SAN ANTONIO, Texas, Nov. 17, 2021 /PRNewswire/ -- Frost & Sullivan's recent analysis of the global commercial avionics industry finds that airlines' increasing focus on improving flight operations is expediting market growth. Digital glass displays, connected flight management systems, and HUD (head-up display) are gaining traction due to the emphasis on enhancing flight operations. Airlines can also improve safety and efficiency by applying avionics systems, which encompass communication, navigation, and surveillance equipment. Primarily driven by global regulatory mandates, the total global commercial avionics market is estimated to reach $63.34 billion by 2030, up from $34.90 billion in 2020, at a compound annual growth rate (CAGR) of 6.1%.
Asia-Pacific (APAC), North America (NA), and Europe will be the top three avionics markets over the forecast period. The high aircraft orders from airlines are driving the acceleration of the avionics market in APAC. Similarly, regulatory mandates from the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA) will inflate the demand for avionics in NA and Europe.
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"With sustainable aviation gaining traction, regulatory authorities are using a phased approach to reduce the industry's carbon footprint, resulting in the acceleration of the research and development of new aircraft that are either 100% electric or are a hybrid model," said Waseem Ahmed Khan, Industry Analyst, Aerospace & Defense Practice, Frost & Sullivan. "This has also resulted in the creation of a new revenue stream in the form of UAM (urban air mobility). Many leading aircraft original equipment manufacturers (OEMs) and mobility and technology companies are also focusing on the development of electric vertical take-off and landing (eVTOL) aircraft, which will bring in new growth opportunities for avionics suppliers."
Khan added: "As OEMs move to lower aircraft weight and power consumption in their latest models, the adoption of integrated modular avionics (IMA) solutions will increase. This will result in many advantages for OEMs, such as weight reduction, enhanced flexibility, reduction in part requirements, and faster integration. The adoption of IMA also has a significant impact on maintenance costs as it replaces numerous separate processors and line replaceable units (LRUs) with fewer, more centralized processing units."
To tap into the growth opportunities exposed by the global commercial avionics industry, market participants should focus on:
Global Commercial Avionics Growth Opportunities is part of Frost & Sullivan's Global Aerospace & Defense Growth Partnership Service program.
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