6 May 2025, 11:52 AM
The global avionics market was valued at USD 91.32 billion in 2023 and is expected to grow
from USD 99.33 billion in 2024 to USD 179.44 billion by 2032, reflecting a CAGR of 7.67%
during the forecast period. In 2023, North America led the market, holding a 37.25% share.
Fortune Business Insights™ provides this information in its research report, titled “Avionics
Market, 2024-2032”.
The avionics market is experiencing significant growth, driven by advancements in technology and increasing demand for more efficient and safer aviation systems. As airlines and manufacturers focus on modernizing fleets, innovations such as integrated flight management systems, enhanced navigation capabilities, and advanced communication technologies are becoming essential. The shift towards automation and the rise of unmanned aerial vehicles (UAVs) further fuel market expansion. Environmental concerns are also pushing for greener avionics solutions, leading to the development of eco-friendly technologies. With the continuous evolution of air travel, the avionics sector is poised to play a crucial role in shaping the future of the aerospace industry.
List of Key Players Mentioned in the Avionics Market Report:
· BAE Systems PLC (U.K.)
· Cobham PLC (U.K.)
· Raytheon Technologies Corporation (U.S.)
· Garmin Ltd. (U.S.)
· General Electric Company (U.S.)
· Honeywell International Inc. (U.S.)
· L3Harris Technologies Inc.(U.S.)
· Meggitt Ltd. (U.K.)
· Safran S.A. (France)
· Teledyne Technologies Incorporated. (U.S.)
· Thales Group (France)
· Transdigm Group Inc. (U.S.)
Information Source:
https://www.fortunebusinessinsights.com/...ket-101819
Segmentation:
Hardware Segment to Exhibit Substantial Growth Due to Trajectory Projection Capabilities
On the basis of system, the market is fragmented into software and hardware. The hardware
segment is poised to expand at a considerable CAGR over the projected period. The segment
held a leading share in the market in 2022 impelled by the multitasking capability of the
system.
Commercial Segment to Gain Traction Considering the Rising Product Demand
By platform, the market is categorized into helicopters, general aviation, business jets,
military, and commercial. The commercial segment accounted for a large market share and is
estimated to record a substantial CAGR over the study period. The expansion is driven by the
soaring demand for commercial aircraft.
Aftermarket Segment to Lead Impelled by Increase in Aircraft Upgradation Opportunities
By end-use, the market is segmented into aftermarket and original equipment manufacturers.
The aftermarket segment accounted for a key market share in 2022 and is set to expand at
an appreciable pace over the forecast period. The rise is driven by an increase in upgradation
programs from numerous commercial airlines.
Based on geography, the market for avionics is segregated into North America, Europe, Asia
Pacific, and Rest Of The World.
from USD 99.33 billion in 2024 to USD 179.44 billion by 2032, reflecting a CAGR of 7.67%
during the forecast period. In 2023, North America led the market, holding a 37.25% share.
Fortune Business Insights™ provides this information in its research report, titled “Avionics
Market, 2024-2032”.
The avionics market is experiencing significant growth, driven by advancements in technology and increasing demand for more efficient and safer aviation systems. As airlines and manufacturers focus on modernizing fleets, innovations such as integrated flight management systems, enhanced navigation capabilities, and advanced communication technologies are becoming essential. The shift towards automation and the rise of unmanned aerial vehicles (UAVs) further fuel market expansion. Environmental concerns are also pushing for greener avionics solutions, leading to the development of eco-friendly technologies. With the continuous evolution of air travel, the avionics sector is poised to play a crucial role in shaping the future of the aerospace industry.
List of Key Players Mentioned in the Avionics Market Report:
· BAE Systems PLC (U.K.)
· Cobham PLC (U.K.)
· Raytheon Technologies Corporation (U.S.)
· Garmin Ltd. (U.S.)
· General Electric Company (U.S.)
· Honeywell International Inc. (U.S.)
· L3Harris Technologies Inc.(U.S.)
· Meggitt Ltd. (U.K.)
· Safran S.A. (France)
· Teledyne Technologies Incorporated. (U.S.)
· Thales Group (France)
· Transdigm Group Inc. (U.S.)
Information Source:
https://www.fortunebusinessinsights.com/...ket-101819
Segmentation:
Hardware Segment to Exhibit Substantial Growth Due to Trajectory Projection Capabilities
On the basis of system, the market is fragmented into software and hardware. The hardware
segment is poised to expand at a considerable CAGR over the projected period. The segment
held a leading share in the market in 2022 impelled by the multitasking capability of the
system.
Commercial Segment to Gain Traction Considering the Rising Product Demand
By platform, the market is categorized into helicopters, general aviation, business jets,
military, and commercial. The commercial segment accounted for a large market share and is
estimated to record a substantial CAGR over the study period. The expansion is driven by the
soaring demand for commercial aircraft.
Aftermarket Segment to Lead Impelled by Increase in Aircraft Upgradation Opportunities
By end-use, the market is segmented into aftermarket and original equipment manufacturers.
The aftermarket segment accounted for a key market share in 2022 and is set to expand at
an appreciable pace over the forecast period. The rise is driven by an increase in upgradation
programs from numerous commercial airlines.
Based on geography, the market for avionics is segregated into North America, Europe, Asia
Pacific, and Rest Of The World.