Commercial Aircraft Avionics Market: Industry Insights , Major Key Players and Current Trends Analysis and Forecast: 2022-2031

Japan, Japan, Thu, 07 Apr 2022 23:23:20 / Comserve Inc. / -- The commercial aircraft avionics market is anticipated to register a CAGR of above 6% during the forecast period, (2022-2031).

The commercial aircraft avionics market is anticipated to register a CAGR of above 6% during the forecast period, (2022-2031).

- The commercial aircraft avionics market is primarily dependent on the demand for new aircraft and upgrades of avionics for the existing aircraft.
- According to the FAA, any aircraft flying in the US airspace requires the use of a transponder and may also require aircraft to be equipped with a Version 2 ADS-B Out system before January 1, 2020. ADS-B is expected to be mandated in Europe in the coming years. These mandates are currently driving the demand for avionics upgrades.
- The delays in supply chains may challenge the market players and may act as a hindrance factor to the commercial aircraft avionics market.

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Key Market Trends

The Narrow-body Segment is Expected to Experience the Highest Growth During the Forecast Period

The narrow-body aircraft are the most delivered aircraft over the years. The aerospace giants, The Boeing Company and Airbus SE, have delivered 580 and 646 narrow-body aircraft in 2018. The increasing orders and deliveries of the narrow-body are fueled by the growing aviation industry. For instance, currently, Vietnam Airlines is in plans to replace its existing fleet of older Airbus A321s with new generation narrow-body aircraft. The state-owned flag carrier is planning to procure about 50 - 100 aircraft with expected deliveries between 2020 and 2030. It is currently reviewing its options between Airbus A320neo and Boeing 737 MAX. Increasing orders of new aircraft may generate demand for advanced avionics systems in the coming years.

The Asia-Pacific Region is Expected to Experience the Highest Growth During the Forecast Period

The Asia-Pacific region is anticipated to have the highest growth rate during the forecast period. This is due to the fast-growing aviation industry in China and India. Additionally, the countries, like Indonesia, South Korea, Singapore, Thailand, Malaysia, Australia, and Vietnam, are propelling this growth due to on-going investment in the aviation industry by public and private companies and growth of tourism in this region. Currently, Thai Airways is considering to purchase 23 new aircraft to replace the decommissioned ones. It is expected to purchase 13 wide-body aircraft and 10 narrow-body aircraft. Thai Airways is eyeing Boeing 777X and A350XWB aircraft for its future wide-body fleet. Such procurements and also rise of new maintenance, repair, and overhaul (MRO) facilities to cater to the increasizg aircraft fleet are expected to generate the demand for avionics systems and components in the region.

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Competitive Landscape

The commercial aircraft avionics market is highly consolidated with the majority of the share taken by very few players. Collins Aerospace (United Technologies Corporation), Honeywell International Inc., Thales Group, General Electric Company, and Cobham PLC are some of the key players in the market studied. However, the other global and regional players that provide connectivity solutions, gauges and indicators, GPS, jammers, and other control systems for various flight activities occupy a significant part of the retrofit segment of the market studied. Acquisitions of such smaller players can help the larger companies quickly gain a lot of ground in the market studied.

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