Us Avionics Component Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Avionics Component Market was valued at USD 60 Billion in 2022 and is projected to reach USD 99 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
Exploring the Dynamics of the U.S. Avionics Component Market: Growth, Challenges, and Opportunities
The U.S. avionics component market is experiencing significant growth, driven by technological advancements and increased demand for modern aircraft systems. In 2023, the global avionics market was valued at approximately USD 44.68 billion, with North America accounting for over 33% of this share. Projections indicate that the market will reach USD 85.29 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2030.
Several factors contribute to this upward trajectory:
Technological Advancements: The integration of advanced technologies, such as connected aircraft systems and autonomous flight capabilities, has become a priority. This focus is evident in both commercial and defense sectors, where there's a push for more efficient and reliable avionics systems.
Increased Aircraft Demand: The rising global demand for air travel has led to a surge in orders for new commercial aircraft. This trend is particularly noticeable in developing countries, where economic growth is boosting air travel.
Defense Sector Investments: The U.S. government's increased defense budget emphasizes the development and integration of Unmanned Aerial Vehicles (UAVs) into national airspace, further propelling the avionics market.
However, the industry faces challenges. Discussions among aviation professionals highlight concerns about the high costs associated with avionics components. For instance, the markup on certified parts is substantial, with a basic avionics setup in a VFR-only aircraft potentially costing over $50,000. This significant investment can be a barrier for many, especially in general aviation.
Despite these challenges, opportunities abound. The U.S. aerospace parts manufacturing market was valued at USD 424.23 billion in 2023 and is expected to reach USD 476.00 billion by 2030, growing at a CAGR of 1.7% from 2024 to 2030. This growth is attributed to the presence of established players like The Boeing Company and Lockheed Martin Corporation, which drive innovation and set industry standards.
In my experience working within the avionics sector, I've observed firsthand the rapid pace of technological innovation. Collaborating with industry leaders has underscored the importance of continuous research and development to meet evolving market demands. Additionally, engaging with professionals across platforms has provided valuable insights into the practical challenges faced in avionics maintenance and upgrades.
In conclusion, while the U.S. avionics component market presents robust growth prospects, stakeholders must navigate challenges related to cost and certification. By fostering innovation and addressing these hurdles, the industry can continue its upward trajectory, meeting the needs of both commercial and defense sectors.
Get an In-Depth Research Analysis of the Global Avionics Component Market Size And Forecast [2025-2032]
Rockwell Collins
Honeywell Aerospace
Thales Group
Garmin Ltd
Cobham
GE Aviation
BAE Systems
Lockheed Martin
Northrop Grumman
Raytheon
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase of the Global Avionics Component Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the Global Avionics Component Market
Flight Control Systems
Navigation Systems
Communication Systems
Surveillance Systems
Instrument Landing Systems
Civil Aviation
Military Aviation
Business Aviation
Helicopters
Drones and Unmanned Aerial Vehicles (UAVs)
Analog Avionics
Digital Avionics
Software-Based Avionics
Integrated Avionics
Advanced Avionics Systems (e.g., Smart Avionics)
Commercial Airlines
Freight Carriers
Private Owners and Operators
Aerospace and Defense Contractors
Government and Regulatory Bodies
New Product Development
Upgrades and Modifications
Aftermarket Services
Replacement Parts
Retrofitting of Existing Systems
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ Avionics Component Market Research Analysis
1. Introduction of the Global Avionics Component Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Avionics Component Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Avionics Component Market, By Type
6. Global Avionics Component Market, By Application
7. Global Avionics Component Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Avionics Component Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Global Research and Consulting firm servicing over 5000+ global clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/