The Commercial Avionics Systems Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Commercial Avionics Systems Global Market Report 2024, The commercial avionics systems market size has grown strongly in recent years. It will grow from $30.23 billion in 2023 to $32.29 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to aircraft modernization, regulatory compliance, enhanced communication systems, fuel efficiency demands, automation and autonomy, increased passenger expectations.
The commercial avionics systems market size is expected to see strong growth in the next few years. It will grow to $42.02 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to cybersecurity concerns, environmental regulations, remote and condition-based maintenance, urban air mobility, and international air travel recovery. Major trends in the forecast period include next-gen avionics platforms, autonomous flight technologies, electric and hybrid aircraft, in-flight entertainment systems, satellite navigation systems, health monitoring and predictive maintenance.
An increase in the number of airline passengers is expected to propel the growth of the commercial avionics systems market going forward. The avionic systems are the electronic systems used on aircraft that include communications, navigation, the display and management of multiple systems, and other functions. This helps in the better functioning of aircraft, which would result in increased passenger numbers. For instance, in March 2023, according to Bureau of Transportation Statistics, a US-based government agency, the United states airlines carried 853 million airline passengers in 2022 increased from 658 million airline passengers in 2021.. Therefore, the increasing number of airline passengers is driving the commercial avionics systems market growth.
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The commercial avionics systems market covered in this report is segmented –
1) By Sub System: Flight Management And Control, Health Monitoring, Electrical And Emergency, Communication Navigation And Surveillance, Other Sub Systems
2) By Fit: Retrofit, Forward Fit
3) By Aircraft Type: Narrow Body, Wide Body, Regional and Business Jet, Freighter
Major companies operating in the commercial avionics systems market are focused on introducing advanced solutions, such as the cloud-native cockpit system, to provide a competitive edge in the market. Cloud-native cockpit systems are avionics systems that are built on a cloud computing platform and designed to provide always-on, cloud-connected avionics, enabling the transfer and storage of data from ground-based servers. For instance, in October 2021, Honeywell International Inc., a US-based multinational conglomerate corporation, launched the Anthem Scalable Avionics System. Anthem Scalable Avionics System is a next-generation, cloud-native cockpit system that is designed to revolutionize the aviation industry. It has smart display screens that manage communication, navigation, and surveillance system functionality. It is designed to be scalable and customizable and is used for a wide range of aircraft, such as large passenger and cargo planes, business jets, and helicopters.
The commercial avionics systems market report table of contents includes:
1. Executive Summary
2. Commercial Avionics Systems Market Characteristics
3. Commercial Avionics Systems Market Trends And Strategies
4. Commercial Avionics Systems Market – Macro Economic Scenario
5. Global Commercial Avionics Systems Market Size and Growth
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26. South America Commercial Avionics Systems Market
27. Brazil Commercial Avionics Systems Market
28. Middle East Commercial Avionics Systems Market
29. Africa Commercial Avionics Systems Market
30. Commercial Avionics Systems Market Competitive Landscape And Company Profiles
Top Major Players:
- General Electric Company
- Raytheon Technologies Corporation
- The Boeing Company
- Panasonic Corporation
- Northrop Grumman Corporation
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