The next-generation avionics industry analysis by BIS Research projects the market to grow at a significant CAGR of 6.53% on the basis of value during the forecast period from 2020 to 2025. North America is expected to dominate the market in 2025 with a share of 38.62%. The North America region includes the U.S. and Canada. The U.S. is expected to acquire a major share in 2025 with a presence of major avionics provider, such as Collins Aerospace, Honeywell, L3Harris Technologies, GE Aviation, and Curtiss-Wright Corporation. These companies offer a wide range of avionic products and are continuously engaged in inorganic strategies so as to provide next-generation avionics.
There are several factors that are contributing to the significant growth of next-generation avionics market. Some of these factors are rising adoption of emerging technologies such as AI and machine learning, increasing development of eVTOLs and electric aircraft, increasing focus on open flight deck system and development of next-generation aircraft computer.
Global Next-Generation Avionics Market Segmentation
While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the aircraft type, which include commercial, military, business jets and general aviation, and helicopters. The report also analyzes different systems that includes hardware and software. Furthermore, the hardware sub-segment is further segmented into flight management system, flight control system, communication system, navigation system, surveillance system, mission and tactical system, health monitoring system, and collision avoidance system.
The next-generation avionics market is segregated by region under four major regions, namely North America, Europe, Asia-Pacific, and Rest-of-the-World. Data for each of these regions (by country) has been provided in the market study.
Scope of the Global Next-Generation Avionics Market
The next-generation avionics market research provides detailed market information for segmentation such as aircraft type, system, and region. The purpose of this market analysis is to examine the next-generation avionics market outlook in terms of factors driving the market, trends, technological developments, and competitive benchmarking, among others.
The report further takes into consideration the market dynamics and the competitive landscape, along with the detailed financial and product contribution of the key players operating in the market.
Key Companies in the Global Next-Generation Avionics Industry
The key market players in the global next-generation avionics market include Collins Aerospace, Thales Group, Saab, GE Aviation, L3Harris Technologies, Universal Avionics (an Elbit Systems Company), Curtiss-Wright Corporation, Safran, Cobham, Scioteq (Esterline), Garmin, Teledyne Technologies, Inc., BAE Systems, and Trig Avionics, among others.
Key Questions Answered in this Report:
- What are the underlying structures resulting in the emerging trends within the global next-generation avionics market?
- What is the scope in the market for new OEMs and other players to enter?
- What are the driving and challenging factors attributing to the growth of the global next-generation avionics market?
- Which operation type is expected to lead the global next-generation avionics market by 2025?
- What was the market value of the next-generation avionics market in different regions in 2019, and how is the market estimated to grow during the forecast period 2020-2025?
- How is the industry expected to evolve during the forecast period 2020-2025?
- What are the key developmental strategies that are implemented by the key players to sustain the competitive market?
