Overview
and Scope
Commercial aircraft nextgen avionics refers to a collection of interrelated
technology, communication system, and equipment that significantly alter
aviation surveillance, navigation, and communications practices. It improves
safety, reduces flight times, and lowers emissions by integrating several
modern technologies. The main goal of commercial aircraft next-generation
avionics is to assist pilots in maneuvering efficiently.
Sizing and Forecast
The commercial aircraft nextgen avionics market size has grown rapidly in
recent years. It will grow from $3.08 billion in 2023 to $3.46 billion in 2024
at a compound annual growth rate (CAGR) of 12.0%. The
growth in the historic period can be attributed to increased air
traffic, increased travel and tourism, population growth, rise in disposable
income, growth of the aviation industry.
The commercial aircraft nextgen avionics market size is expected to see rapid
growth in the next few years. It will grow to $5.37 billion in 2028 at a
compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be
attributed to emerging market demand, fuel-efficient airframe designs,
sustainable aviation materials, market entry of new players, and growing need
for commercial aircrafts. Major trends in the forecast period include digital
cockpit modernization, advancements in connectivity and communication,
autonomous flight technologies, ai and machine learning, and advancements in
human-machine interface (hmi).
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Segmentation & Regional Insights
The commercial aircraft nextgen avionics market covered in this report is
segmented –
1) By Systems: Flight Management System, Communication System, Electric and
Navigation System, Surveillance and Emergency System, Collision Avoidance
System, Weather System, Others Systems
2) By Installation Stage: Forward Fit, Retrofit
3) By End User: Regional, Narrow Body, Wide Body
Asia-Pacific was the largest region in the commercial aircraft nextgen avionics
market in 2023. North America is expected to be the fastest growing region in
the forecast period. The regions covered in the commercial aircraft nextgen
avionics market report include Asia-Pacific, Western Europe, Eastern Europe,
North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
An increase in air passenger traffic is expected to propel the growth of the
commercial aircraft NextGen avionics market going forward. Air passenger
traffic refers to both local and foreign passengers carried by airlines with
national registrations. An increase in air passenger traffic across the globe
creates the need to effectively manage air traffic, which is being made
available to air traffic controllers and pilots through commercial aircraft
NextGen avionics by proactively identifying and resolving weather and other
hazards. For instance, in May 2022, according to a report published by the
International Civil Aviation Organization (ICAO), a United Nations agency whose
duties include developing and disseminating international civil aviation
regulations as well as monitoring and assessing their application, between
January and April 2022, there were 65% more air travelers than there were
during the same time in 2021, and there were 30% more aircraft departures. Therefore,
an increase in air passenger traffic across the globe is driving the commercial
aircraft NextGen avionics market growth.
Key Industry Players
Major companies operating in the commercial aircraft nextgen avionics market
include Cobham Limited, Curtiss-Wright
Corp., General Electric Company, Honeywell International Inc., L3Harris
Technologies Inc., Raytheon Technologies Corporation, Safran S.A, Teledyne
Technologies Incorporated, Thales Group, Elbit Systems of America LLC,
Esterline Technologies Corporation, Garmin International Inc., Panasonic
Avionics Corporation, United Tech Corporation, Universal Avionics
Systems., BAE Systems plc, Garmin Ltd.,
Raytheon Technologies Corp., Meggitt plc, UAVIONIX Corporation, CMC Electronics
Inc., Rockwell Collins Inc., Astronics Corporation, GE Aviation LLC, Sagem SA,
Avionics Services Ltd., Avidyne Corporation, Becker Avionics GmbH, Bendix
Aviation Corporation, Chelton Flight Systems, Cobham Aerospace Communications,
Comant Industries Inc., DAC International, FreeFlight Systems, Genesys
Aerosystems, Honeywell Aerospace Ltd., Innovative Solutions & Support Inc.,
L3Harris Technologies Inc.,
Mid-Continent Instruments and Avionics, NavWorx Inc., Rockwell Collins
Inc., Sandel Avionics Inc.
The commercial aircraft nextgen avionics
market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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