“Avionics market is projected to grow at a CAGR of 6.90% during the forecast period”
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. Increase in the number of aircraft deliveries and rise in military aircraft spending by emerging economies are expected to drive the avionics market in the coming years. On the other hand, regulatory framework pertaining to avionics subsystems act as one of the major restraints for the avionics market.
“Based on subsystem, the flight control & management system segment dominated the avionics market in 2016”
Based on platform, the flight control & management system segment dominated the avionics market in 2016. This is mainly due to the increased demand for modernization of avionics components in the avionics market.
“Based on fit, the line-fit segment dominated the avionics market in 2016”
Based on fit, the line-fit segment dominated the avionics market in 2016. This is due to the increase in number of aircraft being used by countries for commercial and military use worldwide.
“Based on platform, the defense segment dominated the avionics market in 2016”
Based on platform, the defense segment dominated the avionics market in 2016. This dominance is mainly attributed to the increase in the number of aircraft and defense deals across region such as Asia-Pacific and Europe. In addition, increase in budget allocation for defense equipment has contributed to the growth of the military segment of the avionics market.
“North America dominated the avionics market in 2016” North America dominated the avionics market in 2016. Countries in this region include the U.S. and Canada. This market is estimated to grow majorly due to the increase in aircraft deliveries and rise in air passenger traffic. The U.S. is expected to drive the North America avionics market.
Break-up of profile of primary participants for this report:
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, Tier 3 – 20%
• By Designation: C level – 35%, Director level – 25%, Others – 40%
• By Region: North America – 45%, Europe – 20%, Asia-Pacific – 30%, RoW – 5%
Some of the key players in the avionics market are 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.).
The study segments the avionics market based on subsystem (flight control & management system, communication, navigation & surveillance systems, monitoring/glass cockpit, electrical & emergency systems, inflight entertainment, and mission/tactical system), fit (line-fit, retrofit), and platform (commercial, defense, UAV), and maps these segments and subsegments across major regions, namely, North America, Europe, Asia-Pacific, and RoW (Rest of the World). The report provides in-depth market intelligence regarding market dynamics and major factors that influence the growth of the avionics market (drivers, restraints, opportunities, and industry-specific challenges), along with analyzing micromarkets with respect to individual growth trends, prospects, and their contribution to the avionics market.
Reasons to buy the report:
From an insight perspective, the avionics market report focuses on various levels of analysis — industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss basic views on competitive landscape, high-growth regions, and countries, and their respective regulatory policies, drivers, restraints, and opportunities.
The avionics market report provides insights on the following pointers:
• Market Penetration: Comprehensive information regarding the competitive landscape in the avionics market
• Market Sizing: Market size in financial year 2014-2015 and projection of the market size from 2016 to 2022
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the avionics market
• Market Overview: Market dynamics and subsequent analyses of associated trends, drivers, restraints, and opportunities prevailing in the avionics market
• Market Development: Comprehensive information about lucrative markets by analyzing markets for avionics systems across various regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the avionics market
• Regional Analysis: Factors influencing market shares of North America, Europe, Asia-Pacific, and Rest of the World
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading market players