Dublin, May 16, 2019 (GLOBE NEWSWIRE) -- The "Avionics Market by End User (OEM, Aftermarket), System (FMS, CNS, Health Monitoring, Electrical & Emergency and Software), Platform (Commercial, Military, Business Jets & General Aviation, Helicopters), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The avionics market is estimated at USD 68.52 billion in 2019 and is projected to grow at a CAGR of 4.86% by 2024.
In the last decade, unmanned aircraft (UA) were used in numerous defense as well as commercial applications. The increase in demand for their integration into the civil airspace has led to the development of dedicated automated solutions. For this purpose, NG-FMS have incorporated cooperative and non-cooperative Sense and Avoid (SAA) systems, which are the key technologies that aid UAVs to access non-segregated airspace.
Avionics encompass all electronic systems in an aircraft cockpit. The main purpose of avionics is to control aircraft operations and ensure the safety of passengers. Advanced avionics are being developed to improve the safety as well as utility of aircraft. These are enhanced by better situational awareness provided by various components.
Some of the major drivers of the market are the adoption of next-generation flight management systems in avionics and mandates for Automatic Dependent Surveillance-Broadcast (ADSB), leading to high demand for avionics.
Apart from a general overview of the major companies in this market, this report also provides financial analyses and information about the products, services, and key developments of major players in the industry.
Honeywell (US), Safran (France), United Technologies Corporation (UTC) (US), GE Aviation (US), Esterline Technologies (US), Curtiss-Wright (US), Meggitt (UK), and Thales Group (France) are some of the leading players covered in this report.
Market Dynamics
Drivers
- Adoption of Next-Generation Flight Management Systems in Avionics
- Growth in Retrofit Aircraft Market
- Mandate for Automatic Dependent Surveillance-Broadcast (ADS-B) Leading to High Demand for Avionics
- ADS-B Mandate
Restraint
- Increasing Vulnerability of Avionics to Cyberattacks
Opportunities
- Increasing Use of Advanced Navigation and Surveillance Technologies for Avionics
- Implementation of ACAS in General Aviation Aircraft
Challenges
- High Manufacturing Cost of Components
- Increased Complexity in Design of Embedded Systems for Military Applications
Company Profiles
- Safran
- Cobham
- Curtiss-Wright
- Esterline Technologies (Transdigm Inc.)
- Honeywell
- Meggitt
- Thales Group
- United Technologies Corporation (Collins Aerospace)
- GE Aviation
- L-3 Communications Holdings Inc.
- Teledyne Technologies Inc.
- Garmin Ltd.
- BAE Systems
- Harris Corporation
- Nucon Aerospace
- Innovators
- Avilution LLC
- Waxwing Avionics
- Airsuite Inc.
- Uavionix Corporation
- CCX Technologies
For more information about this report visit https://www.researchandmarkets.com/r/jke0m5
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