Market Highlights
The avionics market is experiencing a shift to a satellite based system from a ground-based air traffic control system and is in the direction of more high-speed, high-bandwidth, and compute-intensive avionics. Further, the increase in growth is highly attributed to an increase in aircraft deliveries particularly, in developing nations; need for improved flight operations through real-time data; as well as enhanced decision making, and adoption of avionics systems to fulfill advanced aircraft and regulatory requirements.
The global avionics market is expected to soar high in the forecast period. Factors such as rise in the number of aircraft deliveries, increased military aircraft spending by emerging countries, and the recent trend of airspace modernization are propelling the growth of this market. Also, high requirement of real-time flight plan information sharing, rising demand for UAVs for commercial applications, technological advancements of drone payloads are further fuelling the global avionics market growth.
The developing economies worldwide are taking initiatives to improve their infrastructure including, developments of airports and air connectivity with different countries. This will result in riding demand for aircrafts. For instance, the Chinese government, under its 13th Five-Year Plan 2016-20, is planning to build additional 74 civil airports as per a report released by CAAC. Furthermore, by 2020, the government plans to build over 500 airports for its general aviation industry. Also, the Indian government has plans to build around 100 airports for extending its air connectivity.
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Market Overview
Avionics, or aviation electronics, is a general word used for all types of electrical equipment utilized in missiles, aircraft as well as spacecraft. Avionics includes components that are directly used by the pilot such as radio communication, navigation and weather radar equipment. Additionally, avionics also consist of other electronic systems that not directly utilized by the pilot that control as well as monitor flight and performance of engine.
The term avionics includes the electronic systems that are utilized in aircraft, artificial satellites, and spacecraft. The various avionic systems include communications, the display, navigation and management of multiple systems, along with several of the systems that are fixed to aircraft to conduct individual functions. These functions can either be simple or complicated such as a searchlight for a police helicopter or the tactical system for an airborne early warning platform. The term avionics is a combination of both the words aviation as well as electronics.
Industry Top Player’s
• Honeywell International Inc
• United Technologies Corporation
• Thales Group
• Rockwell Collins, Inc.
• Thales Group and Cobham Plc.
The high competition in the general aviation industry and resulted in expansion of low-cost travel, along with the rising affordability of population in Asia Pacific is another reason for the high passenger traffic. Also, a large population of these emerging economies is moving to urban areas and government of these economies are investing in smart cities. This would result in better internet infrastructure thus, these factors would influence the market growth for avionics in Asia Pacific.
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Market Segments
The global avionics market can be classified based on sub-system, fit, platform and region. On the basis of sub-system, the global avionics market is classified into CNS, FCS, FMS, and IFE, military & tactical system, monitoring/glass cockpit system, and electrical & emergency system. Depending upon fit, it is segmented into line-fit and retrofit market. According to platform, the global avionics market is divided into commercial, defense and UAV.
Among the market segments, the FCS segment is expected to command a large share of the avionics market during the future years owing to the rise in requirement of real-time flight plan information sharing. Based on fit, the line-fit market segment of the avionics market is anticipated to command the largest share and grow at the swiftest rate during the future years. The defense market segment is holding the major share of the avionics market and is expected to grow at fast rate over the future period.
Based on regions, the global avionics market is divided into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. The North American region is anticipated to command the maximum market share and would lead the avionics market during the forecast period. This is due to the massive investments by OEM’s as well as component manufactures in research and development of advanced avionics systems.
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