Report: Avionics Market Size To Reach $81.50 Billion By 2026 | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne Special Edition--06.14.21

Airborne-Unlimited-06.15.21

Airborne-UnManned-06.16.21

Airborne Unlimited-
06.17.21

Airborne Special Edition-06.11.21

ANN LIVE Coverage of AEA 2021 Starts Tuesday, 06.22, at 0830CT at www.airborne-live.net

Mon, Jan 13, 2020

Report: Avionics Market Size To Reach $81.50 Billion By 2026

Market To Witness Remarkable Growth On Account Of Adoption Of Internet Of Things

The global Avionics Market size is likely to gain impetus from the advent of IoT in the aviation industry worldwide. Fortune Business Insights, in their report titled, "Global Avionics Market Size, Share & Industry Analysis, By System (Hardware Systems (Flight Management System (FMS), Communication, Navigation, and Surveillance (CNS), Electrical System, Emergency System, Mission & Tactical System, Health Monitoring System, Inflight Entertainment System, Collision Avoidance System, Weather System) and Software Systems), Platform (Commercial, Military, Business Jets, General Aviation, and Helicopters), End-Use (OEM and Aftermarket), and Regional Forecast, 2019-2026," elaborately discusses the market and its major growth trajectories in details.

According to the current Avionics Market trends, the global Avionics Market size is projected to rise from $57.71 bBillion in 2018 to reach a value of $81.50 billion by 2026. The forecast period is set from 2019 to 2026, and the market is anticipated to rise at a Compound Annual Growth Rate (CAGR) of 7.86%.

The adoption of next-generation flight management system providing mission planning capabilities with improved air traffic management functionality and reduction in operation cost is a major factor promoting the Avionics Market growth. Additionally, the advancement of IoT in aviation technology, the rise in the number of up-gradation programs from leading OEMs, is further prognosticated to promote the Avionics Market growth in the coming years.

From a geographical perspective, North America is anticipated to hold the leading global Avionics Market share on account of the rising demand for aircraft for both commercial and defense purposes. Besides this, there is a surge in demand for advanced helicopters and fighter aircraft from the US defense sector will help to augment the regional Avionics Market size in the coming years. Furthermore, the presence of major manufacturers such as Honeywell, Esterline Technologies, and United Technologies Corporation, I further expected to help North America continue its dominance in the coming years as well. However, there is a huge decline in the aircraft market due to production cutting, especially in North America.  In 2019, Boeing have shut down the production of 737 max aircraft models, which has affected the overall demand for avionics systems in the region.

On the other side, Asia Pacific Avionics Market growth rate is likely to rise at a rapid pace during the forecast period on account of the increase in the number of passengers traveling by air, rise in disposable incomes of people and rapid urbanization especially in the developing nations such as China and India. Furthermore, the rise in investments made in the aviation sector from countries such as Australia, South Korea, Singapore, and others is likely to help this region attract high Avionics Market revenues at a rapid pace in the future.

Players are adopting strong strategies such as the adoption of IoT, geographical expansion, and others to gain a competitive edge in the market. Market vendors are also investing in research and development, joint development, long terms agreements and contracts, and other strategies to attract high Avionics Market revenue in the forecast period.

(Source: Fortune Business Insights news release. Image provided)

FMI: www.fortunebusinessinsights.com

Advertisement

More News

Airborne-Special Edition 05.21.21: Looking to AirVenture With Jack Pelton, Pt 2

Also: Following A Successful Sun n Fun, It's Time To Look Ahead To Oshkosh... Now that Sun and Fun is firmly in the rearview mirror, and it’s massive crowds showed how succes>[...]

Airborne-Special Edition 05.20.21: Looking to AirVenture With Jack Pelton, Pt 1

Also: Following A Successful Sun n Fun, It's Time To Look Ahead To Oshkosh... Now that Sun and Fun is firmly in the rearview mirror, and it’s massive crowds showed how succes>[...]

Airborne 06.09.21: Bezos To Launch, Stupid Pilot Trick, UAV Aerial Refueling

Also: 1st Black Aviatrix, Rescue Helicopter on SAF, Runway Safety Town Hall, S-TEC 3100 Jeff Bezos' Instagram post says it all... "Ever since I was five years old, I’ve dream>[...]

Aero-News: Quote of the Day (06.15.21)

"The Special Olympics Airlift is an incredible opportunity for the aviation community to give athletes from across the country a memorable experience while getting to the Games. Te>[...]

ANN's Daily Aero-Term (06.15.21): Local Airport Advisory (LAA)

Local Airport Advisory (LAA) A service available only in Alaska and provided by facilities that are located on the landing airport, have a discrete ground-to-air communication freq>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2021 Web Development & Design by Pauli Systems, LC