In a recent published report, Kenneth Research has updated the market report for Commercial Avionics Market for 2024 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2024- Positive Growth in the economic demand and supply.
According to the statistics by the Organization for Economic Co-operation and Development (OECD), the United States recorded to be the largest exporters of international trade in services amongst all the OECD nations with a value worth USD 827 billion in the year 2018.
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Global Commercial Avionics Market is forecasted to reach $27 billion by 2024; growing at a CAGR of 4.1% between 2016 and 2024. Avionics consist of electro-mechanical and electronic systems used on aircraft, artificial satellites and spacecraft, which assist the pilots in safe and efficient operation of an aircraft. Avionics system comprises of communications, navigation, display system and many other systems that perform various functions. Modern avionics consist of advanced technology and software-intensive systems. The increase in business and leisure has led to the growth of global air traffic, supplementing the demand for commercial avionics systems in the aviation industry. Adoption of next-generation aircrafts, emerging economies in developing nations, and increasing technological advancements in navigation systems, are the major factors driving the global commercial avionics market. Moreover, requirement for real time data has also fueled the growth of the market. However, growing cyber threats and unstable economic problems could hinder the growth of the market. Desire for glass cockpits and expansion in untapped markets would provide attractive business opportunities for the market in the coming years.
The global commercial avionics market is segmented on the basis of aircraft type, system type and geography. By aircraft type, the market is further segmented into rotary wing aircraft, and fixed wing aircraft (very large aircraft, wide body aircraft and narrow aircraft). By systems type, the market is categorized into integrated modular avionics, cockpit systems, avionics full duplex switched Ethernet, cabin systems, navigation, flight control & emergency, surveillance, electrical systems, communication systems, central maintenance systems and others.
By geography, the commercial avionics market is bifurcated into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, United Kingdom and others. Asia-Pacific covers China, India, Japan, Australia, Singapore and others. Rest of the world (RoW) covers South America, Middle East and Africa.
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The key players in the commercial avionics market include Universal Avionics System Corporation, United Technologies Corporation, Diehl Aerospace GmbH, Panasonic Avionics Corporation, General Electronics, L-3 Communications, Honeywell Aerospace, Rockwell Collins, Astronautics Corporation of America and Curtiss-Wright Corporation, among others.
The key takeaways from the report:
The report will provide detailed analysis of Commercial Avionics Market with respect to major segments such as aircraft type and systems type
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities is included in the report. An exhaustive regional analysis of Commercial Avionics Market will be provided in the report.
Profile of the key players in the Commercial Avionics Market will be provided, which include key financials, product & services, new developments and business strategies.
Scope of Commercial Avionics Market
Aircraft Type Segments
Fixed Wing Aircraft
Very Large Aircraft
Wide Body Aircraft
Narrow Aircraft
Rotary Wing Aircraft
Systems Type Segments
Integrated Modular Avionics
Avionics Full Duplex Switched Ethernet
Cockpit Systems
Cabin Systems
Flight Control & Emergency
Navigation
Surveillance
Electrical Systems
Communication Systems
Central Maintenance Systems
Others
Geographical Segments
North America
US
Canada
Mexico
Europe
Germany
France
United Kingdom
Spain
Others
Asia-Pacific
China
India
Japan
South Korea
Others
RoW
South America
Middle East
Africa
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