Aerospace Avionics Market 2024-2033: Technological Advancements, Competitive Landscape and Strategies

The aerospace avionics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Aerospace Avionics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

The aerospace avionics market size has grown steadily in recent years. It will grow from <b>$79.41 billion in 2023 to $83.06 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. </b> The growth in the historic period can be attributed to evolution of aircraft, military sector demand, transition to digital cockpits, safety enhancements, surveillance and air traffic control.

The aerospace avionics market size is expected to see steady growth in the next few years. It will grow to <b>$99.9 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. </b> The growth in the forecast period can be attributed to emerging market expansion, electrical aircraft systems, defense sector growth, modernization of legacy aircraft, artificial intelligence integration. Major trends in the forecast period include advanced flight management systems, rising demand for next-generation aircraft, autonomous systems and uavs, digital cockpit innovations, communication and connectivity.

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Scope Of Aerospace Avionics Market

The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Aerospace Avionics Market Overview

Market Drivers –

Rising demand for air travel is expected to propel the aerospace avionics market going forward. Air travel refers to a type of travel that involves air vehicles like airplanes, jets, and helicopters. It includes both local and foreign passengers carried by airlines with national registrations. An increase in air travel across the globe creates the demand for aerospace avionics. For instance, in June 2022, the International Air Transport Association, a trade association of the world’s airlines, reported that international air traffic increased by 229.5% in 2022 compared to 2021. Therefore, the rising demand for air travel is driving the aerospace avionics market.

Market Trends –

Product innovations are a key trend gaining popularity in the aerospace avionics market. Major companies operating in the aerospace avionics market are focused on developing innovative products to strengthen their position. For instance, in March 2022, Flightcell International, Ltd., a New Zealand-based leader in airborne communications operating in aerospace avionics launched the cockpit recording solution “”SmartHUB.”” The unique features it offers are HD (high definition) video and audio, an access point for USB (universal serial bus) and IP (internet protocol) devices, and a flight data recorder. The system is expected to monitor different parameters like GPS (global positioning system) position data, pressure, altitude, turn rate, altitude, speed, g-force, and roll.

The aerospace avionics market covered in this report is segmented –

1) By Systems: Flight Control System, Communication System, Navigation System, Monitoring System, Others Systems
2) By Application: Commercial Aviation, Military Aviation, Business Jets And General Aviation
3) By Distribution Channel: OEM, Aftermarket

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Regional Insights –

North America was the largest region in the aerospace avionics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aerospace avionics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –

Major companies operating in the aerospace avionics market report are Thales Group, L3Harris Technologies Inc., Airbus SAS, Boeing Co., BAE Systems Inc., Northrop Grumman Corporation, Saab AB, Leonardo S.p.A., Elbit Systems Ltd., General Dynamics Corporation, General Electric Company, Cobham plc, Honeywell International Inc., Raytheon Technologies, Safran S.A., Lockheed Martin Corporation, RTX Corporation, Garmin Ltd., Harris Corporation, Meggitt plc, Advent International Corp., Curtiss-Wright Corporation, Teledyne Technologies Incorporated, Moog Inc., Astronics Corporation, TransDigm Group Incorporated, Kratos Defense & Security Solutions Inc., Universal Weather and Aviation Inc., Avidyne Corporation, FreeFlight Systems, Becker Avionics International Group, Flight Data Systems Pty. Ltd., Innovative Solutions & Support Inc.

Table of Contents
1. Executive Summary
2. Aerospace Avionics Market characterstics
3. Aerospace Avionics Market Trends And Strategies
4. Aerospace Avionics Market – Macro Economic Scenario
5. Global Aerospace Avionics Market Size And Growth
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31. Global Aerospace Avionics Market Competitive Benchmarking
32. Global Aerospace Avionics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Aerospace Avionics Market
34. Aerospace Avionics Market Future Outlook and Potential Analysis
35. Appendix

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