Avionics Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Avionics Market
The avionics market size was valued at USD 91.32 billion in 2023, and the market is now projected to grow from USD 99.33 billion in 2024 to USD 179.44 billion by 2032, exhibiting a CAGR of 7.67% during the forecast period of 2024-2032.
The modern generation aircraft are equipped with high-tech avionics that reduce downtime and ensure smooth flying operations by leasing next-generation aircrafts, resulting in the expansion of aviation market share globally. Airlines are focusing on next-generation aircraft to expand the fleets. The modern aircraft are wide and offer low-cost carriers for bulky orders.
Additionally, the increased use of technologies including artificial intelligence has transformed the aviation industry. In avionics, AI has led to the rise in unmanned aircraft operations. The fifth and sixth-generation fighter aircraft are going through development for the same. AI in avionics can also be used to recognize a target. It provides autonomous systems embedded with navigations for GPS-deprived environment.
Comprehensive Analysis of Avionics Market
The avionics market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the aviation industry. These segmentations are methodically segregated by system, by platform for sale, and by end users. The segmentation by system includes hardware and software. The market is classified by platform including commercial, military, business jets, and general aviation. The end-use segment is original equipment manufacturers and aftermarket.
The North America region leads the avionics market by benefitting a market size of USD 34.02 billion in 2022 due to the increased demand for commercial aircraft for fleet expansion. The U.S. is one of the biggest airline industries. The region dominates due to the presence of leading players in aircraft and avionics systems.
The top players in the market play a crucial role in the CCS industry assuring industrial prospectus growth and setting market standards. These players include, BAE Systems PLC (U.K.), Cobham PLC (U.K.), Raytheon Technologies Corporation (U.S.), Garmin Ltd. (U.S.), General Electric Company (U.S.), Honeywell International Inc. (U.S.), L3Harris Technologies Inc.(U.S.), Meggitt Ltd. (U.K.), Safran S.A. (France), Teledyne Technologies Incorporated. (U.S.), Thales Group (France), and Transdigm Group Inc. (U.S.). These market players provide a level-playing competitive landscape.
May 2023: Lockheed Martin Corporation partnered with IFS Global to use each other’s strengths to gain a market position. The collaboration provides modern services and products in aerospace and defense. They support technological infrastructure and equipment.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 7.67% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By System
Hardware
Software
By Platform
Commercial
- Narrow Body
- Wide Body
- Regional Jet
Military
- Combat
- Transport
Business Jets
General Aviation
By End-User
OEM
Aftermarket
By Geography
North America (By System, By Platform, By End-User, and By Country)
- U.S. (By Platform)
- Canada (By Platform)
Europe (By System, By Platform, By End-User, and By Country)
- U.K. (By Platform)
- Germany (By Platform)
- France (By Platform)
- Russia (By Platform)
- Italy (By Platform)
- Rest of Europe (By Platform)
Asia Pacific (By System, By Platform, By End-User, and By Country)
- China (By Platform)
- India (By Platform)
- Japan (By Platform)
- Australia (By Airport Type)
- Rest of Asia Pacific (By Platform)
Rest of the World (By System, By Platform, By End-User, and By Sub-Region)
- Latin America (By Platform)
- Middle East & Africa (By Platform)
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- 4.2. Latest technological Advancements
- 4.3. Porters Five Forces Analysis
- 4.4. Supply Chain Analysis
- 4.5. Qualitative Insights – Impact of the COVID-19 Pandemic on the Global Avionics Market
- 5. Global Avionics Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Definitions
- 5.2. Market Analysis, Insights and Forecast – By System
- 5.2.1. Hardware
- 5.2.2. Software
- 5.3. Market Analysis, Insights and Forecast – By Platform
- 5.3.1. Commercial
- 5.3.1.1. Narrow Body
- 5.3.1.2. Wide Body
- 5.3.1.3. Regional Jet
- 5.3.2. Military
- 5.3.2.1. Combat
- 5.3.2.2. Transport
- 5.3.3. Helicopters
- 5.3.4. Business Jets
- 5.3.5. General Aviation
- 5.4. Market Analysis, Insights and Forecast – By End-User
- 5.4.1. OEM
- 5.4.2. Aftermarket
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Rest of the World
- 6. North America Avionics Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By System
- 6.1.1. Hardware
- 6.1.2. Software
- 6.2. Market Analysis, Insights and Forecast – By Platform
- 6.2.1. Commercial
- 6.2.1.1. Narrow Body
- 6.2.1.2. Wide Body
- 6.2.1.3. Regional Jet
- 6.2.2. Military
- 6.2.2.1. Combat
- 6.2.2.2. Transport
- 6.2.3. Helicopters
- 6.2.4. Business Jets
- 6.2.5. General Aviation
- 6.3. Market Analysis, Insights and Forecast – By End-User
- 6.3.1. OEM
- 6.3.2. Aftermarket
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.1.1. Market Analysis, Insights and Forecast – By Platform
- 6.4.1.1.1. Commercial
- 6.4.1.1.1.1.
- 6.4.1.1.1.1.1. Narrow Body
- 6.4.1.1.1.1.2. Wide Body
- 6.4.1.1.1.1.3. Regional Jet
- 6.4.1.1.2. Military
- 6.4.1.1.2.1.
- 6.4.1.1.2.1.1. Combat
- 6.4.1.1.2.1.2. Transport
- 6.4.1.1.3. Helicopters
- 6.4.1.1.4. Business Jets
- 6.4.1.1.5. General Aviation
- 6.4.2. Canada
- 6.4.2.1. Market Analysis, Insights and Forecast – By Platform
- 6.4.2.1.1. Commercial
- 6.4.2.1.1.1.
- 6.4.2.1.1.1.1. Narrow Body
- 6.4.2.1.1.1.2. Wide Body
- 6.4.2.1.1.1.3. Regional Jet
- 6.4.2.1.2. Military
- 6.4.2.1.2.1.
- 6.4.2.1.2.1.1. Combat
- 6.4.2.1.2.1.2. Transport
- 6.4.2.1.3. Helicopters
- 6.4.2.1.4. Business Jets
- 6.4.2.1.5. General Aviation
- 7. Europe Avionics Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By System
- 7.1.1. Hardware
- 7.1.2. Software
- 7.2. Market Analysis, Insights and Forecast – By Platform
- 7.2.1. Commercial
- 7.2.1.1. Narrow Body
- 7.2.1.2. Wide Body
- 7.2.1.3. Regional Jet
- 7.2.2. Military
- 7.2.2.1. Combat
- 7.2.2.2. Transport
- 7.2.3. Helicopters
- 7.2.4. Business Jets
- 7.2.5. General Aviation
- 7.3. Market Analysis, Insights and Forecast – By End-User
- 7.3.1. OEM
- 7.3.2. Aftermarket
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. U.K.
- 7.4.1.1. Market Analysis, Insights and Forecast – By Platform
- 7.4.1.1.1. Commercial
- 7.4.1.1.1.1.
- 7.4.1.1.1.1.1. Narrow Body
- 7.4.1.1.1.1.2. Wide Body
- 7.4.1.1.1.1.3. Regional Jet
- 7.4.1.1.2. Military
- 7.4.1.1.2.1.
- 7.4.1.1.2.1.1. Combat
- 7.4.1.1.2.1.2. Transport
- 7.4.1.1.3. Helicopters
- 7.4.1.1.4. Business Jets
- 7.4.1.1.5. General Aviation
- 7.4.2. Germany
- 7.4.2.1. Market Analysis, Insights and Forecast – By Platform
- 7.4.2.1.1. Commercial
- 7.4.2.1.1.1.
- 7.4.2.1.1.1.1. Narrow Body
- 7.4.2.1.1.1.2. Wide Body
- 7.4.2.1.1.1.3. Regional Jet
- 7.4.2.1.2. Military
- 7.4.2.1.2.1.
- 7.4.2.1.2.1.1. Combat
- 7.4.2.1.2.1.2. Transport
- 7.4.2.1.3. Helicopters
- 7.4.2.1.4. Business Jets
- 7.4.2.1.5. General Aviation
- 7.4.3. France
- 7.4.3.1. Market Analysis, Insights and Forecast – By Platform
- 7.4.3.1.1. Commercial
- 7.4.3.1.1.1.
- 7.4.3.1.1.1.1. Narrow Body
- 7.4.3.1.1.1.2. Wide Body
- 7.4.3.1.1.1.3. Regional Jet
- 7.4.3.1.2. Military
- 7.4.3.1.2.1.
- 7.4.3.1.2.1.1. Combat
- 7.4.3.1.2.1.2. Transport
- 7.4.3.1.3. Helicopters
- 7.4.3.1.4. Business Jets
- 7.4.3.1.5. General Aviation
- 7.4.4. Russia
- 7.4.4.1. Market Analysis, Insights and Forecast – By Platform
- 7.4.4.1.1. Commercial
- 7.4.4.1.1.1.
- 7.4.4.1.1.1.1. Narrow Body
- 7.4.4.1.1.1.2. Wide Body
- 7.4.4.1.1.1.3. Regional Jet
- 7.4.4.1.2. Military
- 7.4.4.1.2.1.
- 7.4.4.1.2.1.1. Combat
- 7.4.4.1.2.1.2. Transport
- 7.4.4.1.3. Helicopters
- 7.4.4.1.4. Business Jets
- 7.4.4.1.5. General Aviation
- 7.4.5. Italy
- 7.4.5.1. Market Analysis, Insights and Forecast – By Platform
- 7.4.5.1.1. Commercial
- 7.4.5.1.1.1.
- 7.4.5.1.1.1.1. Narrow Body
- 7.4.5.1.1.1.2. Wide Body
- 7.4.5.1.1.1.3. Regional Jet
- 7.4.5.1.2. Military
- 7.4.5.1.2.1.
- 7.4.5.1.2.1.1. Combat
- 7.4.5.1.2.1.2. Transport
- 7.4.5.1.3. Helicopters
- 7.4.5.1.4. Business Jets
- 7.4.5.1.5. General Aviation
- 7.4.6. Rest of Europe
- 7.4.6.1. Market Analysis, Insights and Forecast – By Platform
- 7.4.6.1.1. Commercial
- 7.4.6.1.1.1.
- 7.4.6.1.1.1.1. Narrow Body
- 7.4.6.1.1.1.2. Wide Body
- 7.4.6.1.1.1.3. Regional Jet
- 7.4.6.1.2. Military
- 7.4.6.1.2.1.
- 7.4.6.1.2.1.1. Combat
- 7.4.6.1.2.1.2. Transport
- 7.4.6.1.3. Helicopters
- 7.4.6.1.4. Business Jets
- 7.4.6.1.5. General Aviation
- 8. Asia Pacific Avionics Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By System
- 8.1.1. Hardware
- 8.1.2. Software
- 8.2. Market Analysis, Insights and Forecast – By Platform
- 8.2.1. Commercial
- 8.2.1.1. Narrow Body
- 8.2.1.2. Wide Body
- 8.2.1.3. Regional Jet
- 8.2.2. Military
- 8.2.2.1. Combat
- 8.2.2.2. Transport
- 8.2.3. Helicopters
- 8.2.4. Business Jets
- 8.2.5. General Aviation
- 8.3. Market Analysis, Insights and Forecast – By End-User
- 8.3.1. OEM
- 8.3.2. Aftermarket
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.1.1. Market Analysis, Insights and Forecast – By Platform
- 8.4.1.1.1. Commercial
- 8.4.1.1.1.1.
- 8.4.1.1.1.1.1. Narrow Body
- 8.4.1.1.1.1.2. Wide Body
- 8.4.1.1.1.1.3. Regional Jet
- 8.4.1.1.2. Military
- 8.4.1.1.2.1.
- 8.4.1.1.2.1.1. Combat
- 8.4.1.1.2.1.2. Transport
- 8.4.1.1.3. Helicopters
- 8.4.1.1.4. Business Jets
- 8.4.1.1.5. General Aviation
- 8.4.2. India
- 8.4.2.1. Market Analysis, Insights and Forecast – By Platform
- 8.4.2.1.1. Commercial
- 8.4.2.1.1.1.
- 8.4.2.1.1.1.1. Narrow Body
- 8.4.2.1.1.1.2. Wide Body
- 8.4.2.1.1.1.3. Regional Jet
- 8.4.2.1.2. Military
- 8.4.2.1.2.1.
- 8.4.2.1.2.1.1. Combat
- 8.4.2.1.2.1.2. Transport
- 8.4.2.1.3. Helicopters
- 8.4.2.1.4. Business Jets
- 8.4.2.1.5. General Aviation
- 8.4.3. Japan
- 8.4.3.1. Market Analysis, Insights and Forecast – By Platform
- 8.4.3.1.1. Commercial
- 8.4.3.1.1.1.
- 8.4.3.1.1.1.1. Narrow Body
- 8.4.3.1.1.1.2. Wide Body
- 8.4.3.1.1.1.3. Regional Jet
- 8.4.3.1.2. Military
- 8.4.3.1.2.1.
- 8.4.3.1.2.1.1. Combat
- 8.4.3.1.2.1.2. Transport
- 8.4.3.1.3. Helicopters
- 8.4.3.1.4. Business Jets
- 8.4.3.1.5. General Aviation
- 8.4.4. Australia
- 8.4.4.1. Market Analysis, Insights and Forecast – By Platform
- 8.4.4.1.1. Commercial
- 8.4.4.1.1.1.
- 8.4.4.1.1.1.1. Narrow Body
- 8.4.4.1.1.1.2. Wide Body
- 8.4.4.1.1.1.3. Regional Jet
- 8.4.4.1.2. Military
- 8.4.4.1.2.1.
- 8.4.4.1.2.1.1. Combat
- 8.4.4.1.2.1.2. Transport
- 8.4.4.1.3. Helicopters
- 8.4.4.1.4. Business Jets
- 8.4.4.1.5. General Aviation
- 8.4.5. Rest of Asia Pacific
- 8.4.5.1. Market Analysis, Insights and Forecast – By Platform
- 8.4.5.1.1. Commercial
- 8.4.5.1.1.1.
- 8.4.5.1.1.1.1. Narrow Body
- 8.4.5.1.1.1.2. Wide Body
- 8.4.5.1.1.1.3. Regional Jet
- 8.4.5.1.2. Military
- 8.4.5.1.2.1.
- 8.4.5.1.2.1.1. Combat
- 8.4.5.1.2.1.2. Transport
- 8.4.5.1.3. Helicopters
- 8.4.5.1.4. Business Jets
- 8.4.5.1.5. General Aviation
- 9. Rest of the World Avionics Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast – By System
- 9.1.1. Hardware
- 9.1.2. Software
- 9.2. Market Analysis, Insights and Forecast – By Platform
- 9.2.1. Commercial
- 9.2.1.1. Narrow Body
- 9.2.1.2. Wide Body
- 9.2.1.3. Regional Jet
- 9.2.2. Military
- 9.2.2.1. Combat
- 9.2.2.2. Transport
- 9.2.3. Helicopters
- 9.2.4. Business Jets
- 9.2.5. General Aviation
- 9.3. Market Analysis, Insights and Forecast – By End-User
- 9.3.1. OEM
- 9.3.2. Aftermarket
- 9.4. Market Analysis, Insights and Forecast – By Sub-Region
- 9.4.1. Latin America
- 9.4.1.1. Market Analysis, Insights and Forecast – By Platform
- 9.4.1.1.1. Commercial
- 9.4.1.1.1.1.
- 9.4.1.1.1.1.1. Narrow Body
- 9.4.1.1.1.1.2. Wide Body
- 9.4.1.1.1.1.3. Regional Jet
- 9.4.1.1.2. Military
- 9.4.1.1.2.1.
- 9.4.1.1.2.1.1. Combat
- 9.4.1.1.2.1.2. Transport
- 9.4.1.1.3. Helicopters
- 9.4.1.1.4. Business Jets
- 9.4.1.1.5. General Aviation
- 9.4.2. Middle East & Africa
- 9.4.2.1. Market Analysis, Insights and Forecast – By Platform
- 9.4.2.1.1. Commercial
- 9.4.2.1.1.1.
- 9.4.2.1.1.1.1. Narrow Body
- 9.4.2.1.1.1.2. Wide Body
- 9.4.2.1.1.1.3. Regional Jet
- 9.4.2.1.2. Military
- 9.4.2.1.2.1.
- 9.4.2.1.2.1.1. Combat
- 9.4.2.1.2.1.2. Transport
- 9.4.2.1.3. Helicopters
- 9.4.2.1.4. Business Jets
- 9.4.2.1.5. General Aviation
- 10. Competitive Analysis
- 10.1. Global Avionics Market Rank Analysis (2023)
- 10.2. Competition Dashboard
- 11. Company Profiles
- 11.1. BAE Systems Plc (U.K.)
- 11.1.1. Overview
- 11.1.2. Products & services
- 11.1.3. SWOT analysis
- 11.1.4. Recent developments
- 11.1.5. strategies
- 11.1.6. financials (based on availability)
- 11.2. Cobham Plc (U.K.)
- 11.2.1. Overview
- 11.2.2. Products & services
- 11.2.3. SWOT analysis
- 11.2.4. Recent developments
- 11.2.5. strategies
- 11.2.6. financials (based on availability)
- 11.3. Raytheon Technologies Corporation (U.S.)
- 11.3.1. Overview
- 11.3.2. Products & services
- 11.3.3. SWOT analysis
- 11.3.4. Recent developments
- 11.3.5. strategies
- 11.3.6. financials (based on availability)
- 11.4. Garmin Ltd. (U.S.)
- 11.4.1. Overview
- 11.4.2. Products & services
- 11.4.3. SWOT analysis
- 11.4.4. Recent developments
- 11.4.5. strategies
- 11.4.6. financials (based on availability)
- 11.5. General Electric Company (U.S.)
- 11.5.1. Overview
- 11.5.2. Products & services
- 11.5.3. SWOT analysis
- 11.5.4. Recent developments
- 11.5.5. strategies
- 11.5.6. financials (based on availability)
- 11.6. Honeywell International Inc. (U.S.)
- 11.6.1. Overview
- 11.6.2. Products & services
- 11.6.3. SWOT analysis
- 11.6.4. Recent developments
- 11.6.5. strategies
- 11.6.6. financials (based on availability)
- 11.7. L3Harris Technologies Inc. (U.S.)
- 11.7.1. Overview
- 11.7.2. Products & services
- 11.7.3. SWOT analysis
- 11.7.4. Recent developments
- 11.7.5. strategies
- 11.7.6. financials (based on availability)
- 11.8. Meggitt Ltd. (U.K.)
- 11.8.1. Overview
- 11.8.2. Products & services
- 11.8.3. SWOT analysis
- 11.8.4. Recent developments
- 11.8.5. strategies
- 11.8.6. financials (based on availability)
- 11.9. Safran S.A. (France)
- 11.9.1. Overview
- 11.9.2. Products & services
- 11.9.3. SWOT analysis
- 11.9.4. Recent developments
- 11.9.5. strategies
- 11.9.6. financials (based on availability)
- 11.10. Teledyne Technologies Inc. (U.S.)
- 11.10.1. Overview
- 11.10.2. Products & services
- 11.10.3. SWOT analysis
- 11.10.4. Recent developments
- 11.10.5. strategies
- 11.10.6. financials (based on availability)
- 11.11. Thales Group (France)
- 11.11.1. Overview
- 11.11.2. Products & services
- 11.11.3. SWOT analysis
- 11.11.4. Recent developments
- 11.11.5. strategies
- 11.11.6. financials (based on availability)
- 11.12. Transdigm Group Inc. (U.S.)
- 11.12.1. Overview
- 11.12.2. Products & services
- 11.12.3. SWOT analysis
- 11.12.4. Recent developments
- 11.12.5. strategies
- 11.12.6. financials (based on availability)
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