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 avionics systems market has experienced steady growth, expanding from $26.96 billion in 2022 to $27.77 billion in 2023, demonstrating a commendable compound annual growth rate (CAGR) of 3.0%. The market is poised for continuous advancement, with projections indicating growth to $32.03 billion in 2027, driven by a CAGR of 3.6%.

• Consistent Growth
  • From $26.96 billion in 2022 to $27.77 billion in 2023.
  • Anticipated growth to $32.03 billion in 2027 at a CAGR of 3.6%.

Soaring Passenger Numbers Propel Market

The anticipated increase in the number of airline passengers is a key driver propelling the growth of the commercial avionics systems market. Avionic systems, encompassing electronic systems on aircraft, facilitate crucial functions such as communications, navigation, and system display management. This enhancement contributes to the efficient functioning of aircraft, attracting more passengers.

• Role of Avionic Systems
  • Include communications, navigation, and system management.
  • Improve aircraft functioning, leading to increased passenger numbers.
• Global Air Passenger Recovery
  • According to the International Civil Aviation Organization (ICAO), global air passenger traffic is recovering in 2021 compared to 2020, impacted by the COVID pandemic.
  • Worldwide, 2.3 billion passengers in 2021, representing a 49% decline from pre-pandemic levels (2019), showcasing a significant recovery.

Industry Leaders at the Helm

Major players in the commercial avionics systems market play a pivotal role in steering its trajectory. Companies such as BAE Systems PLC, Honeywell International Inc., and Thales Group are key contributors to the market’s growth.

• Prominent Market Players
  • BAE Systems PLC
  • Honeywell International Inc.
  • Thales Group
  • General Electric
  • Raytheon Technologies Corporation
• Diverse Industry Presence
  • The market boasts a diverse range of players contributing to innovation and market competitiveness.

Next-Generation Flight Management Systems (NGFMS) on the Rise

The growing adoption of next-generation flight management systems (NGFMS) stands out as a key trend gaining popularity in the commercial avionics systems market. NGFMS offers a range of benefits, including improved fuel efficiency, reduced operating costs, decreased pilot workload, and enhanced safety. These systems play a crucial role in optimizing future air traffic management (ATM) functions.

• Benefits of NGFMS
  • Improved fuel efficiency.
  • Reduced operating costs and pilot workload.
  • Enhanced safety in the cockpit.
• Thales’ PureFlyt System
  • In July 2020, Thales launched PureFlyt, a flight management system designed to efficiently manage aircraft in the connected aerospace ecosystem and in increasingly congested skies.

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Market Segmentation for Precision Solutions

Understanding diverse consumer needs is crucial for market success. The commercial avionics systems market is segmented based on subsystems, fit, and aircraft types.

1. By Subsystem
   • Flight Management and Control
   • Health Monitoring
   • Electrical and Emergency
   • Communication Navigation and Surveillance
   • Other Subsystems
2. By Fit
   • Retrofit
   • Forward Fit
3. By Aircraft Type
   • Narrow Body
   • Wide Body
   • Regional and Business Jet
   • Freighter

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

Understanding regional dynamics provides insights into the global footprint of the commercial avionics systems market.

• North America’s Dominance
  • North America held the largest share in the commercial avionics systems market in 2022.
  • A region marked by technological advancements and substantial market presence.
• Asia-Pacific’s Growth Potential
  • Asia-Pacific is expected to be the fastest-growing region in the forecast period.
  • The region showcases immense potential for market expansion, driven by increasing air travel demands.

View More On The Commercial Avionics Systems Market Report 2023 – https://www.thebusinessresearchcompany.com/report/commercial-avionics-systems-global-market-report

The Commercial Avionics Systems Global Market Report 2023  provides comprehensive insights on the commercial avionics systems market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the commercial avionics systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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