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

The global commercial aircraft NextGen avionics market has witnessed a significant surge, ascending from $2.63 billion in 2022 to $2.85 billion in 2023, boasting an impressive Compound Annual Growth Rate (CAGR) of 8.4%. The trajectory is set to continue, with forecasts projecting a market size of $3.96 billion by 2027, sustaining a robust CAGR of 8.6%.

• Striking Growth Figures:
  • 8.4% CAGR elevates the market from $2.63 billion to $2.85 billion in 2023.
  • Anticipated growth to $3.96 billion by 2027 at a compelling CAGR of 8.6%.

Flying High: Surge in Air Passenger Traffic Driving Market Growth

The exponential rise in air passenger traffic globally emerges as a key catalyst propelling the commercial aircraft NextGen avionics market forward. As air travel continues to surge, effective management of air traffic becomes crucial. NextGen avionics play a pivotal role by proactively identifying and resolving weather and other hazards, enhancing overall air traffic control and pilot capabilities.

• Impact of Air Passenger Traffic:
  • Global air passenger traffic surges, necessitating effective air traffic management.
  • Commercial aircraft NextGen avionics enable proactive identification and resolution of hazards.
  • ICAO reports a 65% increase in air travelers and a 30% rise in aircraft departures between January and April 2022.

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Industry Titans: Leading Players Shaping the Market

Major players in the commercial aircraft NextGen avionics market, including Cobham Limited, Honeywell International Inc., and Thales Group, play pivotal roles in steering industry dynamics, fostering innovation, and contributing to market growth.

• Key Market Players:
  • Cobham Limited, Honeywell International Inc., Thales Group, Raytheon Technologies Corporation, and others.
  • Strategic roles of industry giants are instrumental in advancing the commercial aircraft NextGen avionics market.

Technological Marvels: Advancements Fueling Progress

Technological advancement stands out as a key trend gaining prominence in the commercial aircraft NextGen avionics market. Market leaders are leveraging new technologies to sustain and advance their positions, enhancing the capabilities and efficiency of avionic systems.

• Technological Advancements:
  • Panasonic Avionics Corporation launches a new Ku-band antenna with ThinKom’s VICTS technology.
  • Features include gate-to-gate operations, increased speed throughput, and support for both LEO and GEO satellite networks.
  • Lower operational costs and improved aerodynamic efficiency contribute to the appeal of advanced avionic systems.

Segmentation Insights: A Diverse Landscape Unveiled

The commercial aircraft NextGen avionics market unfolds a diverse landscape, segmented by systems, installation stage, and end-user applications, reflecting the multifaceted nature of avionic solutions catering to different needs within the aviation industry.

• Segmentation Overview:
  • By Systems:
    • Flight Management System
    • Communication System
    • Electric and Navigation System
    • Surveillance and Emergency System
    • Collision Avoidance System
    • Weather System
    • Others Systems
  • By Installation Stage:
    • Forward Fit
    • Retrofit
  • By End User:
    • Regional
    • Narrow Body
    • Wide Body

Regional Dynamics: Asia-Pacific Takes the Lead, North America on the Horizon

In 2022, Asia-Pacific asserted its dominance as the largest region in the commercial aircraft NextGen avionics market. Moving forward, North America is anticipated to be the fastest-growing region, indicating a dynamic shift in global market dynamics.

• Regional Influence:
  • Asia-Pacific claims the largest market share in 2022, marking its prominence.
  • North America is forecasted to be the fastest-growing region, showcasing dynamic market trends.

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The Commercial Aircraft Nextgen Avionics Global Market Report 2023  provides an overview of the commercial aircraft nextgen avionics market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The commercial aircraft nextgen avionics market forecast analyzes commercial aircraft nextgen avionics market size, commercial aircraft nextgen avionics market share, leading competitor and their market positions.

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