Global Avionics Market Statistics, Opportunities and Forecast to 2024 - PowerPoint PPT Presentation

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Global Avionics Market Statistics, Opportunities and Forecast to 2024

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Avionics market is projected to grow from USD 68.5 billion in 2019 to USD 86.9 billion by 2024, at a CAGR of 4.86%. – PowerPoint PPT presentation

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Title: Global Avionics Market Statistics, Opportunities and Forecast to 2024


1
According to the latest market research report
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 a
major factor driving the growth of the avionics
market. Upgradation of aircraft with new
technologies,
maintenance
scheduled operations significant
of aircraft, and are
fuel saving
expected to drive the growth of the avionics
market. Download PDF Brochure _at_ https//www.market
sandmarkets.com/pdfdownloadNew.asp?id138098845 By
platform, the commercial aviation segment is
expected to be the largest contributor to the
avionics market during the forecast period. The
commercial aviation sector has witnessed strong
growth over the past few years. This growth can
be attributed to factors such as increasing air
travel, the rise in disposable income of the
middle-class population, and increased
international trade and tourism across the
globe. Strong growth in this sector has resulted
in an increased number of aircraft orders to
address the increasing air passenger traffic.
Manufacturers are currently focusing on avionics
components to develop products that are more
reliable, accurate, and efficient. Continuous
improvements in software have modified the
human-machine interface of avionics. By system,
the hardware segment is projected to lead the
avionics market during the forecast
period. Hardware performs as an individual unit
providing a computing platform and various
interfaces to other avionics. It can also be
integrated as a function on various platforms
such as integrated modular avionics cabinets
(IMA). The control display unit (CDU or MCDU)
provides the primary human/machine interface for
data entry and information display. Hardware
offers primary navigation, flight planning, and
optimized route determination and en route
guidance to the aircraft. It carries out
functions such as navigation, flight planning,
trajectory prediction, performance computations,
and guidance. To accomplish these functions, the
flight management system interfaces with several
other avionics systems. North America is expected
to lead the market for avionics during the
forecast period. North America is expected to be
the largest market for avionics during the
forecast period. The growing demand for aircraft
for commercial applications and their
2
increasing utility in the defense sector to carry
out transport and surveillance activities are
additional factors influencing the growth of the
avionics market in the North American
region. Key Market Players Major vendors in the
avionics market include Safran (France),
Curtiss-Wright (US), Esterline Technologies
(US), Honeywell (US), Meggitt (UK), Thales Group
(France), and United Technologies Corporation
(Collins Aerospace) (US). Honeywell, which
specializes in avionics, has developed a new
communication technology, the Aspire 200
satellite communications system, for use on the
Bell B429 helicopter. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id138098845 About MarketsandMarkets Mar
ketsandMarkets provides quantified B2B research
on 30,000 high growth niche opportunities/threats
which will impact 70 to 80 of worldwide
companies revenues. Currently servicing 7500
customers worldwide including 80 of global
Fortune 1000 companies as clients. Almost 75,000
top officers across eight industries worldwide
approach MarketsandMarkets for their painpoints
around revenues decisions. MarketsandMarketss
flagship competitive intelligence and market
research platform, "Knowledgestore" connects
over 200,000 markets and entire value chains for
deeper understanding of the unmet insights along
with market sizing and forecasts of niche
markets. Contact Mr. Aashish Mehra
MarketsandMarkets INC. 630 Dundee Road Suite
430 Northbrook, IL 60062 USA 1-888-600-6441
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