The report „Avionics Market by Subsystem (CNS, FCS, FMS, IFE, Monitoring / Glass Cockpit System, Military & Tactical System, Electrical & Emergency System), Fit (Line-Fit, Retrofit), Platform (Commercial, Defense, UAV) and Region – Global Forecast to 2022 „ , The Avionics Market is projected to grow from USD 62.22 Billion in 2016 to USD 92.85 Billion by 2022, at a CAGR of 6.90% from 2016 to 2022 during the forecast period.
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The increasing number of aircraft deliveries, the rise in military aircraft, the growth of modernization of airspace, the growth of modernization of airspace and the growth of avionics are becoming increasingly important in the avionics market. In the coming years, the avionics market in communication, navigation & surveillance systems; flight control & management systems; mission / tactical systems; and electrical & emergency systems. Advancements are expected in avionics subsystems such as the enhanced vision system (EVS), automatic dependent surveillance broadcast (ADS-B), and automated flight control, and attitude heading reference system (AHRS).
The flight control & management system segment is projected to witness the highest growth during the forecast period
Based on subsystem, the flight control & management system segment of the avionics market is projected to witness the highest growth during the forecast period. The aircraft flight control systems can be classified as mechanical, hydro-mechanical, fly-by-wire, and fly-by-light. The current generation aircraft use the fly-by-wire (FBW) control systems which have significantly reduced the weight of aircraft and its maintenance costs. Flight management system (FMS) is one of the most fundamental components of an aircraft because it serves as the primary interface for the pilot and enables flight planning operations.
The retrofit segment is projected to witness the highest growth during the forecast period
Based on fit, the retrofit segment is projected to witness the highest growth during the forecast period. The growth in the retrofit segment is affected by the increase in the retrofit of business and general aviation avionics.
Asia-Pacific is projected to become the fastest-growing market for avionics during the forecast period
Asia-Pacific is projected to become the fastest-growing market for avionics during the forecast period. This growth can be attributed to the increase in the number of aircraft deliveries in this region.
Key players operating in the avionics market are Honeywell International Inc. (US), Rockwell Collins, Inc. (US), Esterline Technologies Corporation (US), Astronics Corporation (US), L-3 Communications Holding Inc. (US), Genesys Aerosystems (US), Aspen Avionics (US), Avidyne Corporation (US), and Garmin Ltd. (Switzerland).
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