The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Demand for new commercial aircraft is expected to drive innovation in avionics manufacturing, propelling the market during the forecast period.

The global avionics market is expected to grow from $72.51 billion in 2022 to $78.46 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The avionics market size is expected to grow to $99.87 billion in 2027 at a CAGR of 6.2%.

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Global Avionics Market Segments Include:

• By Platform: Commercial Aviation, Military Aviation, Business Jets, General Aviation, Helicopters
• By Sub System: Flight Management and Control, Health Monitoring, Electrical and Emergency, Communication Navigation and Surveillance
• By End User: Original Equipment Manufacturer (OEM), Aftermarket
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global avionics market in 2021.

Major Market Players in the avionics market include Safran S.A., Honeywell Aerospace, Thales Group, L-3 Avionics Systems, Raytheon Technologies, GE Aviation, BAE Systems plc, Meggitt plc, Rockwell Collins Inc.

Technological advancements have emerged as a key trend that is gaining traction in the avionics market. Major avionics companies are focusing on new innovations in order to strengthen their market position. For example, Genesys Aero Systems, a US-based manufacturer of flight systems, autopilot systems, and avionics components, launched HeliSAS, a helicopter autopilot system, in March 2022. This new system regulates airspeed and allows the pilot to perform cockpit tasks while remaining hands-free. This is based on stability augmentation technology, which can effectively control the helicopter through the use of sensors such as magnetometers.

The Avionics Global Market Report 2023 provides a avionics market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The avionics market forecast analyzes avionics market size, avionics market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Avionics is a term that refers to a collection of multiple display units that are installed in aircraft to perform flight operations. Avionics are used to communicate, navigate, and manage multiple systems in spacecraft, artificial satellites, and aircraft. The avionics system consists of several flight subsystems, such as health monitoring systems, flight management, flight control, navigation and surveillance systems, electrical & emergency, communication, and systems electronics.

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