Jun 22, 2020 (Market Insight Reports) -- The Avionics Systems Market Research Report 2020 to 2025 presents an in-depth assessment of the Station Avionics Systems It provides the industry overview with market growth analysis with a historical & futuristic perspective considering the following parameters; cost, revenue, demands, and supply data (as applicable). The bottom-up approach was used to estimate the global market size of Station Avionics Systems based on end-use applications in the various regions, in terms of USD million. The report covers the historic growth of the market, the impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Avionics Systems investments from 2020 to 2025.
Top Companies in the Global Avionics Systems Market
Rockwell Collins, Raytheon Technologies Corporation /zigman2/quotes/203237915/composite RTX -0.73% , Honeywell Aerospace, Garmin Ltd. /zigman2/quotes/203929352/composite GRMN -1.90% , Cobham plc (CBHMF), Thales Group, Lockheed Martin Corporation /zigman2/quotes/200691238/composite LMT -0.20% , GE Aviation, Northrop Grumman Corporation /zigman2/quotes/205518355/composite NOC -0.68% , BAE Systems plc (otcmkts:BAESY), among others.
According to this study, over the next five years, the Avionics Systems market will register a 4.9% CAGR in terms of revenue, the global market size will reach $ 34890 million by 2025, from $ 28840 million in 2019.
Market Overview: Avionics are electronics systems used in aircraft for communication, navigation, and various other flight critical applications. Modern avionics also aid in improved navigation and routing, provide enhanced situational awareness to pilots and improve the ATM process.
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Market Insights: North America was the largest production market with a market share of 45.30% in 2012 and 45.71% in 2017 with a decrease of 0.44%. Europe ranked the second market with the market share of 42.02% in 2016.
The growth in global air traffic owing to the increasing business and leisure in various countries across the globe is positively influencing the market for commercial avionics systems in the aviation industry. The global market for commercial avionics systems is chiefly driven by an increasing need for real-time data to improve the aircraft’s operational efficiency. Additionally, the increasing expectation of the air passengers for enhanced in-flight services and solutions has boosted the demand for in-flight entertainment (IFE), which in turn is pushing the market for commercial avionics systems forward. Owing to these factors, the market for commercial avionics systems is growing at a significant pace globally.
The emerging nations such as China, India, Japan, Singapore, Australia, UAE, Saudi Arabia, South Africa, and Brazil are expected to generate further demand in the commercial avionics systems market over the forecast period. With increasing investments in the research and development in the avionics industry, enhanced products are being launched by the manufacturers to improve the aircraft’s performance, reduce environmental pollution and minimize risks associated with human error during flights. However, the threats of cyber-attacks and the economic turmoil in various countries globally are hindering the growth of this market.
The Avionics Systems market can be divided based on product types and its sub-type, major applications and Third Party usage area, and important regions.
This report segments the global Avionics Systems Market based on Types are:
Flight Control System
Flight Management System
Health Monitoring System
Based on Application, the Global Avionics Systems Market is Segmented into:
Regions Are covered By Avionics Systems Market Report 2020 To 2025.
North America, Europe, China, Japan, Southeast Asia, India.North America (USA, Canad, and Mexico).Europe (Germany, France, UK, Russia, and Italy).Asia-Pacific (China, Japan, Korea, India, and Southeast Asia).
The report has 150 tables and figures browse the report description and TOC https://www.marketinsightsreports.com/reports/03021866220/global-avionics-systems-market-growth-2020-2025?Mode=46&Source=MW
Significant Features that are under Offering and Key Highlights of the Reports:
-Detailed overview of Avionics Systems Market
-Changing Avionics Systems market dynamics of the industry
-In-depth market segmentation by Type, Application, etc.
-Historical, current and projected Avionics Systems market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of Avionics Systems Market
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.
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All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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