Visiongain has published a new report entitled Commercial Avionics Market Report 2024-2034: Forecasts by Fit (Retrofit, Forward Fit), by Navigation Systems (Flight Management Systems (FMS), Global Navigation Satellite Systems (GNSS), Inertial Navigation Systems (INS)), by Surveillance Systems (Radar Systems, Traffic Collision Avoidance Systems (TCAS), Automatic Dependent Surveillance–Broadcast (ADS-B), Other), by Aircraft Type (Narrow Body, Wide Body, Regional & Business Jet, Freighter, Other), by System Type (Navigation Systems, Surveillance Systems, Integrated Modular Avionics (IMA), Communication Systems, Flight Control and Monitoring Systems, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The global commercial avionics market was valued at US$33.0 billion in 2023 and is projected to grow at a CAGR of 4.7% during the forecast period 2024-2034.
Increasing Demand for Fuel-Efficient Aircraft
The global emphasis on environmental sustainability and cost efficiency is driving the demand for fuel-efficient aircraft, thereby influencing the commercial avionics market. Avionics systems contribute significantly to fuel efficiency through advanced technologies such as Performance-Based Navigation (PBN) and Required Navigation Performance (RNP). These systems optimize flight paths, reduce fuel consumption, and enhance overall operational efficiency. Aircraft manufacturers, responding to industry and regulatory pressure to reduce carbon emissions, are integrating avionics solutions that contribute to environmentally friendly and cost-effective air travel.
Enhanced Safety Standards and Regulations
Stringent safety standards and regulations imposed by aviation authorities worldwide propel the demand for advanced avionics systems. Avionics technologies, such as Traffic Collision Avoidance System (TCAS), Terrain Awareness and Warning System (TAWS), and Enhanced Ground Proximity Warning System (EGPWS), are crucial for ensuring safe flight operations. Compliance with safety regulations, such as those outlined by the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA), drives avionics advancements aimed at preventing accidents and improving overall aviation safety.
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How has COVID-19 had a significant negative impact on the Commercial Avionics Market?
The COVID-19 pandemic has significantly impacted the global commercial avionics market, introducing a myriad of challenges that have reshaped the industry landscape. With widespread travel restrictions, lockdowns, and a steep decline in air travel demand, the aviation sector experienced unprecedented disruptions. As a consequence, the commercial avionics market faced a substantial downturn, characterized by deferred aircraft deliveries, airline financial strain, and reduced investments in new avionics technologies.
One of the immediate impacts of the pandemic was the slowing down of production and manufacturing activities across the aviation supply chain. Aircraft manufacturers, facing reduced demand and financial constraints, either delayed or scaled back production plans, directly affecting the demand for avionics systems. Furthermore, airlines, grappling with financial uncertainties, deferred or cancelled avionics upgrades and retrofitting projects to conserve capital, contributing to a temporary dip in market growth.
How will this Report Benefit you?
Visiongain’s 419-page report provides 132 tables and 208 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global commercial avionics market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Commercial Avionics. Get financial analysis of the overall market and different segments including fit, navigation systems, surveillance systems, aircraft type, and system type and capture higher market share. We believe that there are strong opportunities in this fast-growing commercial avionics market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Increasing Adoption of Sophisticated Flight Management Systems by Aircraft OEMs
One of the primary driving factors influencing the commercial avionics market is the escalating adoption of sophisticated flight management systems (FMS) by aircraft original equipment manufacturers (OEMs). FMS, a critical component of avionics, integrates various systems to provide accurate and efficient control of the aircraft during all phases of flight. This includes functions such as navigation, communication, and automation of in-flight tasks. The aviation industry is witnessing a notable shift towards more advanced and integrated FMS solutions, driven by the continuous quest for enhanced operational efficiency, improved safety, and compliance with evolving airspace regulations.
Aircraft OEMs are increasingly recognizing the pivotal role that modern FMS plays in optimizing flight routes, reducing fuel consumption, and enhancing overall flight performance. The integration of advanced FMS allows for precise navigation, route planning, and fuel management, contributing to both economic and environmental considerations. These systems enable aircraft to operate more seamlessly within the global airspace, ensuring compliance with evolving air traffic management requirements.
Expansion of the Commercial Aviation Sector: Catalyst for Avionics Advancements
The surge in the commercial aviation sector, propelled by a relentless rise in air travel demand and the forces of globalization, stands as a pivotal driver influencing the commercial avionics market. The escalating number of passengers and the increasing volume of cargo shipments are compelling airlines to make substantial investments in cutting-edge avionics solutions. The primary aim is to not only meet the growing demands but also to fortify operational efficiency and sustain a competitive advantage in the dynamic aviation landscape.
In response to this, avionics systems have emerged as indispensable enablers of growth for the commercial aviation sector. These systems contribute significantly by enhancing navigation accuracy, improving communication protocols, and elevating the overall performance of aircraft. For instance, advancements in avionics technology have given rise to modern cockpit systems equipped with integrated displays, intuitive controls, and sophisticated communication tools. These innovations not only streamline pilot operations but also contribute to the safety and reliability of flights in the burgeoning commercial aviation environment.
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Where are the Market Opportunities?
Fleet Modernization Programs Opportunities for the market Growth
The opportunity presented by fleet modernization programs is a significant driver for market growth. As airlines and operators seek to enhance the performance, efficiency, and safety of their fleets, there is a growing demand for avionics solutions that align with modernization initiatives. The implementation of advanced avionics systems allows for the integration of cutting-edge technologies, ensuring compliance with evolving regulations and industry standards. Fleet modernization presents an avenue for avionics manufacturers to offer retrofit solutions, addressing the need for upgraded systems in existing aircraft, and providing airlines with cost-effective strategies to meet the demands of a dynamic aviation landscape.
For instance, on 20 Nov 2023, Malaysia Aviation Group (MAG) celebrated the arrival of its first Boeing 737-8 aircraft, marking the initiation of its narrow body fleet expansion plan. The induction, attended by dignitaries including the Minister of Transport Malaysia and Group Chairman of MAG, Tan Sri Wan Zulkiflee Wan Ariffin, is part of MAG's order of 25 Boeing 737-8 aircraft through its lease with Air Lease Corporation. The aircraft will commence commercial flights, starting with Kota Kinabalu, and contribute to MAG's vision of becoming Asia's leading travel and aviation services group. The 737-8 features wireless in-flight entertainment and a connectivity strategy, enhancing passenger experience.
The Continuous Evolution of Avionics Technologies, such as AI, ML, and Blockchain, Provides Opportunities for the Market
The continuous evolution of avionics technologies, particularly in the realms of artificial intelligence (AI), machine learning (ML), and blockchain, opens up expansive opportunities for market growth within the aviation industry. These advanced technologies present innovative solutions that significantly contribute to enhancing operational efficiency, data management, and overall performance.
Artificial intelligence and machine learning, when integrated into avionics systems, offer transformative capabilities. These technologies have the potential to optimize navigation processes, automate decision-making procedures, and enhance predictive maintenance strategies. Through AI and ML applications, avionics systems can adapt and improve their performance over time, leading to more efficient and reliable aircraft operations.
Competitive Landscape
The major players operating in the commercial avionics market are Astronautics Corporation of America, BAE Systems PLC, Cobham Limited, Curtiss-Wright Corporation, Diehl Stiftung & Co. KG, Garmin Ltd., General Electric Company, Honeywell International Inc, L3Harris Technologies, Inc., Parker Meggitt, Raytheon Technologies Corporation, Safran S.A., Teledyne Technologies Incorporated, Thales Group, TransDigm Group. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
- 17 Sept 2023, GE Aviation and Honeywell International announce a partnership to develop and produce next-generation commercial avionics systems. The partnership will leverage the companies' complementary strengths in avionics, software, and artificial intelligence.
- 19 Aug 2023, Honeywell launched its new Anthem flight management system (FMS) for commercial aircraft. The Anthem FMS is designed to improve flight efficiency and reduce costs by providing pilots with more accurate and real-time information.
- 12 July 2023, Thales Group to acquire Cobham Aerospace Communications for USD 1.1 billion. This acquisition will strengthen Thales' avionics portfolio, particularly in the areas of cockpit communication systems and flight management systems.
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