Increased demand for real-time analytics promotes the Global Avionics Systems Market

Market overview:
The global Avionics Systems Market was worth USD 68.3 billion in 2020, and it is estimated that it will reach a valuation of USD 85.9 billion by 2025 at a CAGR of 4.87% during the outlook period.

Avionics systems are electronic devices that are typically installed on satellites, aircraft, and spacecraft. These systems include communication, control and monitoring, display, navigation, and others essential to aircraft operations. New advancements and innovations in technology have increased the demand for modern avionics. Additionally, aircraft orders and deliveries have increased in recent years, which has driven the overall growth of the market.

Recent developments:
In February 2019, BAE Systems signed an F-35 joint program agreement to support F-35 aircraft in Australia and the United Kingdom.
(https://www.baesystems.com/en-aus/article/bae-systems-grows-role-in-f-35-sustainment)

Market Drivers and Restrains:
The global avionics systems market is expected to show rapid growth in the near future due to the ever-increasing rate of competition. Technological advancements are an important factor in the global market for avionics systems. It also made the market more attractive to new entrants due to the relatively low cost of entry for market participants. Additionally, the increasing demand for real-time data analytics in the aviation industry is accelerating the growth of the global market. The ample space for improved inflight entertainment and many improvements in the past, such as glass cabins, are some of the factors driving the growth of the global market. The increasing demand for real-time data to increase the operational efficiency of aircraft is another factor driving the growth of the global market.

The growth of the avionics systems market is also driven and influenced by the following factors, such as an increase in emerging economies, aircraft orders and deliveries, increased demand for real-time data, the increasing popularity of integrated modular avionics and the growing implementation of modern next generation systems. The increase in global air traffic, driven by the growth of business and leisure in many countries around the world, is clearly affecting the market for avionics systems for the aviation industry. The growing concern with improving aircraft security and surveillance is accelerating the growth of the global market for avionics systems. The adoption of next-generation flight management systems that provide mission planning capabilities that enhance air traffic management capabilities and lower operating costs is a key driver of the growth of the avionics systems market. Factors such as vulnerability to cyberattacks and the associated high cost are expected to hamper market growth during the foreseen period.

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Report is segmented as:
The global avionics systems market is segmented based on aircraft types, such as fixed-wing aircraft and rotary-wing aircraft. On the basis of systems, the global market is segmented into surveillance systems, communication systems, cockpit systems, central maintenance systems, navigation systems, Ethernet avionics full duplex switch, electrical systems, integrated modular avionics, control of flight and emergency systems, cabin systems.

Geographical Segmentation:
The growth rate of the Asia Pacific avionics systems market will increase at a rapid pace during the forecast period, especially due to the increasing number of air passengers in developing countries such as China, the increase in people's disposable income and the rapid urbanization. India. North America accounted for more than 30% of its share due to the presence of the major aerospace avionics system providers and major full-cost airlines.
Impact of COVID 19 on Avionics Systems Market

The global impact of the coronavirus disease (COVID-19) in 2019 has already begun to be felt, and in 2020 it will have a significant impact on the avionics systems market. The COVID-19 outbreak has affected several aspects, as the cancellation of flights, travel ban and quarantine; urgent declaration in many countries; growing public panic and growing uncertainty about the future are affecting the global avionics systemsmarket.

Key market players:
Key players in the global avionics systems market are Rockwell Collins, Inc., Garmin Ltd., GE Aviation, Universal Avionics System Corporation, Panasonic Avionics Corporation, Thales Avionics, Honeywell Aerospace, United Technologies Corporation, L-3 Avionics Systems and Avidyne Corporation.

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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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