Global Commercial Avionics Systems Market to Reach US$ 41.7 Billion by 2032, Spurred by Significant Expansion of Aviation Industry

March 02, 2023 | Aerospace and Defense

The latest report by IMARC Group, titled “Commercial Avionics Systems Market Report by Sub System (Health Monitoring Systems, Flight Management and Control Systems, Communication and Navigation, Cockpit Systems, Visualizations and Display Systems, and Others), Aircraft Type (Narrow-body Aircraft, Wide-body Aircraft, Regional Aircraft, and Others), Fit (Linefit, Retrofit), and Region 2024-2032,” finds that the global commercial avionics systems market size reached US$ 30.6 Billion in 2023. Commercial avionics systems are electronic systems designed to be employed in the aviation sector. They consist of navigation and surveillance system, communications, lighting systems, flight recorders, weather radar, engine controls, electro-optic (EO/IR) systems, threat detection, fire safety systems, electronic flight bags (EFBs), fuel systems, and performance monitors, to carry out flight management tasks. In addition, they are reliable, durable, and help to monitor, navigate, control, and avoid collision with other aircraft, and communicate with air traffic control (ATC) towers. As a result, commercial avionics systems are widely utilized to improve the overall safety of crew and passengers across the globe.

Global Commercial Avionics Systems Market Trends:

The market is primarily driven by the significant expansion of the aviation industry due to the increasing air passenger traffic, growing population, and the escalating demand for new aircraft. In addition, the widespread adoption of retrofit solutions owing to their cost-effective, and efficient ways to upgrade aging aircraft fleets with advanced avionics systems is contributing to the market growth. Moreover, various technological advancements, such as the integration of the internet of things (IoT) in these systems and the introduction of advanced avionics systems to maintain and improve performance, represent another major growth-inducing factor. Besides this, the increasing application of commercial avionics systems in unmanned aerial vehicles (UAVs) is providing a positive thrust to the market growth. Additionally, the surging need for next-generation flight management systems (NGFMS), and the increasing use of cabin management systems (CMSs) to control and monitor cabin illumination, galley and lavatory controls, and cabin intercommunication devices are accelerating the product adoption rate. Furthermore, the growing popularity of travel packages, numerous product innovations, the improving safety and security of the aviation sector against hijacking and terrorist attacks, and mergers and acquisitions (M&A) among key players are some of the other factors creating a favourable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 41.7 Billion by 2032, exhibiting a CAGR of 3.4% during the forecast period (2024-2032).

Market Summary:

Based on the sub-system, the market has been categorized into health monitoring systems, flight management and control systems, communication and navigation, cockpit systems, visualizations and display systems, and others.
On the basis of the aircraft type, the market has been classified into narrow-body aircraft, wide-body aircraft, regional aircraft and others.
Based on the fit, the market has been segmented into linefit and retrofit.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the industry has also been examined, along with the profiles of the key players being 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.).

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Sub System, Aircraft Type, Fit, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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.).
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Commercial Avionics Systems Market to Reach US$ 41.7 Billion by 2032, Spurred by Significant Expansion of Aviation Industry

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