Global Avionics Market value $86.9 billion by 2024

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According to the latest market research report
the 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 during the forecast
period. Growth in the retrofit aircraft market
is a major factor driving the growth of the
avionics market. Upgradation of aircraft
technologies, maintenance
with new
scheduled
operations of aircraft, significant fuel saving
and are

• expected to drive the growth of the avionics
  market.
• Download PDF Brochure _at_ https//www.marketsandmar
  kets.com/pdfdownloadNew.asp?id138098845 Market
  Size Estimation
• Both, the top-down and bottom-up approaches were
  used to estimate and validate the total size of
  the avionics market. These methods were also used
  extensively to estimate the size of various
  subsegments in the market. The research
  methodology used to estimate the market size
  includes the following details.
• Key players in the industry and markets were
  identified through extensive secondary research.
• The industrys supply chain and market
  size, in terms of value, were
• determined through primary and secondary research
  processes.
• All percentage shares, splits, and breakdowns
  were determined using secondary sources and
  verified through primary sources.
• 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

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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 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
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