Aerospace Avionics Market - By System (Flight Management System, Communication System, Navigation System, Surveillance System, Electric System, Emergency System, Collision Avoidance System, Weather System), By Application, By End Use, Market Share & Forecast, 2023 - 2032

Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Aerospace | Format: Report available in PDF / Excel Format

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Aerospace Avionics Market - By System (Flight Management System, Communication System, Navigation System, Surveillance System, Electric System, Emergency System, Collision Avoidance System, Weather System), By Application, By End Use, Market Share & Forecast, 2023 - 2032

Aerospace Avionics Market Size

Aerospace Avionics Market size was valued at USD 78.2 billion in 2022 and is estimated to register a CAGR of over 4% between 2023 and 2032. The increasing demand for air travel is a primary factor driving the market progress.

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As more people choose air transportation for business & leisure purposes, airlines are expanding their fleets along with modernizing the existing aircraft. This necessitates the adoption of advanced avionics systems to enhance safety, efficiency, and passenger experience. These systems include navigation aids, communication equipment, flight control systems, and entertainment systems. Moreover, the introduction of newer & more fuel-efficient aircraft models is further propelling the demand for cutting-edge avionics, thereby ensuring that the aviation industry remains competitive and meets the evolving expectations of travelers worldwide.

Aerospace Avionics Market Report Attributes
Report Attribute Details
Base Year 2022
Aerospace Avionics Market Size in 2022 USD 78.2 Billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 4%
2032 Value Projection USD 110 billion
Historical Data for 2018 to 2022
No. of Pages 200
Tables, Charts & Figures 290
Segments covered System, Application, End-use & Region
Growth Drivers
  • Rising demand for commercial air travel
  • The developing aircraft avionics regulations in Europe
  • The need to upgrade avionics equipment at the commercial & military levels
  • Vulnerability to supply chain disruptions
  • Technological advancements and the implementation of the latest systems
Pitfalls & Challenges
  • High manufacturing costs
  • Threats of cyberattacks

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Aerospace avionics, often referred to as avionics, is a specialized field of electronics that encompasses the design, development, installation, and maintenance of the electronic systems & devices used in aircraft and spacecraft. These systems include navigation, communication, flight control, monitoring, and safety equipment. Aerospace avionics play a critical role in the guidance & control of spacecraft as well as in ensuring safe & efficient civil and military aviation operations. They incorporate advanced technologies to enhance aircraft & spacecraft capabilities, safety, and performance while meeting the stringent regulatory & operational requirements.

The high manufacturing cost is a significant pitfall in the aerospace avionics market. Avionics systems require cutting-edge technology, quality assurance, and stringent testing to meet the industry standards and safety regulations. This necessitates substantial investments in research, development, and manufacturing initiatives, thereby driving up production costs. These elevated costs can limit market accessibility for smaller manufacturers and put pressure on larger ones to optimize efficiency. It may also lead to increased prices for customers, thereby affecting affordability and the overall market competitiveness as well as hindering growth & innovations in the sector.

COVID-19 Impact

Hey there! The COVID-19 pandemic has been a major blow to the world of flying, and that means trouble for the companies that make the high-tech systems for planes. When nobody's flying, airlines don't need new planes or fancy equipment to keep their old ones running. So, companies that make those things have lost a lot of business. Airlines have been struggling to make money, so they've put their orders for new planes and equipment on hold or even canceled them. This has made it really tough for the companies that make that stuff to keep making money. On top of that, the whole supply chain has been messed up, and it's been hard to get the parts and people needed to build planes. Even the military has had to cut back on spending on planes and equipment, which has hurt the businesses that make those things too. All together, the market for plane equipment has been in a nosedive. Projects are getting delayed, sales are way down, and companies are feeling the pinch.

Aerospace Avionics Market Trends

Hey there! You'll be amazed by the incredible advancements in airplanes these days! They're becoming like super-smart machines. First off, we're seeing Artificial Intelligence (AI) and Machine Learning (ML) being used to make planes do stuff like fly themselves, fix themselves before they even break down, and make decisions like a pilot. It's like having a tiny robot brain on board. Next up, the electronics in planes are getting smaller and more efficient. This means planes can carry more passengers and fly longer distances without needing to refuel as often. Plus, they're using newfangled antennas that can beam signals in different directions, which saves space and weight. And get thisplanes are becoming more connected than ever before. They can share data with the ground in real-time, so pilots can see what's going on around them better and passengers can enjoy faster internet. But that's not all. We're also thinking about the planet with eco-friendly avionics technologies. These systems use less energy and produce fewer emissions, making planes less harmful to the environment. So, what does all this mean for you? Well, it means you can expect planes to be smarter, more connected, and better for the environment. It's like the future is here, and it's flying right overhead!

Aerospace Avionics Market Analysis

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Based on application, the aerospace avionics market is segmented into commercial aviation, military aviation, business jet & general aviation, and helicopters. The commercial aviation segment is expected to register CAGR of over 3% during forecast period 2023-32. Commercial aviation is experiencing growth in the market. The rising global demand for air travel led to the expansion of commercial airline fleets, which is propelling the need of advanced avionic systems for modernization & safety purposes.

The passenger expectations pertaining to in-flight connectivity and entertainment systems are driving investments in advanced communication & entertainment avionics. Airlines are striving to improve fuel efficiency and reduce emissions, thereby prompting the development of avionics solutions for optimized flight planning and navigation. Furthermore, stringent safety regulations and the need to enhance operational efficiency are compelling airlines to invest in state-of-the-art avionic technology, driving market growth in the commercial aviation sector.

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Based on end use, the aerospace avionics market is segmented into OEM and aftermarket The OEM segment accounted for a market share of over 75% in 2022; and registered a market revenue of over USD 60 billion in the same year. The Original Equipment Manufacturers (OEMs) in the market are experiencing progress. The increasing demand for new aircraft & spacecraft is compelling OEMs to produce more avionics systems. Technological advancements are propelling the integration of advanced avionics into modern aircraft, which is further boosting the market shares of OEMs.

The stringent regulatory requirements for safety and emissions are augmenting upgrades and the replacement of avionics systems in the existing fleets, thereby creating a steady aftermarket demand. OEMs are also expanding in emerging markets such as Asia Pacific, where the growing air travel and aerospace industries present lucrative growth opportunities for the aerospace avionics sector.

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North America is a huge player in the aerospace avionics market, holding a sizeable chunk of over 30% in 2022. This is because the region is a home base for big aerospace companies like Boeing and Lockheed Martin, who drive the need for up-to-date avionics systems. North America has a strong defense department that puts money into avionics for use in military planes. It also has a thriving commercial airline industry, where companies are always looking to improve their planes' avionics for safety and saving fuel. The United States is a hub for innovation and has many research centers that are working on new avionics tech. Strict safety regulations and a focus on protecting planes from cyber threats also drive investment in cutting-edge avionics tech, which helps the market grow even more.

Aerospace Avionics Market Share

The aerospace avionics market is highly competitive owing to the presence of key players such as

  • Airbus
  • BAE Systems
  • Boeing
  • Cobham Plc.
  • Elbit Systems Ltd.
  • General Dynamics Corporation
  • General Electric
  • Honeywell
  • L3 Harris Corporation
  • Leonardo S.P.A.
  • Northrop
  • Grumman
  • Raytheon Airbus S.A.S.
  • Saab AB
  • Safran S.A

Thales Group. Industry participants are estimated to increase their foothold in the commercial industry with acquisitions and growing investments in facility centers. The significant investments in R&D to gain technological competitiveness as well as aggressive business strategies including technological launches, collaborations, and long-term agreements with clients to capture market shares are positively impacting market share.

Aerospace Avionics Market News

In July 2023, Thales Groups acquired Cobham Aerospace Communications, a leading supplier of advanced, ultra-reliable, and innovative safety cockpit communication systems. The proposed deal, valued at USD 1.1 billion, was aimed at bolstering the portfolio of Thales Avionics.

The aerospace avionics market report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD million) from 2018 to 2032, for the following segments

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By system, 2018 – 2032

  • Flight management system
  • Communication system
  • Navigation system
  • Surveillance system
  • Electric system
  • Emergency system
  • Collision avoidance system
  • Weather system
  • Health monitoring system
  • Tactical system
  • In-flight entertainment

By application, 2018 – 2032

  • Commercial aviation
  • Military aviation
  • Business jet & general aviation
  • Helicopters

By end use, 2018 – 2032

  • OEM
  • Aftermarket

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA

 

 

Table of Content

Report Content

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Base estimates & calculations

1.3    Forecast calculation

1.4    Data Sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1   Paid sources

1.4.2.2   Public sources

Chapter 2   Executive Summary

2.1    Aerospace avionics market 360º synopsis, 2018 - 2032

2.2    Business trends

2.3    Regional trends

2.4    System trends

2.5    Application trends

2.6    End-use trends

Chapter 3   Aerospace Avionics Market Industry Insights

3.1    Impact of COVID-19

3.2    Impact of the Russia-Ukraine War

3.3    Industry ecosystem analysis

3.4    Vendor matrix

3.5    Profit margin analysis

3.6    Technology & innovation landscape

3.7    Patent analysis

3.8    Key news and initiatives

3.8.1    Partnership/Collaboration

3.8.2    Merger/Acquisition

3.8.3    Investment

3.8.4    Product launch & innovation

3.9    Regulatory landscape

3.10    Impact forces

3.10.1    Growth drivers

3.10.1.1    Rising demand for commercial air travel

3.10.1.2    Developing aircraft avionics regulations in European region

3.10.1.3    Need of upgrading avionics equipment at commercial and military level

3.10.1.4    Vulnerability to supply chain disruptions

3.10.1.5    Technological advancement and implementation of latest systems

3.10.2    Industry pitfalls & challenges

3.10.2.1    High manufacturing cost

3.10.2.2    Threats of Cyber attacks

3.11    Growth potential analysis

3.12    Porter’s analysis

3.13    PESTEL analysis

Chapter 4   Competitive Landscape, 2022

4.1    Introduction

4.2    Company market share, 2022

4.3    Competitive analysis of major market players, 2022

4.3.1    Company 1

4.3.2    Company 2

4.3.3    Company 3

4.3.4    Company 4

4.3.5    Company 5

4.3.6    Company 6

4.3.7    Company 7

4.4    Competitive positioning matrix, 2022

4.5    Strategic outlook matrix, 2022

Chapter 5   Aerospace Avionics Market Estimates & Forecast, By System (USD Million)

5.1    Key trends, by system

5.2    Flight Management System

5.3    Communication System

5.4    Navigation System

5.5    Surveillance System

5.6    Electric System

5.7    Emergency System

5.8    Collision Avoidance System

5.9    Weather System

5.10    Health Monitoring System

5.11    Tactical System

5.12    In-Flight Entertainment

Chapter 6   Aerospace avionics market Estimates & Forecast, By Application (USD Million)

6.1    Key trends, by application

6.2    Commercial Aviation

6.3    Military Aviation

6.4    Business Jet & General Aviation

6.5    Helicopters

Chapter 7   Aerospace avionics market Estimates & Forecast, By End-Use (USD Million)

7.1    Key trends, by end-use

7.2    OEM

7.3    Aftermarket

Chapter 8   Aerospace avionics market Estimates & Forecast, By Region (USD Million)

8.1    Key trends, by region

8.2    North America

8.2.1    U.S.

8.2.2    Canada

8.3    Europe

8.3.1    UK

8.3.2    Germany

8.3.3    France

8.3.4    Italy

8.3.5    Spain

8.3.6    Rest of Europe

8.4    Asia Pacific

8.4.1    China

8.4.2    India

8.4.3    Japan

8.4.4    South Korea

8.4.5    ANZ

8.4.6    Rest of Asia Pacific

8.5    Latin America

8.5.1    Brazil

8.5.2    Mexico

8.5.3    Rest of Latin America

8.6    MEA

8.6.1    Saudi Arabia

8.6.2    UAE

8.6.3    South Africa

8.6.4    Rest of MEA

Chapter 9   Company Profiles

9.1    Airbus

9.2    BAE Systems

9.3    Boeing

9.4    Cobham Plc.

9.5    Elbit Systems Ltd.

9.6    General Dynamics Corporation

9.7    General Electric

9.8    Honeywell

9.9    L3 Harris Corporation

9.10    Leonardo S.P.A.

9.11    Northrop Grumman

9.12    Raytheon Airbus S.A.S.

9.13    Saab AB

9.14    Safran S.A.

9.15    Thales Group

  • Airbus
  • BAE Systems
  • Boeing
  • Cobham Plc.
  • Elbit Systems Ltd.
  • General Dynamics Corporation
  • General Electric
  • Honeywell
  • L3 Harris Corporation
  • Leonardo S.P.A.
  • Northrop
  • Grumman
  • Raytheon Airbus S.A.S.
  • Saab AB
  • Safran S.A

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