Commercial Avionics Systems Market - Global Industry Analysis and Forecast | 2025
The
global market for commercial avionics systems features a highly
consolidated vendor landscape, with the top four companies, namely
Honeywell Aerospace, Garmin Ltd., Thales Group, and Rockwell Collins,
cumulatively holding nearly 77% of the market in 2015, observes
Transparency Market Research in a recent report. The highly
competitive market is expected to become further competitive in the
next few years as the leading companies focus more on the development
of innovative and technologically advanced systems. Low cost of entry
into carrier systems is expected to lead to emergence of a number of
new players in the near future.
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Full Report:
Transparency
Market Research estimates that the global commercial avionics systems
market will exhibit a CAGR of 3.5% over the period between 2016 and
2024, rising from a worth of US$25.34 bn in 2016 to US$31.07 bn by
2024.
North
America Market to Continue Bullish Run
In
terms of type of commercial avionics systems, the segment of
navigation systems is expected to account for a dominant share in the
revenue of the global commercial avionics systems over the report's
forecast period. The leading share of the segment in the global
market will be attributed to the increased use of flight management
systems, multi-mode receivers, and GPS in commercial aircrafts, which
require the presence of refined navigation systems for proper
operation.
In
terms of geography, the market in North America accounted for a
massive share of 42.4% of the global market in 2015 and the region is
expected to retain dominance over the report's forecast period as
well. Willingness of aviation companies to spend on technological
advancements and an improved state of economic development are
expected to help the regional market witness strong growth in the
near future.
Rising
Demand for Real-time Data Processing Systems to Drive Market Growth
One
of the key factors boosting the growth prospects of the global
commercial avionics systems market is the rapid rate of technological
advancement in the aviation industry. Introduction of innovations
such as glass cockpit, vast improvements in in-flight entertainment
systems, and the increased demand for real-time data analytics from
aviation companies are also expected to provide massive room for
growth for companies operating in the global commercial avionics
systems market. The demand for real-time data analytics is especially
more prominent in developed regions such as Europe and North America
as the aviation industry is well-established and capable of
seamlessly incorporate advanced technologies.
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