This report provides an analysis of the avionics market for the next five years. It covers industry and technology trends currently prevailing in the avionics market. It analyzes factors that drive and restrain the growth of the avionics market as well as the challenges currently prevailing in the market. The avionics market is projected to grow from USD 62.22 billion in 2016 to USD 92.85 billion by 2022, at a CAGR of 6.90% from 2016 to 2022. One of the key drivers for the growth of the avionics market is the growth in the general aviation avionics retrofit activities.
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Among subsystems, the flight control & management system segment of the avionics market is projected to grow at the highest CAGR during the forecast period. This growth is mainly attributed to the increased demand for sophisticated and advanced avionics components in the avionics market.
Browse 59 market data tables and 76 figures spread through 167 pages and in-depth TOC on “Avionics Market”
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Based on fit, the retrofit segment is estimated to lead the avionics market, which is also projected to grow at the highest CAGR during the forecast period. The high growth in avionics retrofit activities can be attributed to the new mandates for Automatic Dependent Surveillance Broadcast (ADS-B) and Enhanced Vision System (EVS).
Based on platform, the UAV segment of the avionics market is projected to grow at the highest CAGR during the forecast period. Key factors fueling the growth of the UAV avionics market include increasing demand for UAVs for commercial applications, advancements in technologies of drone payloads, and increasing defense budgets of emerging economies.
Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Countries in this region include China, India, Japan, and Rest of Asia-Pacific. High air passenger traffic leading to the increase in the number of aircraft deliverers is expected to boost the avionics market in Asia-Pacific.
Honeywell International Inc. (U.S.), United Technologies Corporation (U.S.), Thales Group (France), Rockwell Collins, Inc. (U.S.), Thales Group (France), and Cobham Plc (U.K.) are expected to be the leading players in the avionics market during the forecast period.
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