The Aircraft Avionics comprise the electronic tools that guide aircraft, relay communications, and track system performance. They provide pilots with timely, precise flight information. Ongoing innovation continues to improve their integration, safety, and ease of use.

The Aircraft avionics market is expected to grow from US$ 41.23 billion in 2022 to US$ 69.60 billion by 2030. It is estimated to register a CAGR of 6.8% from 2022 to 2030. The total addressable market during this period is projected at roughly US$ 448.54 billion. The market covers navigation systems, communication systems, power and flight management systems, weather monitoring systems, electronic flight displays and others. It serves both commercial and military aircraft.

What Is Driving Demand

Growth is mainly supported by the rising global aircraft fleet and the refurbishment of older aircraft. Airlines are expected to need 42,595 new commercial aircraft over the next 20 years, according to Boeing’s Commercial Market Outlook 2023. Airbus forecasts that airlines will procure around 40,850 new aircraft by the end of 2042. These deliveries create large opportunities for avionics vendors.

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The shift from mechanical to electrical components and the rising electrification of aircraft are also lifting demand. They increase the need for electronic controls used by pilots. Manufacturers are focusing on innovative products to stay competitive.

Retrofitting and the MRO Boom

Retrofitting means adding newer technologies to older fleets. It improves passenger comfort and safety and helps airlines maintain aging aircraft. Many airlines are holding on to older fleets because of lower fuel prices, so maintenance activity is frequent. MRO providers are therefore upgrading their capabilities and procuring newer technologies. Demand for real-time data analytics is also rising, especially in Europe and North America, where adoption is maturing quickly.

Power and Flight Management Systems Lead

Power and flight management systems held the largest market share in 2022. The segment is expected to keep its dominance through 2030 and to post the highest CAGR. Its higher price, technology integration and role as a key pilot control explain this position. It is also used in most flight operations, and the need for better management of flight components and real-time status of flight controls adds to demand.

North America Holds a Major Share

The North America market was valued at US$ 13.26 billion in 2022 and is projected to reach US$ 21.24 billion by 2030, a CAGR of 6.1%. Major OEMs such as Boeing, Bombardier, Lockheed Martin and Airbus have production facilities in the region, which keeps generating demand for aircraft electronics. The presence of avionics manufacturers in the US and Canada adds to this momentum. Asia Pacific is likely to surpass North America by 2026 and dominate the global market by 2030.

Key Players

The report profiles the following companies. BAE Systems Plc, Raytheon Technologies Corporation, General Electric, Meggitt Plc and Curtiss-Wright Corporation are among the top players because of their diversified product portfolios.

• L3Harris Technologies Inc
• Raytheon Technologies Corporation
• Curtiss-Wright Corporation
• Honeywell International Inc
• General Electric Company
• Safran SA
• BAE Systems Plc
• Moog Inc
• Meggitt Plc
• Garmin Ltd

Recent Developments

Companies are using product launches, mergers and acquisitions to strengthen their positions. In April 2023, GE Aerospace and AJW Group signed an agreement to support avionics and electrical power systems for the B777, B737 and A320/30/40 families. In December 2021, HAL signed a US$ 288 million contract with BEL to supply avionics components for the LCA Tejas Mk1A fighter programme.

Future Outlook

The aircraft avionics market is positioned for healthy growth in the coming decades. Rising aircraft deliveries, continued retrofitting of older fleets and the expansion of avionics in next-generation aircraft will create new opportunities for vendors. The integration of advanced artificial intelligence into avionics is expected to be a major trend. Growth in the aerospace and defense sectors and rising demand for upgraded navigation systems should further widen the addressable market. Companies that innovate and keep their portfolios diverse will be best placed to benefit through 2030.

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