NEW YORK, July 2, 2021 /PRNewswire/ --
The commercial aircraft avionic systems market is poised to grow by USD 3.33 billion during 2021-2025, progressing at a CAGR of 1.61% during the forecast period.
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Read the 120-page report with TOC on "Commercial Aircraft Avionic Systems Market Analysis Report by Distribution Channel (Line fit and Aftermarket), Application (FCS, CN and S, FMS, and AHMS), Geography (North America, Europe, APAC, MEA, and South America), and the Segment Forecasts, 2021-2025".
The market is driven by the increasing demand for commercial aircraft. In addition, the development of technologically advanced next-generation aircraft components is anticipated to boost the growth of the commercial aircraft avionic systems market.
The growth of the per capita income of individuals has been increasing the number of air travelers worldwide. The growth in the number of people traveling by air is encouraging airline operators to revamp their fleet to meet the growing demand. For instance, in March 2019, CASC signed an agreement with Airbus to purchase 290 A320s and 10 A350 XWB jets. Similarly, in February 2019, Emirates, a Dubai-based airline, signed an agreement with Airbus to purchase 40 A330-900 aircraft and 30 A350-900 aircraft. The growing adoption of new aircraft by airline operators is increasing the demand for various aircraft components, including commercial aircraft avionic systems, which is driving the growth of the market.
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Major Five Commercial Aircraft Avionic Systems Companies:
Cobham Plc
The company offers Aircraft Audio and Radio Management Systems and Airborne Servers and Routers.
Curtiss-Wright Corp.
The company offers solutions for airborne recording, air data computing, flight test, and space data handling systems.
Elbit Systems Ltd.
The company offerings range from complete integrated glass-cockpit suites to sophisticated Enhanced Vision Systems (EVS), and head-up displays (HUD). The company also provides other avionics systems and products such as flight management systems, digital map systems, and multifunction displays.
General Electric Co.
The company repairs and provides spares on equipment for a wide range of aircraft platforms, including widebody, narrowbody, and business jets.
Honeywell International Inc.
The company offers Navigation, Safety and Surveillance Solutions, Flight Management Systems, Flight Controls and Synthetic Vision Display Technologies, and other services.
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Commercial Aircraft Avionic Systems Market Distribution Channel Outlook (Revenue, USD bn, 2020-2025)
Commercial Aircraft Avionic Systems Market Application Outlook (Revenue, USD bn, 2020-2025)
Commercial Aircraft Avionic Systems Market Geography Outlook (Revenue, USD bn, 2020-2025)
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