mission Flight Management Software
Flight Management Software
Aircraft Health Diagnostic Software
Training & Simulation Software
Others (avoidance re-routers and flight situational awareness solutions)
Platform Outlook

Commercial Aviation

Military Aviation
Business Jets & General Aviation
Helicopters
End-User Outlook

OEM
Aftermarket
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Key Takeaways

The comprehensive report by Researchmoz provides all the information, and data-based facts pertaining to all the aspects of the aerospace avionics market. Let’s now look into the key takeaways of the report:

The global aerospace avionics market will witness an estimated value of USD 75.81bn by 2027, exhibiting a growth of CAGR of 9.26% during the forecast period 2019 to 2027.
Growing military expenditure from the governments will add more fighter jets for combat operations, leading to the expansion of the global aerospace avionics market during the forecast period.
Software systems will foresee a high demand in the aerospace avionics market.
North America will lead the global aerospace avionics market due to growing military spending and demand for commercial fleet expansion.
OEMs will thrive due to an increase in the manufacturing of military aircraft in the forecast years.
Next-generation technologies will lead to staggering growth in the aerospace avionics market over the forecast years.

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Tags aerospace avionics market
Last Updated July 7, 2022