The vendor landscape in the global commercial avionics systems market is dynamic in nature with the presence of quite a few market players, observes Transparency Market Research (TMR). The primary factor that has been driving the global commercial avionics systems market is the increasing requirement for systems that can make precise and correct calculation of real time data for the aviation industry. It has been forecasted that the overall effect of this requirement would be very high in the years to come and is expected to influence and shape the market in a specific way.
Global commercial avionics system is anticipated to become more competitive in the next few years to come. Noted market players are estimated to put more focus on technologically advanced systems and innovation. It is also expected that there will be low cost entry in the global commercial avionics system market in the next few years which is lead to the foray of a number of new entrants.
Some of the prominent names that adorn the global market for commercial avionics systems are Avidyne Corporation, GE Aviation, Panasonic Avionics Corporation, Rockwell Collins Inc., Honeywell Aerospace, Universal Avionics System Corporation, and United Technologies Corporation, Garmin Ltd amongst many others.
As per a market research report by Transparency Market Research, it has been forecasted that the global commercial avionics systems market is expected to expand at a CAGR of 3.5% over the forecast period of 2019 – 2027. Expanding at such a growth rate, it is expected that the global commercial avionics systems market will reach a market value of US$ 34.44 bn by the end of the forecast period.
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Evolution of Aviation Industry to Stimulate Market Growth
Rapid evolution of the aviation industry, especially in developed economies such as North America and Europe is another factor that is driving the global commercial avionics systems market. Substantial opportunity for development and improvement are being offered to the market players of the global commercial avionics systems.
Based on systems type, the commercial avionics systems market is categorized into integrated modular avionics, avionics full duplex switched ethernet, cockpit systems, cabin systems, flight control and emergency system, surveillance systems, navigation systems, and other systems. In the systems segmentation, the navigation segment recorded as the largest market, followed by flight control and emergency systems, at present. Surveillance follows flight control and emergency system, and is a widely used commercial avionics systems technologies for assimilating manufacturing operations across many layers consisting of maintenance. Communication systems are of paramount importance in rotary wing aircrafts. The cockpit systems are further grouped into control and display systems, head-up display, and on-board airport navigation systems.
Cabin systems are classified into cabin electronics systems, and in-flight entertainment (IFE). Flight control and emergency systems are segmented into auto flight control systems, flight guidance control panel, and flight warning system. The navigation system is categorized into air data units, integrated electronic standby instruments, attitude and heading reference systems, inertial reference systems, global positioning systems, flight management systems, radio-navigation, terrain & traffic collision avoidance system, and weather radar.
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Based on aircraft type, the commercial avionics systems market is segregated into fixed wing aircrafts, and rotary wing aircrafts. Rapidly growing demand for very large fixed wing aircrafts is a major driving factor for the demand of commercial avionics systems end users in the global market. Commercial avionics systems are now subject to consolidation, with giant industrial companies acquiring smaller firms at an astounding speed. Surveillance systems are segmented into radio altimeter and air traffic control. The fixed wing aircrafts segment is further categorized as very large aircraft, wide body aircraft, and narrow body aircraft. Narrow body aircrafts account for the largest market share, while very large aircrafts are expected to grow at the fastest rate.
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