Aerospace Avionics Market Size to surpass $94bn by 2025
Published Date: October 1, 2019 Authors: Ankita Bhutani, Preeti Wadhwani
Aerospace Avionics Market size is set to surpass USD 94 billion by 2025; according to a new research report by Global Market Insights, Inc.
Aerospace avionics is a combination of different systems that helps in managing various aircraft operations in-flight and on-ground. Avionics is the most crucial component of all aircraft systems as it helps in receiving information from all the other systems and provides operational information to the pilot on board. With the introduction of motion planning, neural sensing, and satellite-based communication networks, the demand for more advanced avionics system has increased.
The growing tourism industry in Asia Pacific is supporting the growth of commercial aviation. The rise in passenger traffic and improvement in the global economy will drive the growth of the aerospace avionics market over the study timeframe. The growth of the market is driven by the increasing air traffic in Asia Pacific. The passenger traffic is expected to increase by 4.7% annually according to IATA. For instance, according to the Boeing outlook 2019 to 2038, Asia Pacific is expected to have aircraft deliveries of more than 17,000 to cater to passenger growth.
Rising low cost carriers across globe supporting the growth of passenger traffic
Federal Aviation Administration (FAA) of the U.S. oversees the regulations of usage and application of aircraft avionics across the region. The regulatory body has put forward certain rules and regulations for the installation and operation of avionics for new aircraft as well as the aftermarket. The authorities are focused on providing customers with improved avionics systems for smooth and safe aircraft operations. The increasing passenger traffic and cargo movements for regions, such as the Middle East and Asia Pacific, is creating the demand for new aircraft and increasing the demand for avionics systems. The growth of Low-Cost Carriers (LCC) has increased in the last decade with the introduction of new routes and cost-effective air travel services. To cater to this demand, the volume for narrow body aircraft has increased in the last decade and is expected to increase over the forecast timeframe.
Browse key industry insights spread across 320 pages with 335 market data tables & 33 figures & charts from the report, “Aerospace Avionics Market Size By System (Flight Management System, Communication System, Navigation System, Surveillance System, Electric System, Emergency System, Collision Avoidance System, Weather System, Health Monitoring System, Tactical System, In-Flight Entertainment), By Application (Commercial Aviation, Military Aviation, Business Jet & General Aviation, Helicopters), By End Use (OEM, Aftermarket), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Netherlands, China, India, Japan, Australia, South Korea, Brazil, Mexico, Chile, Colombia, Saudi Arabia, UAE, South Africa, Turkey), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Commercial aviation flight management computers are expected to cross 4,000 units by 2025
The flight management system is expected to witness significant gains over the forecast period with the rise in new aircraft deliveries. This system is a multipurpose aircraft computer used for providing various operational and virtual data between open and closed elements of flight. The system collects information for navigation, surveillance, and communication system and helps in streamlining operations of the aircraft. Major manufacturers are focusing on developing the next-generation flight management system to facilitate advancement in the air traffic management system. For instance, in August 2015, Thales designed a new generation flight management system that provides flexibility to operators & pilots and enhances the efficiency of aircraft and safety of customers.
The business jet & general aviation segment is expected to have substantial growth during the forecast period, registering a growth of over 4% by 2025. The demand is fueled by increasing charter companies and growth of air taxi. According to the world wealth report 2018, the number of ultra-wealthy individuals (net worth more than USD 50 million) will increase by 43% by 2022 and the number of demi-wealthy individuals (net worth more than USD 500 million) will increase by 39% by 2022, fueling demand of aerospace avionics market during the forecast period.
The OEM is expected to witness significant growth over the forecast period with the rise in the number of orders from airline service providers and charter companies. The increasing low-cost carriers in countries including China and India are expected to enhance the new aircraft demand. For instance, in August 2019, Air China awarded a contract to the Chinese manufacturer COMAC to provide 35 ARJ21-700 aircraft. The contract signed was worth USD 1.33 billion and is expected to deliver the first aircraft by 2020.
China and India lead the aerospace avionics in Asia Pacific
North America dominates the aerospace avionics market size due to the increasing number of new aircraft deliveries and presence of major avionics and aircraft manufacturers supporting the demand for the market in this region. For instance, in May 2019, Boeing announced agreements with Jet Aviation and HK Bellawings Jet for deliveries of Jeppesen Operator and Jeppesen JetPlanner Pro digital solutions. This avionics system will enhance efficiency, safety, and conveyance of operators.
The Asia Pacific aerospace avionics market will witness a growth of over 4% during the study timeframe due to the increase in tourism and growing electronics industry in the region. The demand from regions including India and China is supporting the growth of the market.
The aerospace avionics industry is consolidated with the presence of major industry participants including Raytheon, Harris Corporation, Thales Group, Saab AB, and Northrop Grumman Corporation, strengthening their R&D capabilities for developing innovative solutions incorporating advanced technologies. For instance, in August 2019, Thales Group launched FlytX, a cockpit system comprising touchscreen dashboard, eliminating dials and buttons. This new cockpit system will completely digitize pilots’ experience by eliminating old systems.
The aerospace avionics market research report includes in-depth coverage of the industry with estimates & forecast in terms of shipments in units and revenue in USD million from 2014 to 2025, for the following segments:
Aerospace Avionics Market, By System
- Flight Management System
- Communication System
- Navigation System
- Surveillance System
- Electric System
- Emergency System
- Collision Avoidance System
- Weather System
- Health Monitoring System
- Tactical System
- In-Flight Entertainment System
Aerospace Avionics Market, By Application
- Commercial Aviation
- Military Aviation
- Business Jet & General Aviation
Aerospace Avionics Market, By End-Use
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
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