Avionics are the electronic systems that are usually installed in aircrafts, artificial satellites, and spacecraft. These electronics systems include communication, control, monitoring, navigation, display, and a number of other systems that are required for operating an aircraft. With the new developments and innovations in technology, the demand for modern avionics has increased. Moreover, there has been a rise in order and deliveries of aircrafts since past few years, thereby giving a boost to the overall market growth.
Drivers, Restraints, and Opportunities
The growth of commercial avionics systems market is majorly driven and influenced by the following factors:
- Increased number of orders and deliveries of aircrafts
- Emerging economies
- Growing need for real-time data
- Growing popularity of integrated modular avionics
- Rising implementation of modern avionics systems for next-generation aircrafts
However, vulnerability of avionics systems to cyber-attacks and framework regulatory issues are a couple of factors that many act as hindrance to the growth of this market.
Market Predictions
The global commercial avionics systems market which was worth USD 16.73 Billion in 2015 is projected to reach USD 22.49 Billion by the end of 2020, growing at a CAGR of 6.10% from during the forecast period. Although North America held the largest share of the market in 2015, the market in Asia-Pacific is estimated to grow at the highest CAGR between 2015 and 2020, owing to the advanced avionics systems, which offers fuel efficiency and lessens airspace congestion.
Among sub-system, the flight control system is expected to grow at the highest CAGR, whereas on the basis of platform, the fixed-wing segment held the major share of the market. The market for narrow body aircraft segment under the segment of platform is expected to grow at a high CAGR.
Some of the prominent players competing in the global market for commercial avionics systems include Honeywell International Inc. (U.S.), Thales Group (France), Rockwell Collins (U.S.), United Technologies Corporation (U.S.), and GE Aviation (U.S.). Other players participating in this market comprise Teledyne Technologies, Inc. (U.S.), Garmin Ltd. (Switzerland), Panasonic Avionics Corporation (Japan), L-3 Communications Holdings Inc. (U.S.), Universal Avionics Corporation (U.S.), and Meggitt PLC (France), among others.
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Scope of the Research
The forecast for the global market for commercial avionics systems has been done by breaking it into the following segments and sub-segments:
- Sub-System: Flight Management Systems, Flight Control Systems, Health Monitoring Systems, Navigation, Communication & Surveillance Systems, Electrical and Emergency Systems
- Platform: Fixed-wing Aircraft, Narrow Body Aircraft, Wide Body Aircraft, Very Large Aircraft, Regional Aircraft, Rotary-wing Aircraft
- Fit: Forward-fit, Retrofit
- Geography: North America, Europe, Asia-Pacific, RoW
