Worldwide Commercial Aircraft NextGen Avionics Industry to 2030 - Use of AI and ML in NextGen Avionics Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Commercial Aircraft NextGen Avionics Market by Systems, Installation Stage and Aircraft Type: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

Nextgen avionics represents a transition from a ground-based air traffic control system to a satellite-based air traffic management system, facilitated by the expansion of aviation-specific applications for commonly-used technologies, such as global positioning system (GPS), along with technological advancements in areas such as weather forecasting, data networking, and navigation.

The detailed and accurate satellite-based landing paths can be used by aircraft fitted with self-monitoring avionics and piloted by skilled pilots to fly safely near congested skies or mountainous regions. High levels of required navigation performance (RNP) capability are integrated into new commercial airplanes and business jets as well as those being upgraded with nextgen avionics.

Using navigation requirements, the Federal Aviation Administration (FAA) has established where and how airplanes can fly. These specifications specify the types of navigation aids and aircraft avionics that can be utilized to achieve performance requirements, whether they are ground-based or satellite-based. Such efforts by aviation authorities are expected to make air travel faster, safer, and more technologically advanced, which is expected to lead to high demand for nextgen avionics systems during the forecast timeframe.

Rise in dependency on avionics to make critical flying decisions and increase in initiatives by government administrations to make aerospace safer and more efficient are expected to drive commercial aircraft nextgen avionics market during the forecast period. However, cybersecurity issues with nextgen avionics systems and complex challenges in nextgen avionics are anticipated to hamper the growth of the market. Moreover, increase in air passenger traffic across the globe and use of artificial intelligence (AI)/machine learning (ML) in nextgen avionics are expected to offer lucrative opportunities for the market in future.

The market segmentation is based on system, installation stage, aircraft type, and region. On the basis of system, the market is divided into flight management system, communication system, electric and navigation system, surveillance and emergency system, collision avoidance system, weather system, and others. Based on installation stage, it is bifurcated into forward fit and retrofit. Based on aircraft type, it is segregated into narrow body and wide body. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

• This study presents analytical depiction of the global commercial aircraft nextgen avionics market analysis along with current trends and future estimations to depict imminent investment pockets.
• The overall commercial aircraft nextgen avionics market opportunity is determined by understanding profitable trends to gain a stronger foothold.
• The report presents information related to the key drivers, restraints, and opportunities of the global commercial aircraft nextgen avionics market with a detailed impact analysis.
• The current commercial aircraft nextgen avionics market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Market Dynamics

Drivers

• Rise in dependency on avionics to make critical flying decisions
• Initiatives by government administrations to make aerospace safer and more efficient

Restraints

• Cybersecurity issues with the nextgen avionics systems
• Complexity challenges in nextgen avionics

Opportunities

• Increase in air passenger traffic across the globe
• Use of artificial intelligence (AI) / machine learning (ML) in nextgen avionics

Companies Mentioned

• BAE Systems PLC
• Cobham Limited
• Curtiss-Wright
• General Electric Company
• Honeywell International Inc.
• L3Harris Technologies Inc.
• Raytheon Technologies Corporation
• Safran
• Teledyne Technologies Incorporated
• Thales Group

For more information about this report visit https://www.researchandmarkets.com/r/cpvt3a