Global Avionics Market Share: An In-depth Analysis of Market Size, Growth, and Competitive Strategies To 2030
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Market Size – USD 44.50 Billion in 2021, Market Growth – at a CAGR of 8.2%, Market Trends – Increasing transition to integrated and advanced avionics systems
VANCOUVER, BRITISH COLUMBIA, CANADA, July 5, 2023/EINPresswire.com/ -- The avionics market size reached USD 44.50 Billion in 2021 and is expected to register a revenue CAGR of 8.2% during the forecast period, according to the latest analysis by Emergen Research. Increasing improvements in aircraft computing are a key factor driving the growth of the market. The integrated avionics are increasing airplane performance while also lowering the cost of the electronic control unit. The finished solution combines System-Wide Information Management (SWIM), next-generation network-enabled weather, Automated Dependent surveillance broadcast (ADS-B), and next-generation data communications. The integrated solution enhances the aircraft's capacity to control air traffic, communicate, and maintain situational awareness.
The avionics market is highly competitive, with several major players in the industry, including multinational corporations and specialized avionics manufacturers. These companies invest heavily in research and development to introduce new and improved avionics technologies that meet the evolving needs of the aviation industry.
In summary, the avionics market plays a crucial role in the aviation industry, providing the necessary electronic systems and equipment for safe and efficient aircraft operation. The market is driven by factors such as increasing aircraft demand, technological advancements, and the pursuit of improved safety and efficiency. With ongoing innovation and development, the avionics market is expected to continue growing and shaping the future of aviation.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Avionics market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
BAE Systems, Cobham, Garmin Ltd., Collins Aerospace, Meggitt PLC, Curtiss-Wright Corporation, General Electronic, UAVIONIX Corporation, CMC Electronics Inc., Dynon Avionics Inc.
Research Report on the Avionics Market Addresses the Following Key Questions:
Who are the dominant players of the Avionics market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Avionics market?
What are the key growth drivers and restraining factors of the Avionics market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Avionics market and its key segments?
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Some Key Highlights From the Report
The navigation segment is expected to register a significant revenue growth rate during the forecast period. Inertial navigation systems, magnetic field detectors, and distance-measuring equipment are only a few of the parts that make up a contemporary airplane navigation system. Larger airliners require far more complex equipment and an instrument landing system, whereas even tiny Visual Flight Rule (VFR) planes often have basic navigational aids. The fact that navigation is not merely for the air must also be emphasized. Aircraft on the ground also use information from the equipment and any other possible reference to navigate when taxiing from the runway to the gate after landing or during other ground activities.
The military segment is expected to register a substantial revenue growth rate over the forecast period. As the defense expenditures of military heavyweights like the U.S., China, and Russia increase, it is expected that demand for military aircraft would increase as well. This would encourage the avionics market's growth in the military aviation segment. New advancements in military aircraft, such as the usage of military technology, improved composite materials, and fifth-generation technology, are also having an impact on the military aviation sector. The avionics of fighter aircraft eliminates the need for a second crew member, such as a navigator, observer, etc., which reduces training costs.
The OEM segment is expected to register a moderate revenue growth rate over the forecast period. OEMs can gather enough dependability information as a stakeholder to modify maintenance plans, doing away with the need for needless maintenance labor. The increase in the business jet and military aircraft deliveries around the world is tied to the expansion. As a result of Research and Development (R&D) projects to produce technologically superior aircraft computer components, the market is expected to expand.
Market in North America is expected to register a considerable revenue growth rate. Due to the rise in demand for cutting-edge avionics systems for both military and commercial purposes, a sizable market expansion is projected. Technological advancements in military fighter jets necessitate highly specialized, specialized avionics, which will promote market expansion. The United States is expected to dominate the region as a result of expanding air travel, the importance of cargo, and rising domestic aircraft deliveries.
Market Segmentations of the Avionics Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Avionics market on the basis of product, application, and region:
Segments Covered in this report are:
System Outlook (Revenue, USD Billion; 2019–2030)
Power & Data Management
Communication
Navigation
Flight Management
Weather Detection
Electronic Flight Display
Platform Outlook (Revenue, USD Billion; 2019–2030)
Business Jets
Commercial
General Aviation
Military
End-Use Outlook (Revenue, USD Billion; 2019–2030)
OEM
Aftermarket
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Regional Landscape section of the Avionics report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key reasons to buy the Global Avionics Market report:
The latest report comprehensively studies the global Avionics market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
In conclusion, the Avionics Market report is an exhaustive database that will help readers formulate lucrative strategies. The Avionics Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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