Avionics Industry Market Predictions and Key Players' Landscape

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MNM HOME (/) PRESS RELEASES (/PRESS-RELEASE-2.HT
ML) Avionics Industry worth 66.3 Billion by
2027 GLOBAL TOP 2000 STRATEGIST RELY ON US FOR
THEIR GROWTH STRATEGIES. KNAOWviMoOnREics(/IKnnodw
uledsgetsrtyorew.asop)rth 66.3 Billion by
2027 VIEW FULL TABLE OF CONTENTS
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"Avionics Market (https//www.marketsandmarkets.co
m/Market-Reports/commercial-avionic-system-
market-138098845.html) by System (Navigation,
Payload Mission Management, Traffic Collision
Management, Communication, Power Data
Management, Weather Detection, Flight Management,
Electronic Flight Display), Fit, Platform
Region - Global Forecast to 2027" The avionics
market size is projected to grow from USD 46.7
Billion in 2022 to USD 66.3 Billion by 2027, at a
CAGR of 7.3 from 2022 to 2027. The deployment
of avionics is driven by the rising demand for
aircraft modernization to improve operating
safety and fuel economy, consequently lowering
operational costs. Advance digital avionics are
already present in newer generation aircraft. To
improve operational efficiency and safety,
airline operators are rapidly updating their
aircraft outdated electronics systems. Browse 232
market data Tables and 50 Figures spread through
277 Pages and in-depth TOC on "Avionics Market
by System (Navigation, Payload Mission
Management, Traffic Collision Management,
Communication, Power Data Management, Weather
Detection, Flight Management, Electronic Flight
Display), Fit, Platform Region - Global
Forecast to 2027" View detailed Table of Content
here - https//www.marketsandmarkets.com/Market-Re
ports/commercial- avionic-system-market-138098845
.html (https//www.marketsandmarkets.com/Market-Re
ports/commercial- avionic-system-market-138098845
.html) The Navigation segment is estimated to
dominate market share in the avionics market
during the forecast period Based on system, the
navigation segment is projected to lead the
market during the forecast period. It is
projected that demand for components like air
data computers and altimeters would increase at
the rapid pace. The major airline is also
expanding its fleet in order to meet demand the
fleet which is outfitted will be updated with
advanced inertial reference systems and air data
computers that are connected with other avionics
systems to increase operational efficacy. The
technological development of navigational tools
has significantly fuelled the
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ment is estimated to account for the largest
share of the avionics market during y aviation
segment is projected to lead the avionic market
during the forecast period. O(/)ver the last ten
years, the demand for military aircraft is
expanding as a result of the military superpowers
increasing military expenditure, including the
US, China, and Russia. It will help the market
for military avionics to
The Military Aviation seg forecast period Based
on Platform, militar
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grow. The market for military aircraft will be
strengthened by new developments in aircraft,
such as the use of
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stealth technology, sophisticated composite
materials, and fifth-generation technology. The
line fit segment is estimated to dominate market
share in the avionics market during the forecast
period Based on Fit, the line fit segment is
projected to lead the avionics market during the
forecast period. More aircraft deliveries are
being done to effectively service the steadily
increasing passenger demand. Strategies for
fleet modernization are anticipated to be
influenced by rising laws that aim to enhance the
safety features provided by aircraft and
standardize the features provided by different
types of aircraft. North America is projected to
lead the market during the forecast period North
America dominated market share in 2022, and Latin
America is projected to witness growth at the
highest CAGR during the forecast period. The
avionics market for the commercial and business
aviation sectors in these regions is expected to
grow on account of the growing demand for air
travel, while the demand for avionics in the
military aviation sector is driven by the
modernization of aircraft fleet. Major players
operating in the avionics market include Raytheon
Technologies Corporation (US), Curtiss-Wright
Corporation (US), Honeywell International Inc.
(US), L3Harris Technologies Inc. (US), General
Electric Company (US), Safran SA (France), BAE
Systems PLC (UK), Astronautics Corporation of
America (US), and Garmin Limited (US). Dont
miss out on business opportunities in Avionics
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