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Aerospace Avionics Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027

Format: PDF | Pages: 300 | Report ID: MRS1089


Report Description

The global aerospace avionics market size is estimated at USD 71,362.8 Million in 2020, expanding at a CAGR 6.4% from 2021-2027 to reach 80,00.6 Million USD in 2027.

The primary factors, driving the worldwide aerospace avionics market growth, are the robust presence of key players and continuous innovations, rigorous investments, and strategic steps taken by these players functioning in the industry.

Market Dynamics

The aerospace avionics market is expected to witness prominent growth over the forecast period. The increase in demand for commercial aviation for passenger travel and the recent development in aerospace avionics by key industry players are the factors expected to drive the aerospace avionics market share and size in the predicted timeframe. Besides, the growing demand for military and commercial aircraft and a gradual increase in the number of passengers in developing countries across the globe are predicted to provide lucrative opportunities for the aerospace avionics market growth. The rise in per capita income in emerging countries such as India, Brazil, China, Russia, India, and South Africa might increase the number of air passengers. However, the high initial investment required in the aerospace avionics industry may hamper the aerospace avionics market growth in the near future.

Regional Overview

North America has accounted for the highest share in the aerospace avionics market in 2020 owing to the increased emphasis on the incorporation of modernization measures thereby instituting the growth of the aircraft fleet in locations like the USA and Canada. The prime focus has been on the increased adoption of air traffic management systems in continents like North America, where advanced improvement in technological measures and avionics solution adoption has been instrumental due to the improved acceptance of aerospace solutions in the North American market. Moreover, the presence of well-established infrastructure in the military and commercial aviation combined with the strong emphasis on the R&D of aerospace avionics in the military systems and civil aviation is projected to drive the regional market growth by 2027.

Segment Overview

The global aerospace avionics market is fragmented into various segments based on systems, applications, and distribution channels. Based on systems, the market is classified into flight control systems, navigation systems, communication systems, monitoring systems, and others. Among these, the flight control systems segment is predicted to hold the largest market share by 2027. Based on application, the market is divided into military aviation, commercial aviation, and business jets & general aviation. Among these, the commercial aviation segment is predicted to witness the fastest growth in the estimated timeframe. Based on the distribution channel, the market is bifurcated into original equipment manufacturer (OEM) and aftermarket. Among these, the OEM segment is expected to dominate in terms of market share by 2027.

Competitive Landscape

The competitive landscape of the market is shaped by the new market trends initiated by the market structure includes modernizations in the field of avionics and aircraft management systems. Major US flight operation systems launched a new defense assistance program that emphasized developing flight management systems, open-system flight architecture and flexible integration of in-flight management systems and thereby initiating the processes associated with the aerospace vehicle needs. The aforementioned programs have been instrumental in the growth of this market in the international sphere.

The aerospace avionics market is highly competitive owing to the presence of international as well as local players. Major players in the industry are engaging in various strategies, such as merger & acquisition, technological advancements, novel product launches, and partnerships to hold strong in the market.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):

  • Cobham Plc.
  • Honeywell
  • Thales Group
  • L3 Harris Corporation
  • Raytheon Airbus S.A.S.
  • Safran S.A.
  • Boeing
  • BAE Systems
  • Northrop Grumman
  • Saab AB
  • Leonardo S.P.A.
  • Elbit Systems Ltd.
  • General Dynamics Corporation
  • General Electric
  • Airbus

Systems Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Flight Control System
  • Monitoring System
  • Communication System
  • Navigation System
  • Others

Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Military Aviation
  • Commercial Aviation
  • Business Jets & General Aviation

Distribution Channel Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Aftermarket
  • OEM

Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain, etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • South America (Brazil, Mexico, Argentina, etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)

Frequently Asked Questions

The global aerospace avionics market size is estimated at USD 71,362.8 Million in 2020, expanding at a CAGR 6.4% from 2021-2027 to reach 80,00.6 Million USD in 2027.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global aerospace avionics market size is expanding at a CAGR 6.4% from 2021-2027 to reach 80,00.6 Million USD in 2027.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
The competitive landscape of the market is shaped by the new market trends initiated by the market structure includes modernizations in the field of avionics and aircraft management systems. Major US flight operation systems launched a new defense assistance program that emphasized developing flight management systems, open-system flight architecture and flexible integration of in-flight management systems and thereby initiating the processes associated with the aerospace vehicle needs. The aforementioned programs have been instrumental in the growth of this market in the international sphere.

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