According to Transparency Market Research’s latest research report on the global commercial avionics systems market for the historical period 2017, base year 2018, and the forecast period 2019-2027, growing demand for systems that can calculate real time data for the aviation industry is likely to fuel the global commercial avionics systems market during the forecast period
In terms of revenue, the global commercial avionics systems market is estimated to reach value of US$ 34.44 Mn by 2027, expanding at a CAGR of 3.5% throughout the forecast period
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Growing Demand for Systems that can Calculate Real Time Data: A Key Driver
Real-time data plays a crucial role in avionics systems. Over the past few years, systems calculating real time data were integrated in avionics systems
The aviation industry has witnessed continuous growth in the development of commercial avionics systems. Manufacturers of commercial avionics systems are continuously upgrading their offerings with latest technology to fulfill needs of their customers. The commercial avionics system includes several sub systems such as integrated modular avionics, avionics full duplex switched ethernet, surveillance systems, cockpit systems, cabin systems, flight control and emergency system, navigation systems, electrical systems, communication systems, and central maintenance systems.
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For instance, GE Aviation offers communication management application that is fully docile with ACARS and ATN data communications networks. This communication application is integrated with flight management application and is hosted on the integrated modular avionics compute
These growing needs from aviation industry is met by advanced and accurate real time data provided by various avionics systems
Evolution of Aviation Industry: Latest Trend in the Global Aviation Industry Market
Rapid evolution of the aviation industry, especially in developed economies such as North America and Europe is setting the trend for the growth of the commercial avionics systems
Substantial opportunity for development and improvement are being offered to the market players of the global commercial avionics systems
Global commercial avionics systems market is also believed to have benefitted from various technological innovations and advancements that are taking place in the aviation industry. Technological developments such as better in-flight entertainment systems and modern glass cockpits are benefitting the global market for commercial avionics system
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High System Maintenance Cost a Major Challenge for the Global Commercial Avionics Systems Market
Unwillingness of the market players to participate in larger activities owing to high system maintenance costs is restricting the growth of the global market for commercial avionics systems.
Furthermore, aviation vehicles have become more vulnerable to online hacks due to the usage of modern commercial avionics system
The high cost of system maintenance and online system hacks is expected to impact directly towards the commercial avionics systems market
Global Commercial Avionics Systems Market: Competition Landscape
Detailed profiles of providers of commercial avionics systems have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
Key players operating in the global commercial avionics systems market are
- Honeywell Aerospace
- Thales Group
- Rockwell Collins Inc.
- L-3 Avionics System
- United Technologies Corporation
- Avidyne Corporation
- GE Aviation
- Panasonic Avionics Corporation
- Garmin Ltd.
- Universal Avionics System Corporation.
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Global Commercial Avionics Market: Key Developments
Key provider of commercial avionics systems such as Panasonic Avionics Corporation is focusing on acquisitions and development of innovative products to offer a diversified range of products and win more customers. Some key developments in the global commercial avionics systems market includes:
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