The global commercial avionics systems market size was US$ 34.65 billion in 2021. The global commercial avionics systems market size is forecast to reach US$ 55.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.32% during the forecast period from 2022 to 2030.
Health monitoring systems, flight management, flight control, navigation and surveillance systems, electrical and emergency systems, communication, and systems electronics are all part of a commercial avionics system. It also includes self-contained computer control components or electronic devices that receive input from engine controls or flight control surfaces and output to flight management systems. From pre-engine start or take-off to engine shut-down or landing, flight management systems use multi-purpose performance, navigation, and aircraft operations computers to offer virtual information and operating synergy among closed and open flights components.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic caused governments worldwide to implement a strict lockdown, which resulted in a ban on the import/export of raw materials. This lowered the availability of important raw materials required for commercial avionics systems. A nationwide lockdown forced some drone manufacturers to close their operations. In addition, the COVID-19 pandemic impacted activities and initiatives regarding the development of modern commercial aviation systems worldwide. Thus, the COVID-19 pandemic has negatively impacted global market growth.
Regional Insights
North America held dominance in the market in 2021. The aerospace industry in the region is growing, with a strong support system based on a robust aviation base. The increase in air traffic has prompted regional and international airlines in the region to procure several aircraft. Boeing is one of the major aircraft OEMs based in the United States, generating a large demand for avionics systems. A range of factors, including the availability of raw materials, political stability, and low production costs, have contributed to the establishment of new aerospace manufacturing facilities in the region. In addition, changes in aviation fuel prices have started a rise in demand for fuel-efficient new-generation aircraft in the region.
Leading Competitors
The leading prominent companies profiled in the global commercial avionics system market are:
Scope of the Report
The global commercial avionics system market segmentation focuses on Aircraft Type, Sub System, Fit, and Region.
Segmentation based on Aircraft Type
Segmentation based on Sub System
Segmentation based on Fit
Segmentation based on Region