The report "Avionics Market by Sub-System (CNS,
FCS, FMS, IFE, Monitoring/ Glass Cockpit System, Military & Tactical
System, Electrical & Emergency System), Fit (Line-Fit, Retrofit), Platform
(Commercial, Defense, UAV) and Region - Global Forecast to 2022",
The Avionics Market is projected to grow from USD 62.22 Billion in 2016 to USD
92.85 Billion by 2022, at a CAGR of 6.90% from 2016 to 2022 during the forecast
period.
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The increasing number of aircraft
deliveries, rise in military aircraft spending by emerging economies, growing
trend of modernization of airspace, and growth of the general aviation avionics
retrofit market are the major factors expected to drive the growth of the
avionics market. In the coming years, the avionics market is expected to
witness various technological developments in communication, navigation &
surveillance systems; flight control & management systems; mission/tactical
systems; and electrical & emergency systems. Advancements are expected in
avionics subsystems such as the enhanced vision system (EVS), automatic
dependent surveillance-broadcast (ADS-B), and automated flight control, and
attitude heading reference system (AHRS).
The
flight control & management system segment is projected to witness the
highest growth during the forecast period
Based on subsystem, the flight
control & management system segment of the avionics market is projected to
witness the highest growth during the forecast period. The aircraft flight
control systems can be classified into mechanical, hydro-mechanical,
fly-by-wire, and fly-by-light. The current generation aircraft utilize the
fly-by-wire (FBW) control systems which have helped significantly reduce the
weight of aircraft and its maintenance costs. Flight management system (FMS) is
one of the most fundamental components of an aircraft because it serves as the
primary interface for the pilot and enables flight planning operations.
The
retrofit segment is projected to witness the highest growth during the forecast
period
Based on fit, the retrofit
segment is projected to witness the highest growth during the forecast period.
The growth in the retrofit segment is influenced by the increase in the
retrofit of business and general aviation avionics.
Asia-Pacific
is projected to be the fastest-growing market for avionics during the forecast
period
Asia-Pacific is projected to be
the fastest-growing market for avionics during the forecast period. This growth
can be attributed to the high air passenger traffic leading to an increase in
the number of aircraft deliveries in this region.
Key players operating in the
avionics market are Honeywell International Inc. (U.S.), Rockwell Collins, Inc.
(U.S.), Esterline Technologies Corporation (U.S.), Astronics Corporation
(U.S.), L-3 Communications Holding Inc. (U.S.), Genesys Aerosystems (U.S.),
Aspen Avionics (U.S.), Avidyne Corporation (U.S.), and Garmin Ltd.
(Switzerland).
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