The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

 

The Business Research Company’s Commercial Aircraft Nextgen Avionics Global Market Report 2024 offers crucial insights into the commercial aircraft nextgen avionics market help businesses analyse and build stronger strategies.

 

 

The commercial aircraft NextGen avionics market has experienced rapid growth, soaring from $3.08 billion in 2023 to an estimated $3.46 billion in 2024, with a remarkable compound annual growth rate (CAGR) of 12.0%. This surge is attributed to various factors, including increased air traffic, a boost in travel and tourism, population growth, rising disposable income, and the overall expansion of the aviation industry.

 

 

Historical Growth Drivers

1. Increased Air Traffic
   • Rising demand for air travel globally.
   • Growing need for efficient air traffic management.
2. Travel and Tourism Boom
   • Surge in global travel and tourism.
   • Increased frequency of air travel for leisure and business.
3. Population Growth
   • Expanding global population.
   • Higher demand for air transportation services.
4. Rising Disposable Income
   • Economic growth leading to increased disposable income.
   • Higher spending on air travel and aviation services.
5. Aviation Industry Expansion
   • Overall growth and expansion of the aviation sector.
   • Demand for advanced avionics solutions for modern aircraft.

 

 

Anticipated Rapid Growth

The commercial aircraft NextGen avionics market is poised for rapid growth in the coming years, projected to reach an impressive $5.37 billion by 2028, with a compound annual growth rate (CAGR) of 11.6%. This growth is fueled by emerging market demand, the adoption of fuel-efficient airframe designs, the utilization of sustainable aviation materials, the entry of new players into the market, and the growing need for commercial aircraft.

 

 

Forecasted Growth Drivers

1. Emerging Market Demand
   • Increasing demand for advanced avionics solutions.
   • Growing aviation markets in emerging economies.
2. Fuel-Efficient Airframe Designs
   • Adoption of airframes designed for fuel efficiency.
   • Focus on eco-friendly and cost-effective solutions.
3. Sustainable Aviation Materials
   • Shift towards sustainable and environmentally friendly materials.
   • Emphasis on reducing the environmental impact of aviation.
4. Market Entry of New Players
   • Entrance of new companies into the commercial avionics market.
   • Increased competition and innovation.

 

 

Emerging Trends

1. Digital Cockpit Modernization
   • Upgrade of cockpit systems with digital technologies.
   • Enhanced pilot interfaces and improved operational efficiency.
2. Advancements in Connectivity and Communication
   • Integration of advanced communication systems.
   • Improved connectivity for seamless data exchange.
3. Autonomous Flight Technologies
   • Development and implementation of autonomous flight capabilities.
   • Increased automation for safer and more efficient flights.
4. AI and Machine Learning
   • Integration of artificial intelligence (AI) and machine learning.
   • Smart systems for predictive maintenance and decision-making.
5. Advancements in Human-Machine Interface (HMI)
   • Evolution of user interfaces for improved pilot interaction.
   • Enhanced HMI for better control and monitoring.

 

 

Rising Air Passenger Traffic Fuels Market Growth

The surge in air passenger traffic globally is expected to be a major catalyst for the growth of the commercial aircraft NextGen avionics market. With a significant increase in both local and international passengers, efficient air traffic management becomes crucial. NextGen avionics solutions play a pivotal role in proactively identifying and resolving potential hazards, providing pilots and air traffic controllers with real-time information. Notably, between January and April 2022, air travel witnessed a 65% increase compared to the same period in 2021, highlighting the need for robust avionics systems.

 

 

Key Statistics

• 65% more air travelers between January and April 2022 compared to 2021.
• 30% increase in aircraft departures during the same period.

 

 

Innovations in Technology Transforming the Market

Technological advancements take center stage as a key trend in the commercial aircraft NextGen avionics market. Major players leverage new technologies to sustain their positions, and examples abound of innovative solutions enhancing the industry. For instance, Panasonic Avionics Corporation launched a next-generation Ku-band antenna with ThinKom’s VICTS technology, providing airlines with enhanced speed throughput, improved aerodynamic efficiency, and support for both low earth orbit (LEO) and geostationary orbit (GEO) satellite networks.

 

 

Key Innovation

• Panasonic Avionics’ next-gen Ku-band antenna with VICTS technology.

 

 

Collins Aerospace Elevates Technologies with FlightAware Acquisition

In a strategic move in November 2021, Collins Aerospace, a prominent aerospace and defense company, acquired FlightAware, a leader in global flight tracking solutions. This acquisition aligns Collins’ aviation technologies with FlightAware’s expertise in data networks, connectivity options, and data collection and analytics.

 

 

Acquisition Highlights

• Collins Aerospace acquires FlightAware for an undisclosed amount.
• Synergy of Collins’ aviation technologies with FlightAware’s data analytics.

 

 

Market Segmentation

The commercial aircraft NextGen avionics market is segmented based on systems, installation stage, and end-users.

Key Segments

1. Systems:
   • Flight Management System
   • Communication System
   • Electric and Navigation System
   • Surveillance and Emergency System
   • Collision Avoidance System
   • Weather System
   • Others Systems
2. Installation Stage:
   • Forward Fit
   • Retrofit
3. End User:
   • Regional
   • Narrow Body
   • Wide Body

 

 

Dominance in Asia-Pacific, with North America on the Horizon

Asia-Pacific emerged as the largest region in the commercial aircraft NextGen avionics market in 2023. However, North America is expected to be the fastest-growing region in the forecast period, signaling dynamic shift in market dynamics.

 

Get A Free Sample On The Global Commercial Aircraft Nextgen Avionics Market Report:
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Read The Full Commercial Aircraft Nextgen Avionics Market Report Here:

https://www.thebusinessresearchcompany.com/report/commercial-aircraft-nextgen-avionics-global-market-report

 

 

The Commercial Aircraft Nextgen Avionics Global Market Report 2024 provides a comprehensive outlook of the commercial aircraft nextgen avionics market for the historic years (2010 -2021) and ten years forecast (2023 – 2032).The commercial aircraft nextgen avionics market forecast offers a thorough analysis oncommercial aircraft nextgen avionicsmarket size, commercial aircraft nextgen avionics market share,prominent players and their strategies.

 

 

The Table Of Content For The Commercial Aircraft Nextgen Avionics Market Include:
1. Commercial Aircraft Nextgen Avionics Market Executive Summary
2. Commercial Aircraft Nextgen Avionics Market Segments
3. Commercial Aircraft Nextgen Avionics Market Size And Commercial Aircraft Nextgen Avionics Market Growth Rate
4. Key Commercial Aircraft Nextgen Avionics Market Trends
5. Major Commercial Aircraft Nextgen Avionics Market Drivers
……
25. Key Mergers And Acquisitions In The Commercial Aircraft Nextgen Avionics Market
26. Top Commercial Aircraft Nextgen Avionics Companies
27. Commercial Aircraft Nextgen Avionics Market Opportunities And Strategies
28. Commercial Aircraft Nextgen Avionics Market, Conclusions And Recommendations
29. Appendix

 

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