Global Avionics Market Outlook and Industry Forecast to 2024

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The report "Avionics Market by End User (OEM,
Aftermarket), System (FMS, CNS,
Health Monitoring, Electrical Emergency and
Software), Platform (Commercial, Military,
Business Jets General Aviation, Helicopters),
and Region - Global Forecast to 2024", The
avionics market is projected to grow
from 68.5 billion in 2019 to 86.9 billion by
2024, at a CAGR of 4.86 during the
forecast period. Growth in the
retrofit aircraft market is expected to be a
major factor driving the market. Download PDF
Brochure _at_ https//www.marketsandmarkets.com/pdfdo
wnloadNew.asp?id138098845 North America is
estimated to account for the largest share of the
avionics market in 2019. The growth of the
avionics market in the North American region is
expected to be fueled by the increase in the
number of deliveries of wide-body and narrow-body
aircraft. The growing demand for aircraft in
commercial applications and their increasing
utility in the defense sector to carry out
transport and surveillance activities are
additional factors influencing the growth of the
North America avionics market. By platform, the
avionics market has been segmented into
commercial aviation, military aviation, business
jets general aviation, and helicopters. Among
these, the commercial aviation segment is
projected to be the fastest-growing during the
forecast period. Manufacturers are currently
focusing on avionics components to develop
products that are more reliable, accurate, and
efficient. Continuous improvements in software
technology have modified the human-machine
interface of avionics systems. It has become
more user-friendly and can automate a wide
variety of in-flight tasks, thereby reducing the
workload of the flight crew to a large extent. By
system, the avionics market has been segmented
into hardware and software. Among these, the
software segment is projected to witness the
highest growth rate during the forecast period.
In software, a real-time operating system (RTOS)
has a central role in safety and security.
Safety-critical systems go through a rigorous
development, testing, and verification process
before being certified for use. For avionics
software and other airborne systems, the de-facto
standard for software development is
RTCA/DO-178C Software Considerations in Airborne
Systems. Some of the major vendors in the
avionics market include Honeywell (US), Esterline
Technologies (US), Curtiss-Wright (US), L3
Communications (US), and UTC (Collins Aerospace)
(US).
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