Aerospace Avionics Market 2018 Key Players Airbus and Boeing

(I-TravelNewswire.Com, August 07, 2018 ) Aerospace Avionics Market to exhibit substantial growth from 2017 to 2024. Rising aircraft deliveries due to rising air passenger traffic will primarily drive the industry growth. Various countries across the globe are increasingly spending on military sector, further propelling the revenue generation. Substantial growth of avionics in general aviation sector has led to increased production of display, navigation, and communication systems, inducing immense growth potential to the industry size till 2024.

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The aircrafts are increasingly being equipped with the advanced avionics system including GPS, controls with touch screen panels, and glass cockpits. These components are anticipated to eliminate the need for manual avionics. Increasing commercialization of Unmanned Aerial Vehicles (UAVs) is another opportunity for the industry as it will make them more accessible & attractive for delivery purposes and their increased production, thereby significantly contributing towards revenue generation.

By subsystem, aerospace avionics market share is segmented into communication, navigation & surveillance, flight & control management, inflight entertainment, mission/tactical, monitoring/glass cockpit, and electrical & emergency systems. Flight & control management system is expected to dominate the revenue share till 2024 owing to high demand for information sharing of real time flight planning. Extensive usage of avionics in flight management will further support the industry dominance.

Based on fit, the industry is segmented into retrofit and line-fit. Line-fit is likely to capture highest revenue share over the forecast timeframe owing to its high usage by prominent aerospace leaders including Airbus and Boeing. Retrofit avionics will exhibit steady growth owing to permissive policies regarding installation of non-certified equipment in certified aircrafts. Moreover, aging aircrafts require regular upgradation of these retrofit avionics, further propelling the industry growth.

North America aerospace avionics market will exhibit maximum revenue share till 2024. Substantial investments from component manufacturers and OEMs in R&D for development of advanced products will primarily drive the region’s growth. Moreover, presence of major aerospace industry leaders across the region will support the regional dominance. Asia Pacific will witness substantial growth owing to rising investments in military & defense sector coupled with growth in overall aerospace industry in the region.

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Aerospace avionics market is segmented based on platform into commercial, UAVs, and defense. Defense platform is anticipated to exhibit highest aerospace avionics market share over the next eight years owing to rising deployment of avionics in military aircrafts. Increasing expenditure on defense sector across the globe will further strengthen the product penetration. UAV will grow considerably owing to technological advancements and rising demand from commercial applications.

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