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The global commercial avionics systems market was valued at US$ 28.1 Billion in 2021.
We expect the global commercial avionics systems market to exhibit a CAGR of 4.20% during 2022-2027.
Continuous advancements in the aviation sector, along with the growing utilization of commercial avionics systems to enhance the safety of crew members and passengers, are primarily driving the global commercial avionics systems market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in numerous aviation activities, thereby limiting the demand for commercial avionics systems.
Based on the sub system, the global commercial avionics systems market has been segmented into health monitoring systems, flight management and control systems, communication and navigation, cockpit systems, visualizations and display systems, and others. Among these, communication and navigation sub system represents the largest market share.
Based on the aircraft type, the global commercial avionics systems market can be bifurcated into narrow-body aircraft, wide-body aircraft, regional aircraft, and others. Currently, narrow-body aircraft accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where Asia-Pacific currently dominates the global market.
Some of the major players in the global commercial avionics systems market include Cobham Limited, Garmin Ltd., General Electric Company, Honeywell International Inc., L3Harris Technologies Inc., Panasonic Corporation, Raytheon Technologies Corporation, Safran SA, Teledyne Technologies Inc., Thales Group, and Universal Avionics Systems Corporation (Elbit Systems Ltd.).
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