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.
The Avionics Component Market experienced notable growth between 2018 and 2022, driven by the increasing demand for advanced aircraft systems, which saw both commercial and military aviation investing heavily in cutting-edge technologies. The rise of innovations such as autopilot systems, electronic flight instrumentation, and flight management systems fueled the need for sophisticated avionics components during these years. Moreover, the aviation industry's rapid evolution toward automation and digital cockpit designs contributed to this market's expansion, with manufacturers ramping up production to meet the demands of modern aircraft designs.
During this period, the global aviation industry's increasing focus on improving passenger safety, enhancing fuel efficiency, and reducing operational costs accelerated the adoption of avionics components. Companies in the sector responded by developing lighter, more efficient systems that provided better connectivity, navigation, and communication. The market saw a growing trend in integrated avionics systems, which consolidated multiple functionalities into one compact unit, offering airlines cost savings in both equipment and maintenance.
Looking ahead to the period from 2023 to 2033, the demand for avionics components is expected to continue growing at a steady pace, with several key trends influencing this trajectory. One such trend is the rapid expansion of urban air mobility (UAM) systems and the increasing use of drones in commercial and military sectors. The increasing adoption of electric vertical take-off and landing (eVTOL) aircraft will require innovative avionics solutions tailored to the unique needs of these vehicles. As demand for these technologies escalates, avionics components will need to evolve to support new operational requirements, such as improved navigation systems, communications networks, and power management systems for electric aircraft.
The integration of artificial intelligence (AI) and machine learning (ML) into avionics systems is also set to revolutionize the industry, enabling more precise decision-making and optimizing flight operations. AI-driven avionics will enhance predictive maintenance, reducing downtime and enhancing the safety and efficiency of aircraft. Furthermore, the global push for sustainability and the development of green aviation technologies will necessitate the development of avionics components that are more energy-efficient and environmentally friendly.
The market will also see an increased focus on cybersecurity for avionics systems. As more aircraft become connected to global networks, the risk of cyber threats grows, prompting manufacturers to integrate advanced security features into their components. This shift towards secure avionics solutions will be critical to protecting sensitive flight data and ensuring the safety of both passengers and crew.
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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.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Avionics Component Market
Commercial Use
Military Use
Based on Types the Market is categorized into Below types that held the largest Avionics Component market share In 2023.
Flight Control Component
Flight Management Component
Health Monitoring Component
Others
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)
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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
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