According to a new market research report published by Credence Research “Commercial Avionics Market (By System Type– Flight Control and Management Systems, Display Suites, Radio Tuning and Communication Systems, In-flight Entertainment Systems; By Channel: Forward Fit and Retrofit; By Aircraft Type: Fixed Wing and Rotary Wing) - Growth, Future Prospects, Competitive Analysis and Forecast 2017 - 2025”, the global commercial avionics market was valued at US$ 16.7 Bn in 2016 and is expected to grow at a CAGR of 7.1% during the forecast period from 2017 to 2025.
The complete report is available at http://www.credenceresearch.com/report/commercial-avionics-market
Market Insights
Commercial avionics industry has witnessed sustainable growth in the recent on account of various factors such as continued demand for commercial aircrafts across the world. However, with technological advancements and rise of stringent norms towards to the use of advanced electronics in aircrafts, the commercial avionics market is expected to witness significant growth in the following years. The ADS-B Mandate being adopted by numerous key markets North America, Europe and Asia Pacific is expected to drive the demand for advanced solutions in various fixed and rotary wing aircrafts. Furthermore, rising vulnerability towards terror attacks and instances of aircrafts diverting from their planned route have led to numerous concerns pertaining to aircraft safety. With the use of latest flight control and management systems, airline operators can ensure higher degree of safety and security of both aircraft and passengers.
Some of the other key growth segments in the overall commercial avionics market include display suites and in-flight entertainment systems. The display suites are comprised of numerous types of display consoles such as head-up displays, flight displays and head mounted displays which offer ease access to flight information to the pilots. Rising demand for head mounted displays especially from the small fixed wing and rotary wing aircraft segment is expected to drive the overall display suites market. Furthermore, increasing demand for entertainment and connectivity from the on-board passengers is driving the in-flight entertainment systems market across the world. Numerous leading airline operators have already deployed in-flight entertainment systems in order to leverage additional stream of revenue.
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Competitive Insights:
The global commercial avionics market is fairly consolidated with several leading manufacturers of commercial avionics providing forward fit solutions to aircraft manufacturers. However, there is also a large presence of numerous niche players which offer retrofit solutions enabling higher degree of customization and specialization for the aircraft manufacturers and airline operators. Some of the key players in the commercial avionics market include Honeywell International, Inc., Universal Avionics Systems Corporation, Rockwell Collins, Inc., Thales Group, GE Aviation, L3 Technologies, Inc., Cobham PLC, Saab AB, UTC Aerospace Systems, Teledyne Technologies Incorporated, Garmin Ltd., Esterline Technologies Corporation, Meggitt Avionics and Panasonic Avionics Corporation.
Key Trends:
- Introduction of Next Generation aircrafts leading to higher adoption of state-of-the-art avionics
- Increasing demand for modular integrated avionics enabling higher accessibility and control from the cockpit
- Fast adoption of in-flight entertainment systems in commercial airlines
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