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 Aerospace Avionics Global Market Report 2024 offers crucial insights into the aerospace avionics market help businesses analyse and build stronger strategies.

The aerospace avionics market has experienced steady growth in recent years, propelled by advancements in aircraft technology, rising demand for air travel, and a focus on safety and efficiency.

Current Market Overview: Tracking Growth Trajectories

• From $79.41 billion in 2023, the aerospace avionics market is projected to reach $83.06 billion in 2024, boasting a compound annual growth rate (CAGR) of 4.6%.
• Factors contributing to this growth include military sector demand, safety enhancements, and the transition to digital cockpits.

Future Projections: Anticipating Continued Expansion

• The market is forecasted to grow to $99.9 billion by 2028, with a CAGR of 4.7%.
• Drivers of growth include emerging market expansion, defense sector growth, and the modernization of legacy aircraft.

Emerging Trends: A Look into the Future

• Advanced flight management systems
• Rising demand for next-generation aircraft
• Autonomous systems and UAVs
• Digital cockpit innovations
• Communication and connectivity enhancements

Aerospace Avionics Market Surges Amidst Soaring Demand for Air Travel
The rising demand for air travel fuels market growth:

• International air traffic surged by 229.5% in 2022 compared to 2021, as reported by the International Air Transport Association.
• Major players in the aerospace avionics market include Thales Group, Airbus SAS, and Boeing Co.

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Innovative Product Developments Propel Aerospace Avionics Market Growth
Product innovations drive market dynamics:

• Flightcell International introduced the cockpit recording solution ”SmartHUB,” offering HD video and audio, USB, and IP device access.
• Joby Aviation’s acquisition of Avionyx aims to strengthen its aerospace portfolio and accelerate aerospace software certification.

Market Segmentation: Understanding the Landscape
The aerospace avionics market is segmented based on various parameters:

1. By Systems: Flight Control System, Communication System, Navigation System, Monitoring System, and Others Systems
2. By Application: Commercial Aviation, Military Aviation, Business Jets and General Aviation
3. By Distribution Channel: OEM, Aftermarket

Regional Insights: Mapping Market Growth

• North America led the aerospace avionics market in 2023, with Asia-Pacific expected to emerge as the fastest-growing region in the forecast period.

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The Aerospace Avionics Global Market Report 2024  provides a comprehensive outlook of the aerospace avionics market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The aerospace avionics market forecast offers a thorough analysis on aerospace avionics market size, aerospace avionics market share, prominent players and their strategies.

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

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