Market Overview
The Global Aircraft Avionics Market is expected to grow at a CAGR of 4.7% during the forecast period (2024-2031).
Aircraft avionics are the electronics systems including navigation, communications, management of multiple systems and displays, and hundreds of systems used in aircraft. Recently advanced technology adoption has created noticeable demand in aircraft industry areas, including information, instrumentation, and automation. The innovative techniques p to determine aircraft attitude, speed, altitude, cockpit information, aircraft position, traf and terrain, planned route surrounding we, and engine health and performance.
Market Summary
| Metrics | Details |
| Market CAGR | 4.7% |
| Segments Covered | By System, By Applications and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
The rising air travel passengers drive the market due to increased disposable income and a surge in international tourism across the globe. According to World Air Transport Statistics in 2were around 4 billion origin-destination (O-D) passenger journeys registered with the number of passengers increased by 1% as compared to 2017., aircraft craft avionics like communication systems, in-flight entertainment devices, and cockpit systems will propel a surge in air travel across the globe.
There is a rise in the digital technology adoption for in-flight entertainment, management, and controlling air traffic using advanced innovative technology like in-flight map platforms and entertainment displays. For instance, on 2nd April 2019, Panasonic Avionics Company launched Arc, a revolutionary 3D In-flight Map platform. This platform will help connect its service for its NEXT and X Series in-flight entertainment and connectivity (IFEC) systems across all flights, including overhead, in-flight displays, handset, seatback, mobile apps, and web portals.
Market Segment Analysis
The global aircraft avionics market is segmented based on system, applications, and region.
In terms of fats type, the global aircraft avionics market is bifurcated into the flight management system, communication system, electric & navigation system, surveillance system, emergency and collision avoidance system, weather system, health monitoring system, tactical system, and in-flight entertain the communication system segment has the highest market share in due owing to the increasing launching of advanced technology for communications. For instance, on 10th Oct 2017, the Company Astronics Ballard Technology launched an innovative aircraft communications server. This is the compact web CSS first highly-integrated smart AID, server, and router that connects avionics data with wired and wireless networks in a single compact box.
Similarly, flight management systems, electric & navigation system, surveillance system, emergency, collision avoidance systems, weather systems, health monitoring systems, tactical systems, and in-flight entertainment segments are also growing faster due to raising the global aerospace demand all over the world. According to the FAA Airport Data, in 2017, the United States registered more than 220,000 civil aircraft for general aviation aircraft. This been propelled the demand for its avionics systems like flight management system, electric & navigation system, surveillance system, emerge and collision avoidance system, weather system, health monitoring system, tactical system, and in-flight entertainment segments.
Depending on the applications, the global aircraft avionics market is divided into commercial aviation, military aviation, business jet & general aviation, and helicopters.
Among these, the commercial aviation segment had the highest share in 2019. This is primarily due to rising international passengers, which has generated millions of jobs ultimately huge revenue. According to the Federal Aviation Administration (FAA) Analysis report in 2017, general aviation in the United States has been generated USD 39 Billion in revenue for the economy. It has been employed over 7.6 million people.
Similarly, military aviation, business jet & general aviation, and helicopter segments are also growing faster due to rising international passengers worldwide. According to the International Air Transport Association (IATA), in 2019, the global passenger numbers have been increased by 4% to around 4.54 billion. This propels the segmental growth for the aircraft avionics market.
Market Geographical Share
By region, the global Aircraft avionics market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America is the dominant region for the global aircraft avionics market. It is expected to grow at the highest CAGR during the forecasted period due to the presence of leading players with the sale of aircraft, followed by the European region. According to the 2018 Federal Aviation Administration (FAA), in 2019, the number of aircraft deliveries in the United States increased to 1771 aircraft increased by 1.4%, and worldwide deliveries increased to 2,658 aircraft up by 8.9%. This propels the demand for the electronics avionics market during the forecast period.
The Asia Pacific is also growing faster for the aircraft avionics market, owing to rising consumer spending with a surge in international and domestic traveling of people in this region. According to the International Air Transport Association (IATA), in 2019, the number of international passenger trips in China and India is 50 million and 30 million. The domestic traveler number of China and India in 2019 was around 515 and 116 million, respectively. This has been propelled the demand for commercial aircraft and ultimately boost the aircraft avionics market.
Companies and Competitive Analysis
The global Aircraft avionics market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. Rolls Royce, Teledyne Technologies Inc, Avidyne Corporation, Garmin Ltd., Saab AB, Boeing, CobhamCurtiss-Wright, Elbit Systems, Universal Avionics System Corporation, Zodiac Aerospace, and Panasonic Avionics Corporation are the leading market players with significant market share.
Companies are entering into collaborations, acquisitions, mergers, and licensing for increasing their market penetration. For instance, on 5th July 2019, Panasonic Avionics has been agreed on supplying the in-flight entertainment and connectivity (IFEC) systems, A321neo IFE, and Connectivity devices to the TAP Air Portugal leading company. This deal was made to provide a suite of connectivity services inflight entertainment and connectivity (IFEC) solutions for the carrier’s new fleet of 14 A321neo LR aircraft series. Furthermore, on 5th December 2019, Panasonic Avionics collaborated with Eutelsat Company to provide XTS In-flight Connectivity Across Europe and the Middle East region. To provide multiple gigahertz of new extreme throughput (XTS1) Ku-band connectivity to airlines and their passengers from Europe, Africa, and the Middle East region.
