Global Military Aircraft Avionics Market to Reach US$ 50.7 Billion by 2032, Impelled by Changing Global Security Scenarios

April 28, 2023 | Aerospace and Defense

According to the latest report by IMARC Group, titled "Military Aircraft Avionics Market Report by System Type (Flight Control System, Communication System, Navigation System, Monitoring System, and Others), Aircraft Type (Combat Aircraft, Helicopters, Unmanned Aerial Vehicles (UAVs), Transport Aircraft), End Use Sector (OEM, Aftermarket), and Region 2024-2032," the global military aircraft avionics market size reached US$ 36.6 Billion in 2023. Military aircraft avionics include numerous types of electronic systems that are generally equipped on military aircraft to provide navigation, communication, and mission support. They comprise several advanced computerized control systems, radar, communications equipment, navigation instruments, and weapons systems. They are crucial components that aid the successful execution of mission objectives and the safety of the aircraft and its crew. Additionally, they enable pilots to determine their precise location, altitude and heading, which is essential for successful mission execution. These systems also provide information about other aircraft and potential threats in the surrounding airspace. As a result, they are gaining traction across the globe as they help in maintaining air superiority and ensuring the effective execution of military operations.

Global Military Aircraft Avionics Market Trends:

The global market is primarily driven by significant growth in the defense sector. Coupled with the growing investments to upgrade the overall defense infrastructure is creating a positive market outlook. Along with this, continual technological advancements that help in enhancing the capabilities of aircraft avionics systems. For instance, the integration of advanced communication and navigation technologies, such as satellite communication and GPS systems with military aircraft avionics to increase the efficiency and effectiveness of military aircraft operations are acting as growth-inducing factors. The changing global security scenarios are driving the demand for military aircraft avionics as a result of the evolving nature of military threats and the escalating need for advanced surveillance and reconnaissance capabilities. Additionally, the growing need for real-time situational awareness and decision-making in combat scenarios is propelling the market for more advanced and sophisticated avionics systems. Moreover, the increasing adoption of unmanned aerial vehicles (UAVs) is significantly supporting the military aircraft avionics market as they are vital components of military operations due to their ability to provide real-time intelligence, surveillance, and reconnaissance capabilities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 50.7 Billion by 2032, exhibiting a CAGR of 3.6% during 2024-2032.

Market Summary:

On the basis of the system type, the market has been categorized into flight control, communication, navigation, monitoring and other systems.
Based on the aircraft type, the market has been segmented into combat aircraft, helicopters, unmanned aerial vehicles (UAVs) and transport aircraft.
On the basis of the end use sector, the market has been bifurcated into OEM and aftermarket.
Based on the region, 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, United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include BAE Systems Plc, Cobham, Curtiss-Wright Corporation, Elbit Systems Ltd., GE Aviation Co., Honeywell International Inc., L3Harris Technologies Inc., Lockheed Martin Corporation, Moog Inc., Raytheon Technologies Corporation and Thales Group.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	System Type, Aircraft Type, End Use Sector, 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	BAE Systems Plc, Cobham, Curtiss-Wright Corporation, Elbit Systems Ltd., GE Aviation Co., Honeywell International Inc., L3Harris Technologies Inc., Lockheed Martin Corporation, Moog Inc., Raytheon Technologies Corporation and Thales Group
Customization Scope	10% Free Customization
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Global Military Aircraft Avionics Market to Reach US$ 50.7 Billion by 2032, Impelled by Changing Global Security Scenarios

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