LONDON--(BUSINESS WIRE)--The global commercial aircraft avionic systems market is poised to grow by USD 11.97 billion during 2020-2024, progressing at a CAGR of close to 5% during the forecast period. Request free sample pages
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The market is driven by the development of technologically advanced next-generation aircraft components. In addition, the development of electric aircraft is anticipated to boost the growth of the commercial aircraft avionic systems market.
The global aviation industry is witnessing an increase in R&D activities due to the growing demand for technologically advanced and efficient next-generation aircraft components and commercial aircrafts. In addition, the increase in global air traffic and imposition of stringent regulations to minimize aviation greenhouse gas emissions, encouraged the International Civil Aviation Organization (ICAO) to adopt new aircraft CO2 emission standards in March 2017 which makes component manufactures liable to incorporate advanced solutions. As a result, sensors are being integrated to digitize aircraft components and systems. For instance, Rolls-Royce installed sensors in its Trent XWB engine, which enables the monitoring of engine parameters 40 times per second. Thus, the development of technologically advanced next-generation aircraft components is expected to drive market growth during the forecast period.
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Major Five Commercial Aircraft Avionic Systems Market Companies:
Cobham Plc is headquartered in the UK and operates the business under various segments such as Communications and Connectivity, Mission Systems, Advanced Electronic Solutions, and Aviation Services. The company offers aircraft avionic systems such as airborne servers, technical standard ordered radio, router solutions, and radio and audio control and management.
Curtiss-Wright Corp. is headquartered in the US and offers products through the following business units: Commercial / Industrial, Defense, and Power. The company offers aircraft avionic systems such as Data Concentrators, Air Data Computers, and Flight Test Instrumentation.
Elbit Systems Ltd.
Elbit Systems Ltd. is headquartered in Israel and provides products for commercial, homeland security, and defense applications. The company offers aircraft avionic systems such as heads-up displays (HUD), Enhanced Vision Systems (EVS), and Integrated Glass-Cockpit in the commercial market.
General Electric Co.
General Electric Co. is headquartered in the US and offers products through the following business segments: Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital. The company offers Inertial Navigation Products, Crew Information Systems, Avionics Computing Systems, and Mission Systems.
Honeywell International Inc.
Honeywell International Inc. is headquartered in the US and offers products through the following business segments: Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers aircraft avionic systems such as Next Generation Flight Management Systems, Integrated Multi-Mode Receiver, and more.
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Commercial Aircraft Avionic Systems Market Application Outlook (Revenue, USD Billion, 2020-2024)
Commercial Aircraft Avionic Systems Market Distribution Channel Outlook (Revenue, USD Billion, 2020-2024)
- Line fit
Commercial Aircraft Avionic Systems Market Geographic Segmentation Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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