Avionics Systems Market Growth and Key Players Analysis 2025

1. Avionics System Market thrives with the rising call for retrofit aircraft The market of Avionics System is expected to increase by 2025, projecting a compound annual growth of 4.86% during the forecast period of 2020 to 2025. Upgradation of aircraft with new technologiesin turn helps the market to experience an increase in the revenue rate. Product Description The global Avionics System market was valued at 68.5 billion US dollars in 2020 that is expected to reach 86.9 billion US dollars by the end of 2025 with a compound annual growth rate of 4.86% during the forecast period of 2020 to 2025. Rising growth in the retrofit aircraft market and significant fuel saving are some of the factors that propels the growth of the market of Avionics System. Covid-19 Impact on Avionics System market Due to COVID-19 pandemic, all the companies have been affected financially with their businesses being halted for a long period of time. Due to coronavirus, so many industries such as aerospace & defense, transportation, construction, consumer & electronics goods, and others have impacted very badly. The virus has forced many companies to halt manufacturing and production operations due to the strict lockdown conditions imposed by the government authorities that led to decline in sales and revenue. As per the analysis, the Avionics System market is expected to increase with an impeccable growth rate owing to the rising demand for retrofit aircrafts and increasing investments for the technological advancements, which is supposed to promote the revenue rate in the next few years. Segmentation Analysis The global Avionics System market is segmented according to end-user, system and platform. On the basis of end-user, the market of Avionics System is segmented into Aftermarket and OEM. On the basis of system, the Avionics System market is segmented into hardware and software. Furthermore, hardware segment is sub divided into communication

2. systems, flight management systems, navigation systems, surveillance systems, electrical systems, emergency systems, mission & tactical systems, inflight entertainment systems, health monitoring systems, collision avoidance systems and weather systems. The software segment is further bifurcated into mission flight management software, safety critical airborne software, flight management software, aircraft health diagnostic software, training & simulation software. On the basis of platform, the market of Avionics System is divided into military aviation, commercial aviation, business jets & general aviation and helicopters. Drivers Increasing demand for retrofit aircraft market, upgradation of aircraft with new technologies, scheduled maintenance operations of aircraft are some of the major driving factors helping the growth of the market for Avionics Systems. Furthermore, increasing investments in research and development for developing novel technologies is also helping the market boom of Avionics System. Regional Analysis The market of Avionics System is spread across various regions all around the world such as North America (US, Mexico, Canada and rest of North America), Europe region (Italy, UK, France, Germany, Spain and rest of Europe), Asia Pacific region (India, Japan, China, Australia and rest of Asia Pacific), Middle East and Africa, and South America. Among these regions, North America holds the major share of the market of Avionics System owing to growing demand for aircraft for commercial applications and their increasing utility in the defense sector to carry out transport and surveillance activities, which further helps the market to grow in this area. North America region is also supposed to hold its dominance in this market during the forecast period. Asia Pacific holds the second largest share of the market owing to the high demand for retrofit aircraft in the region. Europe is expected to increase the market value owing to the factors such as increasing investments by the companies to introduce advanced products in the field. Key Players Major players of the global Avionics System market are Esterline Technologies (US), Honeywell (US), Meggitt (UK), Thales Group (France), Safran (France),

3. Curtiss-Wright (US) and United Technologies Corporation (Collins Aerospace) (US) About Us: Market Data Forecast is a firm working in the areas of market research, business intelligence and research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. For more information Contact Us: Market Data Forecast Phone: +1-888-702-9626 (U.S. TOLL FREE) Email: contact@marketdataforecast.com