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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Avionics Market Growth
Hardware components of an aircraft, such as flight management systems and communication systems, are extremely crucial for safe and smooth flying. Flight management systems bolster the operational harmony between the integral elements of the aircraft linked with a flight from take-off to landing. A flight management system pre-programs the travel route of an aircraft which makes the journey accurate and timely.
Avionics demand forecasts the incorporation of flight management systems in commercial and military aircraft.
Avionics Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global market attained a value of nearly USD 76.74 billion.
The market is estimated to grow at a CAGR of 4.50% between 2024 and 2032.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The major drivers of the market include the rising expenditure in commercial aviation, increasing incorporation of aircrafts in the military sector, and growing expansion of the aircraft aftermarket.
Technological advancements in the military and defence industry are likely to be the key trends in the market.
The market is categorised according to the end use, which includes OEM and Aftermarket.
Based on the system, the market is divided into hardware and software.
Based on the platform, the market is divided into commercial aviation, business jets and general aviation, military aviation, and helicopters.
The market key players are BAE Systems plc, CCX Technologies, Safran Group, Curtiss-Wright Corporation, and Garmin Ltd, among others.
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