New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Avionics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027" - https://www.reportlinker.com/p06313393/?utm_source=GNW
The aviation industry is rapidly developing owing to the drop in air ticket fares, growing economies, and the emergence of low-cost commercial airlines.
The continuous growth of the aviation industry and the adoption of advanced technologies and equipment during the manufacturing process are expected to drive the demand for the global avionics market. Also, the surge in demand for military aircraft in emerging economies to strengthen the defense system and the need to enhance the computing capabilities of aircraft are further expected to fuel the growth of the global avionics market in the next five years.
High Demand for Military Aircraft Drives the Market Growth
Leading authorities of different economies are allocating huge funds for the defense sector of their respective country to protect the lives of citizens at the time of combat and provide additional air support at the borders.Military aircraft are widely popular as they are used for offensive and defensive purposes.
In the offensive role, the military aircraft is used to destroy airstrips, enemy sites, and ordnance depots and suppliers, while in the defensive role, they provide close air support to the land-based army and help prevent the threats of energy air attack.The military aircraft market players are working to integrate additional features in the aircraft, such as multi-spectral threat warning capability, improved tracking features, and 3D maps to generate high-resolution real-time maps.
The massive demand for military aircraft among countries and the launch of better-performing technologically advanced is expected to boost the growth of the global avionics market over the next five years.
Adoption of Advanced Technologies Supports the High Market Demand
The market players are investing heavy amounts in research and development activities to upgrade the existing infrastructure and find new innovative solutions to boost the overall system’s performance.The advent of the next-generation integrated avionics system, which lowers the electronic control unit cost and improves aircraft performance, is gaining customer attraction across the globe.
It offers several advantages over the traditional system, such as better air traffic management, situational awareness, and communication capabilities of the aircraft system.The next-generation integrated avionics system combines technologies such as next-generation data communication, automatic dependent surveillance-broadcast, system-wide information management, and next-generation network-enabled weather.
Ongoing technological advancements and the launch of novel system is expected to create significant growth opportunities for the global avionics market over the next five years.
Market Segmentation
The global avionics market is segmented into the system, platform, end user, regional distribution, and competitive landscape.Based on the system, the market is divided into hardware and software.
Based on the platform, the market is divided into commercial, military, business jets & general aviation, and helicopters.Based on the end user, the market is bifurcated into OEM and aftermarket.
The global avionics market is studied in major regions, namely North America, Asia-pacific, Europe & CIS, South America, Middle East, and Africa, to analyze the market based on the region. In terms of country, the United States is anticipated to be a lucrative market for the global avionics market owing to the early adoption of advanced technologies in the manufacturing process and the presence of major market players in the country.
Market Players
Safran S.A., Meggitt plc, GE Aviation, The Curtiss-Wright Corporation, Thales Group, Honeywell International, Collins Aerospace, BAE Systems PLC, Gramin Ltd., Avilution LLC, are the major market players operating in the global avionics market.
Report Scope:
In this report, global avionics market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Avionics Market, By System:
o Hardware
o Software
• Avionics Market, By Platform:
o Commercial
o Military
o Business Jets & General Aviation
o Helicopters
• Avionics Market, By End User:
o OEM
o Aftermarket
• Avionics Market, By Region:
o North America
United States
Canada
Mexico
o Asia-Pacific
China
India
Japan
Thailand
Indonesia
Australia
South Korea
o Europe & CIS
Germany
France
United Kingdom
Spain
Italy
Netherlands
Russia
Poland
o South America
Brazil
Argentina
o Middle East & Africa
Saudi Arabia
Iran
Israel
UAE
Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global avionics market.
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06313393/?utm_source=GNW
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