The global commercial avionic system market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). Electronic systems associated with flight are termed as ‘avionics’ that covers the internal sensors and control systems within an aircraft; from airborne communication and navigation systems to ‘stealth’ aircraft design and flight control systems. The growing advancements in the aviation industry is the primary factor driving the global market growth. Adding to this, the regulatory requisites demanding the retrofitting of the avionics are also adding to the market growth. For instance, as per the Federal Aviation Administration (FAA), any airspace that requires the use of a transponder was mandated to be equipped with a Version 2 ADS-B Out system before January 1st, 2020, which has resulted in several airlines retrofitting their avionics to comply with the new regulations. ADS-B upgrades are also mandated in Europe, with an extended deadline of January 2023. The retrofitting of avionic systems is particularly growing in North America and Europe owing to such ongoing regulatory mandates.
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Other major factors that include the emergence of advanced avionics systems for Nextgen aircraft, growth in emerging economies, rising number of aircraft orders, coupled with the demand for real-time data are anticipated to propel the growth of commercial avionics systems market. However, the regulatory framework and vulnerability to cyberattacks are the possible hindrances to the growth of the global commercial avionic system market. Some key players operating in the market include Honeywell International Inc., Thales Group, and Safran SA, among others.
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Market Coverage
- Segment Covered-
o By Application
o By Deployment Model
o By End-User
- Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape: Honeywell International Inc., Thales Group, and Safran SA, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Commercial Avionic System Market Report by Segment
By Sub-System
- Flight Management and Control Systems
- Health Monitoring Systems
- Electrical & Emergency Systems
- Communication
- Navigation and Surveillance Systems
By Aircraft Type
- Narrow-Body Aircraft
- Wide-Body Aircraft
- Regional Aircraft
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