2021 to 2028 Statistics: Global Aerospace Avionics Market Worth $1,18,619.0 Million and Grow at a CAGR of 6.7% – Exclusive [285 pages] Report by Research Dive

Source: Research Dive
 

New York, USA, Nov. 22, 2021 (GLOBE NEWSWIRE) --

According to the report published by Research Dive, the global aerospace avionics market is anticipated to garner $1,18,619.0 million in revenue and rise at a CAGR of 6.7% over the analysis period.

Download Free Sample Report of the Global Aerospace Avionics Market: https://www.researchdive.com/download-sample/2838

As per our analysts, with the increasing demand in commercial aviation for passenger travel all across the world, the market is predicted to see remarkable growth during the forecast period. The utilization of commercial aircraft in avionics systems is flight management systems, navigation systems, surveillance systems, and many more are further expected to uplift the growth of the market over the estimated period. Besides, the growing demand for commercial and military aircraft in developing countries is expected to foster the growth of the market over the analysis timeframe. However, the capital-intensive nature of aerospace avionics technology may hamper the growth of the aerospace avionics market during the forecast period.

 

Covid-19 Impact on the Global Aerospace Avionics Market

The outbreak of the Covid-19 pandemic has had a moderate impact on the aerospace avionics market.

Initially, with the pandemic, there has been a disruption in the supply chain which led to the unavailability of raw materials for the production of aircraft parts. Gradually, the implementation of technologies such as the industrial internet of things (IIOT) enabled the real-time monitoring of manufacturing of aerospace avionics products virtually. This factor is further expected to boost the growth of the market during the analysis period.

Check out How COVID-19 impacts the Global Aerospace Avionics Market: https://www.researchdive.com/connect-to-analyst/2838

 

Segments of the Global Aerospace Avionics Market

The report has been divided the market into various segments namely, system, application, distribution channel, and region.

System: Flight Control System Sub-Segment to be Most Profitable

The flight control system sub-segment is expected to generate a revenue of 44,541.4 million over the analysis timeframe. This is mainly due to the rising emphasis on improving aircraft operations in commercial and military aviation. With the improved fuel efficiency of aircraft operations, the profitability of aircraft has also increased, this factor is expected to bolster the growth of the market sub-segment during the analysis timeframe.

Check out all Aerospace & Defense Industry Reports: https://www.researchdive.com/aerospace-and-defence

Application: Commercial Aviation Sub-Segment to be Most Lucrative

The commercial aviation sub-segment is expected to garner a revenue of $62,638.0 million over the forecast time period. The increasing number of passengers and cargo all across the globe has led to an increase in the manufacturing rate of aircraft. This is the major factor expected to amplify the growth of the aerospace avionics market sub-segment during the forecast period.

Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights

Distribution: Original Equipment Manufacturer (OEM) Sub-Segment to Have Largest Market Share

The original equipment manufacturer sub-segment is expected to garner a revenue of $67,910.5 million over the estimated timeframe. This is mainly because of the growth in all major sectors of aviation like military aviation, general aviation, and commercial aviation. Moreover, the increasing number of passengers in commercial aviation is further predicted to hold the largest market share during the forecast period.

Region: North American Region Anticipated to Have Extensive Growth Opportunities

The North American region is expected to generate a revenue of $38,990.1 million over the analysis period.

This is mainly due to the well-established infrastructure in commercial and military aviation in this region. Furthermore, the increasing emphasis on the research and development of aerospace avionics in the civil aviation and military systems in this region is further expected to fuel the regional growth of the aerospace avionics market during the analysis period.

 

Global Aerospace Avionics Market

  • 1. Northrop Grumman Corporation
  • 2. General Dynamics Corporation
  • 3. Thales Group
  • 4. Elbit Systems Ltd
  • 5. General Electric
  • 6. L3 Harris Technologies, Inc
  • 7. BAE Systems
  • 8. Leonardo S.P.A
  • 9. Airbus
  • 10. Boeing

These players are majorly working on the development of new business strategies and tactics to acquire the leading global industry.

For instance, in February 2021, Collins Aerospace, a leading Raytheon Technologies subsidiary and well-known supplier of aerospace and defense products, has announced to continue the partnership with HAL, a renowned Indian aerospace and defense company. With this partnership, the company has aimed to expand its business on providing better mechanical, aerostructure, and power control equipment.

In addition, the report also summarizes other important aspects such as SWOT analysis, product analysis, the financial performance of the key players, and the latest strategic development. Click Here to Get Absolute Top Companies Development Strategies Summary Report

 

TRENDING REPORTS WITH COVID-19 IMPACT ANALYSIS

Satellite Data Services Market:
https://www.researchdive.com/8424/satellite-data-services-market

Unmanned Aerial Vehicle (UAV) Drones Market:
https://www.researchdive.com/8348/unmanned-aerial-vehicle-uav-drones-market

EVTOL Aircraft Market:
https://www.researchdive.com/166/evtol-aircraft-market

Research Dive

Introduction

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

 

Contact

T . +91-(788)-802-9103 (India)
     +1-(917)-444-1262 (US)
E . [email protected]
w . https://www.researchdive.com
FB . https://www.facebook.com/Research-Dive-1385542314927521
Twitter . https://twitter.com/ResearchDive
LinkedIn . https://www.linkedin.com/company/research-dive/
A . 99 Hudson Street, 5Th Floor, New York, NY 10013, United States of America

Share

Related Articles

2022/10/11

Key Solutions to Advancing Global Televomunication

Join us to discover the possible solutions telecom giants are searching for and learn from our panel of experts on their data-driven insights.

2023/03/02

NFQ Networking Night - Building Effective Digital Products

Meet. Discuss. Grow. at our networking night on March 9th. If you're interested in digital product development, learn from industry experts as we focus on the "How to Build an Effective Digital Product" topic.

2022/09/13

[DIGITIMES - Supply Chain Summit 9/27-28] How do global businesses manage supply chain risks, maintain resilience, and deliver sustainable growth!

DIGITIMES will be hosting the "Supply Chain Summit" on 27-28th September 2022 in Taipei, Taiwan (Hybrid Event). Over 50 leading companies/brands will be present, along with Taiwanese and international experts, to share their perspectives on how to manage global supply chain risks, maintain resilience, and deliver sustainable growth.