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Aerospace Avionics Market Trends

Report ID: GMI2372
Published Date: Sep 2023
Report Format: PDF

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Aerospace Avionics Market Trends

The rapid integration of Artificial Intelligence (AI) & Machine Learning (ML) technologies into avionics systems is enhancing the automation, predictive maintenance, and decision-making capabilities. The development of more efficient & compact avionics components such as electronically steered antennas is reducing weight and improving fuel efficiency. The proliferation of connectivity solutions is enabling real-time data sharing for better situational awareness and passenger experience. Sustainability is also a growing concern, with the major focus being on the use of eco-friendly avionics technologies to reduce emissions and lower the environmental impacts. These trends are collectively shifting the consumer focus toward smarter, more connected, and environmentally responsible avionics systems.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Aerospace avionics industry was worth USD 78.2 billion in 2022 and is estimated to expand at over 4% CAGR from 2023 to 2032 driven by the rising demand for air travel.

The commercial aviation segment is set to expand at more than 3% CAGR during 2023-2032 attributed to the rising demand for air travel and the rapid expansion of commercial airline fleets.

North America held more than 30% of the aerospace avionics market in 2022 and is likely to expand at robust growth rate through 2032 owing to the presence of major aerospace manufacturers, such as Boeing and Lockheed Martin.

Some of the top firms in the global aerospace avionics industry are Airbus, BAE Systems, Boeing, Cobham Plc., Elbit Systems Ltd., General Dynamics Corporation, General Electric, Honeywell, L3 Harris Corporation, Leonardo S.P.A., Northrop, Grumman, Raytheon Airbus S.A.S., and Saab AB