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How Has The Commercial Aircraft Nextgen Avionics Market Performed, And What Are Its Future Projections?
The commercial aircraft nextgen avionics market has witnessed substantial growth in recent years. The market was valued at $3.39 billion in 2024 and is expected to reach $3.79 billion in 2025, representing a compound annual growth rate (CAGR) of 11.8%. Factors such as an increase in air traffic, increased travel and tourism, population growth, a rise in disposable income, and development in the aviation industry contributed to this growth.
The future projections for the commercial aircraft nextgen avionics market are promising. The market is expected to reach $5.81 billion by 2029, growing at a CAGR of 11.3%. This growth is expected to be driven by emerging market demand, fuel-efficient airframe designs, sustainable aviation materials, entry of new market players, and the growing need for commercial aircrafts. Significant trends in the forecast period include digital cockpit modernization, advancements in connectivity and communication, autonomous flight technologies, AI and machine learning, and advancements in human-machine interface.
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What Is Propelling The Growth Of The Commercial Aircraft NextGen Avionics Market?
The commercial aircraft NextGen avionics market growth is driven by an increase in air passenger traffic. Both local and foreign passenger traffics, carried by airlines with national registrations, have seen a hike. The need to manage this increased air traffic effectively has created a growing demand for commercial aircraft NextGen avionics, which proactively identifies and resolves weather and other hazards. According to a report by the International Civil Aviation Organization (ICAO), between January and April 2022, global air travellers increased by 65% compared to the same period in 2021, and there were 30% more aircraft departures, driving the commercial aircraft NextGen avionics market growth.
What Are The Key Segments Of The Commercial Aircraft Nextgen Avionics Market?
1) By Systems: Flight Management System, Communication System, Electric and Navigation System, Surveillance and Emergency System, Collision Avoidance System, Weather System, Others Systems
2) By Installation Stage: Forward Fit, Retrofit
3) By End User: Regional, Narrow Body, Wide Body
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Who Are The Major Players In The Commercial Aircraft Nextgen Avionics Market?
Key companies operating in the market include Cobham Limited, Curtiss-Wright Corp., General Electric Company, Honeywell International Inc., L3Harris Technologies Inc., Raytheon Technologies Corporation, Safran S.A, Teledyne Technologies Incorporated, Thales Group, Elbit Systems of America LLC, and others.
What Are The Emerging Trends In The Commercial Aircraft Nextgen Avionics Market?
Technological advancements are a key emerging trend in the market. Major players are exploiting new technologies to maintain their market positions. The electric CityAirbus NextGen is an urban air mobility vehicle designed for zero-emission, quiet, and efficient urban flights, featuring advanced electric propulsion technology for sustainable city transportation. In March 2024, Airbus SE launched its full electric CityAirbus NextGen prototype to the public. This marked a crucial step in Airbus SE’s efforts to revolutionize urban air mobility with sustainable, zero-emission transportation solutions.
Which Region Is Predicted To Grow The Fastest In The Commercial Aircraft Nextgen Avionics Market?
Asia-Pacific was the biggest region in the commercial aircraft nextgen avionics market in 2024. Meanwhile, North America is expected to be the fastest-growing region in the forecast period. The commercial aircraft nextgen avionics market report includes data on regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Commercial Aircraft Nextgen Avionics Market Report 2025 Offer?
Commercial aircraft nextgen avionics refers to an interconnected system of technology and equipment that drastically transform aviation surveillance, navigation, and communication practices. It enhances safety, reduces flight times, and lowers emissions by integrating various modern technologies. The main objective of commercial aircraft next-generation avionics is to assist pilots in navigating efficiently. The Commercial Aircraft Nextgen Avionics Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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