Avionics Market Growing at the Fastest Rate in APAC and North America Region

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Avionics Market Growing at the Fastest Rate
in APAC and North America Region 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 major factor
driving the avionics market. Growth in the
retrofit aircraft market is a major factor
driving the growth of the avionics market. Up
gradation of aircraft with new technologies,
scheduled maintenance operations of aircraft, and
significant fuel saving are expected to drive the
growth of the avionics market. Download PDF
Brochure _at_ https//www.marketsandmarkets.com/pdfdo
wnloadNew.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.
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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. Thales (France) is among the
worlds top three suppliers and
manufacturers of avionics. Thales introduced
Avionics 2020, a fully connected avionics
suite for helicopters that allows helicopter
operators to detect Flight Data Monitoring (FDM)
systems and to enhance fleet efficiency and
safety. Ask for Sample Report _at_ https//www.marke
tsandmarkets.com/requestsampleNew.asp?id138098845
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