Avionics Market worth 9.26% CAGR by 2026
" COVID-19 Impact on Avionics market, size, share, growth, industry analysis, and forecast 2020-2026 "
Avionics is the most significant component of aircraft, spacecraft, and other systems located in the cockpit of a flight. The avionics assists by offering several operational and virtual information in-flight and on the ground. The avionics system receives information from the air traffic management system and transmits the information to the pilot to select an approach path to the destination.
The increase in global air traffic due to the rising business and leisure in the number of countries worldwide is enhancing commercial avionics systems, eventually driving the avionics market. The avionics market's growth is also driven and influenced by the following factors: the rising number of orders and deliveries of aircraft from developing economies, increasing popularity of integrated modular avionics, increasing requirement for real-time data, growing implementation of modern systems for next-generation aircraft. The avionics provide various benefits for the aircraft's safety, such as assisting in finding routes by displaying images and providing significant fuel-saving benefits.
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Furthermore, the increasing demand for military aircraft from developing countries is providing opportunities for the market players. The increasing utilization of advanced navigation and surveillance technologies for avionics generates lucrative opportunities for market growth.
The Avionics Market research report titled “Avionics Market based on System, Platform, and Geography – Global Forecast up to 2026.”
The key market companies include Garmin Ltd, Honeywell International Inc., Cobham Defense Communications, United Technologies Corporations, and General Electric Company.
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North America is commanding the market share because of increasing commercial flight usage in this region. Also, the existence of key players and the increasing deployment of technically advanced systems to enhance aircraft safety and utility are other factors supporting the growth of the target market.
The report consists of 91 Tables and 58 charts depicting the in-depth market study and the impact analysis of COVID-19. View detailed TOC here.
Avionics Market on the basis of System
- Training & Simulation Software
- Flight Management Software
- Safety-Critical Airborne Software
- Aircraft Health Diagnostic Software
- Mission Flight Management Software
- Weather System
- In-flight Entertainment System
- Health Monitoring System
- Mission & Tactical System
- Surveillance System
- Emergency System
- Electrical System
- Navigation System
- Communication System
- Flight Management System
Avionics Market on the basis of Platform
- Commercial Aviation
- Military Aviation
- Business Jets & General Aviation
Avionics Market on the basis of Geography
- North America
- Asia Pacific
- Rest of the World