According to the report by Expert Market Research (EMR), the Global Avionics Market Share is projected to grow at a CAGR of 4.50% between 2023 and 2028. Aided by the growing demand for advanced flight systems and the expanding applications of avionics in various segments of the aerospace industry, the market is expected to grow significantly by 2028.
Avionics, a portmanteau of aviation and electronics, refers to the electronic systems used on aircraft, artificial satellites, and spacecraft. These systems are integral to the efficient and safe operation of these vessels, playing key roles in functions like communication, navigation, and monitoring. They encompass a broad range of systems, including flight control systems, navigation systems, display systems, and management systems.
The increasing demand for advanced flight systems is a primary factor driving the global avionics market growth. The demand for more advanced avionic systems has increased in line with the aerospace industry’s steady expansion and technical advancements. Critical capabilities offered by these systems include precise navigation and guidance, real-time data for effective flight operations, and improved safety measures.
The global avionics market is also driven by the rise of unmanned aerial vehicles (UAVs), also known as drones. The need for cutting-edge avionic systems to guarantee these devices operate safely and effectively has increased dramatically as they become more widely used for both commercial and military purposes.
The expanding applications of avionics in various sectors of the aerospace industry also contribute to the avionics market development. For example, avionics are increasingly being used in space exploration missions, where they play crucial roles in communication, navigation, and scientific data collection.
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Furthermore, the modernisation of air traffic management systems is driving a need for updated avionics. As air traffic continues to grow, there’s an increased need for more efficient and reliable systems to manage this traffic. Avionic systems, particularly those involved in communication and navigation, play a key role in meeting these needs. In addition, the advent of electric and hybrid aircraft, which rely heavily on advanced avionic systems for efficient operation, provides a further boost to the avionics market expansion.
Market Segmentation
The market can be divided based on end use, system, platform, and region.
Market Breakup by End Use
- OEM
- Aftermarket
Market Breakup by System
- Hardware
- Flight Management Systems
- Communication Systems
- Navigation Systems
- Surveillance Systems
- Electrical Systems
- Emergency Systems
- Mission and Tactical Systems
- Inflight Entertainment Systems
- Health Monitoring Systems
- Collision Avoidance Systems
- Weather Systems
- Software
- Safety-Critical Airborne Software
- Mission Flight Management Software
- Flight Management Software
- Aircraft Health Diagnostic Software
- Training and Simulation Software
- Others
Market Breakup by Platform
- Commercial Aviation
- Military Aviation
- Business Jets and General Aviation
- Helicopters
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global avionics companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- BAE Systems plc
- CCX Technologies
- Safran Group
- Curtiss-Wright Corporation
- Garmin Ltd
- Others
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