The commercial avionics systems market size has experienced robust growth in recent years, escalating from $30.23 billion in 2023 to $32.29 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The surge in the historic period is attributed to aircraft modernization, regulatory compliance, enhanced communication systems, fuel efficiency demands, automation, and autonomy, meeting increased passenger expectations, driving the market forward. Forecasts suggest continued strong growth, with the commercial avionics systems market expected to reach $42.02 billion in 2028, reflecting a CAGR of 6.8%. This growth trajectory is driven by concerns regarding cybersecurity, compliance with environmental regulations, remote and condition-based maintenance, urban air mobility, and the recovery of international air travel. Major trends in the forecast period encompass next-gen avionics platforms, autonomous flight technologies, electric and hybrid aircraft, in-flight entertainment systems, satellite navigation systems, and health monitoring alongside predictive maintenance.
Major Driver In The Commercial Avionics Systems Market
The commercial avionics systems market anticipates growth driven by the increasing number of airline passengers worldwide. Avionic systems encompass electronic systems utilized on aircraft, including communication, navigation, and system display and management, ensuring efficient aircraft operations and safety. In March 2023, according to the Bureau of Transportation Statistics, US airlines transported 853 million passengers in 2022, up from 658 million in 2021. This surge in passenger numbers underscores the demand for advanced avionics systems, propelling market growth. Market size data for 2023, 2024, and 2028 reflect this anticipated growth trajectory.
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Commercial Avionics Systems Market Competitive Landscape
General Electric Company, Raytheon Technologies Corporation, The Boeing Company, Panasonic Corporation, Northrop Grumman Corporation, Honeywell International Inc., BAE Systems PLC, Safran, Thales Group, L3Harris Technologies Inc., Collins Aerospace a Raytheon Technologies Corporation, Teledyne Technologies Incorporated, Garmin Ltd., Diehl Stiftung & Co. KG, Kontron Sandt AG, Moog Inc., Curtiss-Wright Corporation, Cobham Limited, Meggitt PLC, FLIR Systems Inc., Esterline CMC Electronics Inc., Astronics Max-Viz, Astronautics Corporation of America, Universal Avionics Systems Corporation, Avidyne Corporation, EuroAvionics Navigation Systems GmbH & Co. KG, Sagetech Avionics Inc., UAVIONIX Corporation, BendixKing, Air Data Inc., Elbit Systems Ltd., Israel Aerospace Industries Ltd., GE Aviation a division of General Electric Company
Commercial Avionics Systems Market Segmentation
The commercial avionics systems market covered in this report is segmented –
1) By Sub System: Flight Management And Control, Health Monitoring, Electrical And Emergency, Communication Navigation And Surveillance, Other Sub Systems
2) By Fit: Retrofit, Forward Fit
3) By Aircraft Type: Narrow Body, Wide Body, Regional and Business Jet, Freighter
By Geography:The regions covered in the commercial avionics systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the commercial avionics systems market in 2023.
The Commercial Avionics Systems Global Market Report 2024 furnishes information about the global commercial avionics systems market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
