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AE20112838 |
Pages: 300 |
May 2022 |
Aircraft avionics is the most important component of aircraft systems, assisting in the provision of various operational and virtual information in flight and on the ground. The avionics system utilizes the data from the air traffic management system and provides it to the pilot in order for him to choose an approach path to the destination. Navigation, communication, and surveillance systems, as well as other electrical systems and in-flight entertainment systems, are all part of aerospace avionics. These systems necessitate regular system maintenance and software upgrades. Aircraft manufacturers include complete avionics systems with the aircraft, and some avionics systems, such as the in-flight entertainment system can be customized to meet the needs of the consumer. These factors are anticipated to boost the aerospace avionics market size during the forecast period.
Increasing size & complexity of software running on aerospace avionics is anticipated to restrain the market growth. For instance, the hardware and software elements nowadays have become inextricably linked in huge multithreaded code bases as they have been integrated into a single SoC. The large software footprint of today's avionics systems will necessitate the use of external memory resources, most commonly DDR memory, in many cases. This begs the question of what cache memory architecture and methodology will be used to ensure the system's performance and throughput requirements are met.
The growth and developments in the flight management system is anticipated to generate excellent growth opportunities in the coming years. This is majorly owing to the introduction of low-cost airlines and an increase in the demand for new aircraft from developing economies. In order to provide better passenger services, most developed regions are focusing on upgrading their existing aircraft fleets. With the advancement of existing systems and the delivery of new aircraft, the surveillance system market in the aerospace avionics market will experience significant growth. During the analysis period, these factors are expected to generate excellent growth opportunities in the aerospace avionics market.
According to regional analysis, the Asia-Pacific aerospace avionics market accounted for $17,159.0 million in 2021 and is predicted to grow with a CAGR of 5.9% in the projected timeframe. This is because the Asia-Pacific countries majorly China is one of the fastest growing markets for civil aerospace & aviation.
The aerospace avionics includes flight control systems, engine controls, navigation, flight recorders, communications, weather radar, fuel systems, lighting systems, threat detection, electro-optic (EO/IR) systems, performance monitors, and systems. The market for aerospace avionics is divided into three key segments: aircraft, spacecraft, and artificial satellites. Commercial aircraft, unmanned aerial vehicles (UAV), helicopters, business jets, military fighter jets, and spacecraft all use avionics.
The impact of Covid-19 on the aerospace avionics market was moderate. According to the International Air Transport Association, the leading trade association based in Canada, international passenger demand in 2021 was 75.6% lower than in 2019. Domestic demand in 2021 was down 48.85 from 2019. As a result, demand for avionics hardware and software in the commercial aviation sector has decreased, limiting the growth of the aerospace avionics market.
Businesses all over the world have experienced the need for digital management of their operations during the pandemic period. The need for the implementation of advanced technologies such as industrial internet of things (IIOT) to facilitate the real-time monitoring of aerospace avionics product manufacturing processes and virtual control of production is predicted to have a positive impact on aerospace avionics market growth post pandemic times.
A significant rise in the passenger traffic especially in the commercial aviation is anticipated to boost the market growth. This is because the commercial aircrafts are equipped with advanced technologies such as flight management systems, communication systems, navigation systems, surveillance systems, and electrical systems that enhances the customers travel experience and ensures travel safety. This could lead to an increase in the number of passengers in commercial aviation, increasing demand for more aircrafts and thus assisting the growth of the aerospace avionics market. For instance, in 2021, Airbus SE, the leading multinational aerospace corporation, delivered 566 commercial aircraft during 2021. This depicts the rise in the demand for commercial aviation despite the uncertainties brought by COVID-19 pandemic. These aspects are anticipated to propel the aerospace avionics market growth during the forecast period.
To know more about global aerospace avionics market insight and drivers, get in touch with our analysts here.
The commercial aircrafts are sophisticated and the cost involved in manufacturing and operations is quite high. Owing to this, the cost of overall aerospace avionics system increases and maintenance cost is also high. The increasing cost is majorly due to the presence of navigation systems, flight management systems, engine health monitoring, surveillance systems, and others. In addition, other technical constraints such as reliability, dependability, and limiting or eliminating the processing interference are anticipated to hamper the aerospace avionics market size during the forecast period.
The increasing demand for commercial and military aircraft, as well as the gradual increase in passenger numbers is expected to boost the aerospace avionics globally. For instance, The International Air Transport Association (IATA), a trade association headquartered in Canada, stated that the airline industry is expected to deliver approximately 1300+ aircraft by the start of 2022. In addition, the rise in per capita income in developing countries such as Brazil, Russia, India, China, and South Africa (BRICS) is expected to increase the number of air passengers as well as the number of aircrafts. Most developed countries such as the U.S., Germany, UK, and others are focusing on upgrading their existing aircraft fleets in order to provide better passenger services. These trends are anticipated to generate excellent opportunities in the aerospace avionics market during the forecast period.
To know more about global aerospace avionics market trends, get in touch with our analysts here.
Based on systems, the market has been divided into flight control system, communication system, navigation system, monitoring system, and others. Among these, the flight control system sub-segment accounted for the highest revenue share in 2021 and the navigation system sub-segment is expected to show the fastest growth during 2022-2030.
Source: Research Dive Analysis
The flight control system sub-segment is predicted to have a dominating share in the global market and register a revenue of $39,930.8 million in 2030, growing from $28,608.0 million in 2021 during the forecast period. This growth is majorly owing to growing emphasis on enhancing the aircraft operations across military aviation and commercial sector. Some of the major developments in military aviation and commercial aviation include advancements in the aircraft navigation routes, weather systems, flight & aircraft design, and others. In addition, the advancements in flight control systems such as the launch of wing circulation control and fluidic thrust vectoring technologies to boost the demand for flight control system sub-segment during the forecast period.
The navigation system sub-segment is anticipated to have the fastest market growth and generate a revenue of $19,451.8 million by 2030, growing from $12,040.6 million in 2021, at a healthy CAGR of 5.5% in the forecast period. This growth can be attributed to the growing demand for high accuracy in the aircraft navigation especially for armed forces aviation and commercial aviation sectors.
Based on application, the market has been divided into commercial aviation, military aviation, and business jets & general aviation. The commercial aviation sub-segment is anticipated to be the most dominating as well as fastest growing sub-segment.
Source: Research Dive Analysis
The commercial aviation sub-segment is anticipated to register a revenue of $60,068.3 in year 2030, growing with a healthy CAGR of 5.0% during the forecast period. The increasing number of passengers and cargo worldwide is expected to drive the growth in the commercial aviation sub-segment during the forecast period. In addition, The International Air Transport Association, headquartered in Montreal, Canada, predicts 8.2 million air travelers in 2037 in its "20-Year Air Passenger Forecast" published in 2018.
Based on distribution channel, the market has been divided into original equipment manufacturer (OEM) and aftermarket. Among the mentioned sub-segments, the OEM original equipment manufacturer sub-segment is estimated to acquire a dominant share, whereas the aftermarket sub-segment is projected to garner the fastest growth during the analysis timeframe.
Source: Research Dive Analysis
The original equipment manufacturer (OEM) sub-segment is anticipated to have a dominating share in the global market and surpass $63,139.4 million by 2030, with an increase from $42,925.4 million in 2021. Rapid growth anticipated across the major aviation sectors, such as military aviation, commercial aviation, and general aviation, will drive the original equipment manufacturer (OEM) sub-segment growth. The key aerospace original equipment manufacturers, such as Boeing and Airbus S.A.S. anticipate a large number of commercial aircraft orders. Additionally, in 2021, Boeing and Airbus, the leading aerospace companies, together delivered 951 aircrafts compared to 723 aircrafts in 2020. These factors are anticipated to boost the growth of the OEM sub-segment during the forecast period.
The aftermarket sub-segment of the global aerospace avionics market is estimated to show the fastest growth and register a revenue of $47,466.1 million during the forecast period, growing at a healthy CAGR of 4.8%. The growing need for upgrading existing avionics systems in military and commercial aviation which includes upgradation of tactical systems, collision avoidance systems, engine health monitoring, flight management systems, weather systems, and others is estimated to boost the growth of the aftermarket sub-segment. While the pandemic has had an impact on the aerospace and defense industry, continued technological developments in 2021 are expected to drive excellent opportunities in the aftermarket sub-segment of aerospace avionics system.
The aerospace avionics market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Asia-Pacific aerospace avionics market generated $17,159.0 million in 2021 and is projected to register a revenue of $28,702.1 million by 2030. Commercial aviation expansion and a surge in military aviation modernization programmes by countries such as China, India, and Japan are expected to aid the growth of the Asia-Pacific aerospace avionics market. According to the International Air Transport Association's (IATA) 20-Year Air Passenger Forecast report, Asia-Pacific will see an additional growth of 1,836 million passengers, with China being the leader, adding 817 million new passengers by 2035. The significant increase in air passenger numbers is expected to boost demand for air travel as well as the number of aerospace avionics equipment manufacturers in the Asia-Pacific commercial aviation market.
Source: Research Dive Analysis
Some of the leading aerospace avionics market players are NORTHROP GRUMMAN CORPORATION, L3Harris Technologies, Inc., General Dynamics Corporation, BAE Systems, Thales Group, Leonardo S.P.A, Elbit Systems Ltd., Airbus, General Electric, and Boeing.
| Aspect | Particulars |
| Historical Market Estimations | 2020-2021 |
| Base Year for Market Estimation | 2021 |
| Forecast Timeline for Market Projection | 2022-2030 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Systems |
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| Segmentation by Application |
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| Segmentation by Distribution Channel |
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| Key Companies Profiled |
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1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation
1.5.1.Top-down approach
1.5.2.Bottom-up approach
2.Report Scope
2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on Global aerospace avionics market
3.Executive Summary
4.Market Overview
4.1.Introduction
4.2.Growth impact forces
4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities
4.3.Market value chain analysis
4.3.1.List of component providers
4.3.2.List of service providers
4.4.Innovation & sustainability matrices
4.4.1.Technology matrix
4.4.2.Regulatory matrix
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.6.PESTLE analysis
4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental
4.7.Impact of COVID-19 on aerospace avionics market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Aerospace Avionics Market Analysis, by Systems
5.1.Overview
5.2.Flight Control System
5.2.1.Definition, key trends, growth factors, and opportunities
5.2.2.Market size analysis, by region
5.2.3.Market share analysis, by country
5.3.Communication System
5.3.1.Definition, key trends, growth factors, and opportunities
5.3.2.Market size analysis, by region
5.3.3.Market share analysis, by country
5.4.Navigation System
5.4.1.Definition, key trends, growth factors, and opportunities
5.4.2.Market size analysis, by region
5.4.3.Market share analysis, by country
5.5.Monitoring System
5.5.1.Definition, key trends, growth factors, and opportunities
5.5.2.Market size analysis, by region
5.5.3.Market share analysis, by country
5.6.Research Dive Exclusive Insights
5.6.1.Market attractiveness
5.6.2.Competition heatmap
6.Aerospace avionics Market Analysis, by Application
6.1.Commercial Aviation
6.1.1.Definition, key trends, growth factors, and opportunities
6.1.2.Market size analysis, by region
6.1.3.Market share analysis, by country
6.2.Military Aviation
6.2.1.Definition, key trends, growth factors, and opportunities
6.2.2.Market size analysis, by region
6.2.3.Market share analysis, by country
6.3.Business Jet and General Aviation
6.3.1.Definition, key trends, growth factors, and opportunities
6.3.2.Market size analysis, by region
6.3.3.Market share analysis, by country
6.4.Research Dive Exclusive Insights
6.4.1.Market attractiveness
6.4.2.Competition heatmap
7.Aerospace Avionics Market Analysis, by Distribution Channel
7.1.Overview
7.2.OEM
7.2.1.Definition, key trends, growth factors, and opportunities
7.2.2.Market size analysis, by region
7.2.3.Market share analysis, by country
7.3.Aftermarket
7.3.1.Definition, key trends, growth factors, and opportunities
7.3.2.Market size analysis, by region
7.3.3.Market share analysis, by country
7.4.Research Dive Exclusive Insights
7.4.1.Market attractiveness
7.4.2.Competition heatmap
8.Aerospace avionics Market, by Region
8.1.North America
8.1.1.U.S.
8.1.1.1.Market size analysis, by Systems
8.1.1.2.Market size analysis, by Application
8.1.1.3.Market size analysis, by Distribution Channel
8.1.2.Canada
8.1.2.1.Market size analysis, by Systems
8.1.2.2.Market size analysis, by Application
8.1.2.3.Market size analysis, by Distribution Channel
8.1.3.Mexico
8.1.3.1.Market size analysis, by Systems
8.1.3.2.Market size analysis, by Application
8.1.3.3.Market size analysis, by Distribution Channel
8.1.4.Research Dive Exclusive Insights
8.1.4.1.Market attractiveness
8.1.4.2.Competition heatmap
8.2.Europe
8.2.1.Germany
8.2.1.1.Market size analysis, by Systems
8.2.1.2.Market size analysis, by Application
8.2.1.3.Market size analysis, by Distribution Channel
8.2.2.UK
8.2.2.1.Market size analysis, by Systems
8.2.2.2.Market size analysis, by Application
8.2.2.3.Market size analysis, by Distribution Channel
8.2.3.France
8.2.3.1.Market size analysis, by Systems
8.2.3.2.Market size analysis, by Application
8.2.3.3.Market size analysis, by Distribution Channel
8.2.4.Spain
8.2.4.1.Market size analysis, by Systems
8.2.4.2.Market size analysis, by Application
8.2.4.3.Market size analysis, by Distribution Channel
8.2.5.Italy
8.2.5.1.Market size analysis, by Systems
8.2.5.2.Market size analysis, by Application
8.2.5.3.Market size analysis, by Distribution Channel
8.2.6.Rest of Europe
8.2.6.1.Market size analysis, by Systems
8.2.6.2.Market size analysis, by Application
8.2.6.3.Market size analysis, by Distribution Channel
8.2.7.Research Dive Exclusive Insights
8.2.7.1.Market attractiveness
8.2.7.2.Competition heatmap
8.3.Asia Pacific
8.3.1.China
8.3.1.1.Market size analysis, by Systems
8.3.1.2.Market size analysis, by Application
8.3.1.3.Market size analysis, by Distribution Channel
8.3.2.Japan
8.3.2.1.Market size analysis, by Systems
8.3.2.2.Market size analysis, by Application
8.3.2.3.Market size analysis, by Distribution Channel
8.3.3.India
8.3.3.1.Market size analysis, by Systems
8.3.3.2.Market size analysis, by Application
8.3.3.3.Market size analysis, by Distribution Channel
8.3.4.Australia
8.3.4.1.Market size analysis, by Systems
8.3.4.2.Market size analysis, by Application
8.3.4.3.Market size analysis, by Distribution Channel
8.3.5.South Korea
8.3.5.1.Market size analysis, by Systems
8.3.5.2.Market size analysis, by Application
8.3.5.3.Market size analysis, by Distribution Channel
8.3.6.Rest of Asia Pacific
8.3.6.1.Market size analysis, by Systems
8.3.6.2.Market size analysis, by Application
8.3.6.3.Market size analysis, by Distribution Channel
8.3.7.Research Dive Exclusive Insights
8.3.7.1.Market attractiveness
8.3.7.2.Competition heatmap
8.4.LAMEA
8.4.1.Brazil
8.4.1.1.Market size analysis, by Systems
8.4.1.2.Market size analysis, by Application
8.4.1.3.Market size analysis, by Distribution Channel
8.4.2.Saudi Arabia
8.4.2.1.Market size analysis, by Systems
8.4.2.2.Market size analysis, by Application
8.4.2.3.Market size analysis, by Distribution Channel
8.4.3.UAE
8.4.3.1.Market size analysis, by Systems
8.4.3.2.Market size analysis, by Application
8.4.3.3.Market size analysis, by Distribution Channel
8.4.4.South Africa
8.4.4.1.Market size analysis, by Systems
8.4.4.2.Market size analysis, by Application
8.4.4.3.Market size analysis, by Distribution Channel
8.4.5.Rest of LAMEA
8.4.5.1.Market size analysis, by Systems
8.4.5.2.Market size analysis, by Application
8.4.5.3.Market size analysis, by Distribution Channel
8.4.6.Research Dive Exclusive Insights
8.4.6.1.Market attractiveness
8.4.6.2.Competition heatmap
9.Competitive Landscape
9.1.Top winning strategies, 2021
9.1.1.By strategy
9.1.2.By year
9.2.Strategic overview
9.3.Market share analysis, 2021
10.Company Profiles
10.1.NORTHROP GRUMMAN CORPORATION
10.1.1.Overview
10.1.2.Business segments
10.1.3.Product portfolio
10.1.4.Financial performance
10.1.5.Recent developments
10.1.6.SWOT analysis
10.2.L3Harris Technologies, Inc.
10.2.1.Overview
10.2.2.Business segments
10.2.3.Product portfolio
10.2.4.Financial performance
10.2.5.Recent developments
10.2.6.SWOT analysis
10.3.General Dynamics Corporation
10.3.1.Overview
10.3.2.Business segments
10.3.3.Product portfolio
10.3.4.Financial performance
10.3.5.Recent developments
10.3.6.SWOT analysis
10.4.BAE Systems
10.4.1.Overview
10.4.2.Business segments
10.4.3.Product portfolio
10.4.4.Financial performance
10.4.5.Recent developments
10.4.6.SWOT analysis
10.5.Thales Group
10.5.1.Overview
10.5.2.Business segments
10.5.3.Product portfolio
10.5.4.Financial performance
10.5.5.Recent developments
10.5.6.SWOT analysis
10.6.Leonardo S.P.A
10.6.1.Overview
10.6.2.Business segments
10.6.3.Product portfolio
10.6.4.Financial performance
10.6.5.Recent developments
10.6.6.SWOT analysis
10.7.Elbit Systems Ltd.
10.7.1.Overview
10.7.2.Business segments
10.7.3.Product portfolio
10.7.4.Financial performance
10.7.5.Recent developments
10.7.6.SWOT analysis
10.8.Airbus
10.8.1.Overview
10.8.2.Business segments
10.8.3.Product portfolio
10.8.4.Financial performance
10.8.5.Recent developments
10.8.6.SWOT analysis
10.9.General Electric
10.9.1.Overview
10.9.2.Business segments
10.9.3.Product portfolio
10.9.4.Financial performance
10.9.5.Recent developments
10.9.6.SWOT analysis
10.10.Boeing
10.10.1.Overview
10.10.2.Business segments
10.10.3.Product portfolio
10.10.4.Financial performance
10.10.5.Recent developments
10.10.6.SWOT analysis
11.Appendix
11.1.Parent & peer market analysis
11.2.Premium insights from industry experts
11.3.Related reports
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