Avionics Market Overview, 2024-29

The global avionics market represents a dynamic and rapidly evolving sector within the aerospace industry, characterised by continuous technological advancements, growing air traffic demand, and an increasing focus on safety and efficiency. Modern aircraft in the commercial, military, and general aviation sectors depend heavily on the safe and dependable operation of a wide range of electronic systems and components known as avionics. Avionics technology is always evolving for reasons including digitization, connection, and automation. These variables affect everything, from flight management systems and cockpit displays to communication equipment and navigation systems.

The growing need for air travel, fueled by globalisation, urbanisation, and economic expansion, especially in emerging nations, is driving the worldwide avionics industry. To meet strict regulatory requirements, increase operating efficiency, and improve aircraft performance, airlines, aircraft manufacturers, and defence agencies are investing in cutting-edge avionics equipment. Additionally, the growing use of electric aircraft and unmanned aerial vehicles (UAVs) is creating new opportunities for avionics producers, spurring innovation and market expansion. But the avionics market also has to contend with issues like cybersecurity threats, complicated regulations, and geopolitical unpredictability. To be competitive and satisfy changing consumer needs, sector players must innovate and adapt. Collaboration, innovation, and strategic alliances are essential in this ever-changing environment to propel the global avionics market's expansion and mould its future.

According to the report “Global Avionics Market Overview, 2029,”, the market is anticipated to cross USD 80 Billion by 2029, increasing from USD 52.58 Billion in 2023. The market is expected to grow at a 7.70% CAGR by 2024-29. The market for avionics is driven by the constant rise in demand for air travel across the world, which is spurred by factors including economic development, increased disposable incomes, and urbanisation. Advanced avionics systems are needed for general aviation, military, and commercial aircraft to support the increasing number of flights, guarantee safety, optimise routes, and improve operating efficiency.

Airlines, military forces, and private operators are investing in the modernization of their aircraft fleets to maintain competitiveness, improve fuel efficiency, and comply with evolving regulatory requirements. This modernization effort includes the integration of advanced avionics technology to enhance navigation, communication, surveillance, and flight management capabilities. Rapid advancements in avionics technology, driven by innovations in digitalization, connectivity, automation, and artificial intelligence, are driving the demand for next-generation avionics systems.

These advancements enable improved safety, reliability, efficiency, and passenger experience, driving the adoption of advanced avionics solutions across the global aviation industry. Emerging trends such as unmanned aerial vehicles (UAVs), electric aircraft, urban air mobility (UAM), and supersonic travel present new market opportunities for avionics manufacturers. These trends drive the demand for specialised avionics solutions tailored to meet the unique requirements of emerging aviation platforms and applications. The need for avionics systems that improve situational awareness, allow for real-time monitoring and communication, and reduce risks related to possible dangers, crises, and cybersecurity threats is rising as aviation safety and security become more and more of a priority.

Market Drivers

Escalating aircraft production is driving the avionics market. The global avionics market is significantly fueled by the increasing production of aircraft on a global scale. Commercial airlines, armed services, and private operators are boosting their fleets to accommodate the rising demand for air travel by carrying more passengers and freight. The increased manufacturing of aircraft requires the incorporation of sophisticated avionics systems to guarantee the aircraft's dependability, efficiency, and safety. Modern aeroplanes rely heavily on avionics technology, which includes a vast range of electronic equipment for communication, navigation, flight control, and surveillance. Avionics systems and components are in greater demand as aircraft manufacturers increase output to meet demand. As a result, avionics manufacturers have a lot of opportunity to offer cutting-edge technological solutions to satisfy the changing demands of aircraft original equipment manufacturers.

Advanced Connectivity Solutions: The advent of advanced connectivity solutions represents a key driver shaping the global avionics market. In an increasingly digital and interconnected world, the aviation industry is leveraging advanced connectivity technologies to enhance operational efficiency, passenger experience, and overall safety. Advanced connectivity solutions, such as satellite-based communication systems, broadband internet access, and wireless data transmission capabilities, enable seamless communication between aircraft, ground control centres, and other aircraft in the airspace. These connectivity solutions facilitate real-time data exchange, enabling improved situational awareness, enhanced air traffic management, and more efficient flight operations. Moreover, connectivity solutions support the implementation of emerging technologies such as predictive maintenance, remote diagnostics, and in-flight entertainment systems, further enhancing the value proposition of avionics systems. As airlines and operators seek to harness the benefits of connectivity to optimise their operations and differentiate their services, the demand for advanced avionics solutions incorporating these connectivity features continues to grow.

Market Challenges

Cybersecurity Vulnerabilities: One of the significant challenges facing the global avionics market is the increasing prevalence of cybersecurity vulnerabilities. As avionics systems become more interconnected and reliant on digital technologies, they become susceptible to cyber threats such as hacking, malware, and data breaches. Cybersecurity vulnerabilities in avionics systems pose serious risks to the safety, integrity, and confidentiality of aircraft operations. A cyberattack on avionics systems could potentially compromise critical flight controls, navigation systems, or communication networks, leading to catastrophic consequences for aircraft safety and passenger well-being. The aviation industry recognises the importance of cybersecurity and has implemented measures to mitigate risks, including the development of cybersecurity standards, protocols, and best practices.

High Cost of Maintenance of Systems to Restrict Market Growth: The high cost of avionics system maintenance is another major obstacle impeding the growth of the global avionics industry. Avionics systems are intricate, sophisticated electrical systems that need to be regularly maintained, upgraded, and repaired in order to guarantee maximum performance, dependability, and regulatory compliance. However, avionics system maintenance can be costly, especially for operators with limited funds or older aircraft fleets. A number of variables contribute to the high cost of avionics maintenance, such as labour expenses, the need for replacement parts, equipment downtime, and regulatory compliance. Furthermore, operators find it difficult to stay up to date with the most recent improvements and advancements in avionics technology due to its rapid advancement, which might result in obsolescence problems.

Based on the report, the platforms are bifurcated into commercial aviation, military aviation, and general aviation. In terms of the report, fit is segmented by line fit and retro fit.

General Aviation is fastest-growing; a wide variety of aircraft are included in the general aviation industry, such as small piston-engine aircraft, turboprops, business jets, helicopters, and unmanned aerial vehicles (UAVs). Global demand for aerial surveys, emergency medical services, law enforcement, recreational flying, and business and personal travel have all contributed to a continuous rise in the number of general aviation aircraft. Modern avionics systems are being added to general aviation aircraft more often in order to improve situational awareness, navigation, safety, and communication.

Modern avionics technology allows general aviation pilots to operate more safely and efficiently, even in difficult weather and complex airspace environments. Examples of this technology include digital cockpit displays, integrated flight decks, GPS navigation, synthetic vision systems, and collision avoidance systems. Advancements in avionics technology have made modern avionics systems more affordable, compact, and accessible to general aviation pilots and aircraft owners. Avionics manufacturers offer a wide range of cost-effective avionics solutions tailored to the needs and budgets of general aviation operators, ranging from basic navigation and communication equipment to advanced glass cockpit displays and integrated avionics suites.

Furthermore, the retrofit market is growing, and many aeroplanes in use today have antiquated avionics systems that might not adhere to the most recent operational or regulatory standards. By retrofitting these older aircraft with contemporary avionics, operators improve functionality, safety, and efficiency without having to replace the expensive aircraft. Retrofit solutions offer operators the flexibility to customise avionic upgrades to suit their specific aircraft types, missions, and operational requirements. Whether upgrading navigation systems, communication equipment, or cockpit displays, retrofit solutions can be tailored to meet individual operator preferences and fleet specifications, providing a customized solution for each aircraft.

According to the report, the system is segmented into navigation, traffic and collision management, communication, health monitoring, flight management, weather detection, electronic flight display, and others.

Electronic Flight Display is a growing avionics market; electronic flight displays provide pilots with a better understanding of their surroundings by displaying important flying data in an easy-to-understand manner. Pilots swiftly and efficiently make judgements based on the full real-time data these displays provide on aircraft attitude, altitude, airspeed, navigation, weather, and traffic. EFDs streamline cockpit operations and reduce pilot workload by consolidating multiple instruments and gauges into a single, integrated display unit. This consolidation simplifies cockpit layouts, reduces clutter, and minimises the need for manual data interpretation, enabling pilots to focus more on flying the aircraft and less on managing instruments.

With the versatility and customisation choices that EFDs provide, pilots choose preferred data formats, build up display layouts, and modify settings to suit their own needs and flying requirements. The capacity to customise an aircraft to meet the specific requirements of various aircraft types, missions, and operator preferences improves flexibility and the user experience. Advancements in display technology, such as high-resolution screens, touchscreen interfaces, and augmented reality overlays, are driving the adoption of EFDs. These technological innovations improve display clarity, readability, and functionality, making EFDs more user-friendly and capable of meeting the evolving needs of modern aviation operations.

Based on the report, the five regions covered in the report include North America, Europe, Asia Pacific, South America, the Middle East, and Africa.

Asia Pacific is a growing market. Asia Pacific is home to some of the fastest-growing economies in the world, including China, India, and Southeast Asian countries. The region's rapid economic growth has led to an increase in air travel demand for both commercial and business aviation. As airlines expand their fleets and routes to meet growing passenger demand, there is a corresponding need for advanced avionics systems to enhance safety, efficiency, and operational capabilities. The Asia Pacific region's governments and private sector organisations are making significant investments in the development and modernization of air transportation infrastructure, such as airports, air traffic control systems, and aerospace facilities.

Modern aviation technologies are becoming more and more in demand, and these infrastructural improvements present chances for avionics vendors and manufacturers to match this need with cutting-edge solutions. Several countries in the Asia-Pacific region, including China, India, South Korea, and Japan, are actively investing in military modernization programmes to enhance their defence capabilities. These programmes include the acquisition of advanced military aircraft equipped with sophisticated avionics systems for surveillance, reconnaissance, and combat operations. The demand for avionics technology in military applications contributes to the overall growth of the avionics market in the region.

Aviation authorities in the Asia-Pacific region are placing greater emphasis on safety standards and regulatory compliance to ensure the safe and efficient operation of aircraft within the region's airspace. This includes the adoption of international aviation regulations and standards, such as those set by the International Civil Aviation Organisation (ICAO). As a result, aircraft operators in the region are investing in advanced avionics systems to meet regulatory requirements and enhance safety measures.

Recent Developments

• In October 2023, Garmin entered into a lasting agreement to supply BETA Technologies with its cutting-edge Garmin G3000® integrated flight deck for the CX300 electric fixed-wing and A250 electric vertical takeoff and landing (eVTOL) aircraft. The G3000® offers high-resolution displays and advanced communication, navigation, and surveillance air traffic management capabilities. Its lightweight, flexible open system architecture seamlessly integrates with BETA's flight control, propulsion, and battery management systems.
• In May 2023, Honeywell International, Inc. has been selected by AIBOT to provide its Compact Fly-By-Wire (cFBW) system to support AIBOT's fully electric vertical takeoff and landing (eVTOL) aircraft. This Honeywell technology will empower the next generation of aircraft avionics and create a sustainable transportation ecosystem for the future.
• In May 2023, Lockheed Martin Corporation entered a partnership with IFS Global to strengthen their market position by using each other’s market strengths. The partnership is aimed at promoting various services and products to assist aerospace and defense groups in modernizing both equipment and supporting technological infrastructure.
• In February 2023, the USAF awarded a USD 135 million contract to Collins Aerospace for providing electronic control system of C-130 aircraft. The Collins Aerospace would provide manufacturing and engineering support for the NP2000 eight-blade propeller, electronic propeller control system, and spare parts for Air Force C-130 production.

Considered in this report

• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report

• Avionics market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Platform

• Commercial Aviation
• Military Aviation
• General Aviation

By Fit

• Line Fit
• Retro Fit

By System

• Navigation
• Traffic & Collision Management
• Communication
• Health Monitoring
• Flight Management
• Weather Detection
• Electronic Flight Display
• Others

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases.

After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Avionics industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.


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