Aerospace Avionics Market Update 2024 : Projected to Exhibit USD 111.6 Billion Revenue by 2032 , Claims AMR

The overall global aerospace avionics market analysis is determined to understand the profitable trends to gain a stronger foothold.

WILMINGTON, DE, UNITED STATES, December 12, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Aerospace Avionics Market, by Subsystem (Flight Management Systems, Flight Control Systems, Health Monitoring Systems, Electrical & Emergency Systems and Communication, Navigation, and Surveillance Systems), Platform (Military Aviation, Commercial Aviation, General Aviation, and Special Mission Aviation), Fit (Retrofit and Forward Fit), and End-Use (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2022–2032". the global aerospace avionics market size was valued at $48.74 billion in 2022, and is projected to reach $111.58 billion by 2032, registering a CAGR of 8.9% from 2023 to 2032.

(We are providing aerospace avionics industry report as per your research requirement, including the Latest Industry Insight's Evolution, Potential and Russia-Ukraine War Impact Analysis)

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭 - https://www.alliedmarketresearch.com/request-sample/A322323

Prime Determinants of Growth

The global aerospace avionics market is driven by factors such as rise in the production of aircraft, which fuels the demand for aerospace avionics. In addition, the market is influenced by surge in demand for communication subsystems. However, high initial costs are expected to hinder the market growth. Moreover, the enhanced connectivity solutions provide lucrative opportunities for market growth.

The communication, navigation, and surveillance systems segment to maintain its leadership status throughout the forecast period.

By subsystem, the communication, navigation, and surveillance systems segment held the highest market share in 2022, accounting for nearly one-third of the global aerospace avionics market revenue and is estimated to maintain its leadership status throughout the forecast period.

Increase in traffic densities, increase in need to utilize RF spectrum, and improved safety nets have elevated the demand for surveillance systems.

Key Developments/Strategies in the Aerospace Avionics Industry

January 2024 witnessed Universal Avionics (UA) and Trimec Aviation obtaining FAA Supplemental Type Certificate (STC) for the Falcon 2000/EX, featuring the InSight Flight Display System. This upgrade replaces legacy Pro Line 4 avionics with cutting-edge displays and synthetic vision, addressing obsolescence issues, improving operational efficiency, and enhancing safety.
United Airlines and Panasonic Avionics Corporation inked an agreement in June 2023 for Panasonic's Astrova in-flight engagement (IFE) solution, with United Airlines becoming its inaugural U.S. customer. Installation on new Boeing 787 and Airbus A321XLR aircraft is slated to commence in 2025, marking United Airlines' significant investment in Panasonic Avionics' IFE.
In July 2022, Universal Avionics Systems Corporation, a subsidiary of Elbit Systems Ltd., secured a $33 million contract from AerSale Corporation to provide Enhanced Flight Vision Systems (EFVS) for Boeing 737NG aircraft, to be executed through 2023.
Thales Group achieved a milestone in January 2022 with the successful test flight of its FlytX avionics suite, aimed at enhancing situational awareness and reducing pilot workload through features like a touch screen cockpit display, advanced weather radar, and synthetic vision technology.
Collins Aerospace announced a long-term agreement with Boeing in November 2021 to supply avionics systems for the Boeing 777X aircraft program, encompassing cockpit displays, communication, navigation systems, and other crucial avionics components.

𝐋𝐨𝐨𝐤𝐢𝐧𝐠 𝐟𝐨𝐫 𝐕𝐞𝐧𝐝𝐨𝐫 𝐒𝐨𝐮𝐫𝐜𝐢𝐧𝐠 𝐚𝐧𝐝 𝐒𝐮𝐩𝐩𝐥𝐢𝐞𝐫 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧, 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥/ 𝐂𝐨𝐮𝐧𝐭𝐫𝐲 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐒𝐭𝐮𝐝𝐲 - https://www.alliedmarketresearch.com/request-for-customization/A322323

The forward fit segment to maintain its leadership status throughout the forecast period

By fit, the forward fit segment held the highest market share in 2022, accounting for more than three-fifths of the global aerospace avionics market and is estimated to maintain its leadership status throughout the forecast period. However, the same segment is projected to manifest the highest CAGR of 9.42% from 2023 to 2032, owing to an increasing need for aircraft equipped with integrated and advanced avionic systems directly incorporated during manufacturing. Airlines are placing greater emphasis on efficiency, safety, and adherence to evolving industry regulations.

The commercial aviation segment to maintain its leadership status throughout the forecast period

By platform, the commercial aviation segment held the highest market share in 2022, accounting for more than half of the global aerospace avionics market and is estimated to maintain its leadership status throughout the forecast period. The development of ADS-B ground station and the integration of wide area multiliterate (WAM) capability are expected to boost the growth of the market. Similarly, the evolution of non-cooperative surveillance infrastructure and satellite-based solutions is opportunistic for the market.

The OEM segment to maintain its leadership status throughout the forecast period

By end-use, the OEM segment held the highest market share in 2022, accounting for more than two-thirds of the global aerospace avionics market and is estimated to maintain its leadership status throughout the forecast period. Growing demand for new aircraft and spacecraft, prompting OEMs to increase the production of avionics systems. Technological advancements are driving the integration of advanced avionics into contemporary aircraft, thereby enhancing the market shares of OEMs.

North America to maintain its dominance by 2032
By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global aerospace avionics market revenue and is projected to dominate the market during the forecast period. The thriving commercial aviation sector is where airlines consistently enhance their avionics systems to enhance safety and fuel efficiency. Technological advancements and research facilities in the U.S. are driving the advancement of avionics systems. Rigorous safety standards and a growing emphasis on aviation cybersecurity are prompting investments in avionics technology, thus driving the market.

Key Highlights of the Report
The aerospace avionics market analysis spans across more than 16 countries, offering a detailed breakdown of each country's value ($million) from 2022 to 2032.
This research integrates top-tier data, expert opinions, and thorough analysis, supplemented by significant independent perspectives. The research methodology is crafted to present a comprehensive view of the global market landscape, aiding stakeholders in making informed decisions to achieve ambitious growth objectives.
A meticulous review of over 3,700 product catalogs, annual reports, industry descriptions, and other comparable resources from prominent industry players was conducted to deepen understanding of the market dynamics.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐐𝐮𝐚𝐥𝐢𝐭𝐚𝐭𝐢𝐯𝐞 𝐚𝐧𝐝 𝐐𝐮𝐨𝐭𝐚𝐭𝐢𝐯𝐞 𝐃𝐚𝐭𝐚, 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) - https://www.alliedmarketresearch.com/aerospace-avionics-market/purchase-options

Leading Market Players: -
Raytheon Technologies Corporation
Honeywell International Inc.
L3 Harris Technologies
BAE Systems
Thales Group
Curtis Wright Corporation
Northrop Grumman
Safran SA
Leonardo S.P.A
Elbit Systems Ltd

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐚𝐧𝐝 𝐃𝐞𝐟𝐞𝐧𝐜𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐖𝐢𝐧𝐝𝐬𝐡𝐢𝐞𝐥𝐝 𝐖𝐢𝐩𝐞𝐫 𝐚𝐧𝐝 𝐖𝐚𝐬𝐡𝐞𝐫 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/aircraft-windshield-wiper-and-washer-system-market-A16031
𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐋𝐢𝐠𝐡𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/aircraft-lighting-market-A06273
𝐀𝐢𝐫𝐩𝐨𝐫𝐭 𝐒𝐭𝐚𝐧𝐝𝐬 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/airport-stands-equipment-market

David Correa
Allied Market Research
+ +1 800-792-5285
email us here
Visit us on social media:
Facebook
X