Aerospace Avionics Market Dynamics 2017: Opportunities, Risks and Driving Factors to 2025
According to a new report published by Reports Monitor titled, “Aerospace Avionics Market by subsystem, by fit, and by platform: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the aerospace avionics market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. North America dominates the aerospace avionics market, in terms of value, and is expected to maintain this trend throughout the forecast period.
Continuous product development such and rising investment in R & D of avionics are some of the major drivers helps in growing the market.Increased in military aircraft spending by developing economies, aircraft deliveries and trend of modernization in airspace are led to expand the aerospace avionics market.
Program such as NEXTGen helps in reducing air traffic delay and improve air safety is propel the frequency of air passenger led to demand of new aircraft and avionics market.
Increased disposal income of developing economies rises spending on commercial as well as defence platform this fuels the aerospace avionics market.
• Flight controls and management system is expected to grow at higher rate in subsystem segment as it is the fundamental component of an aircraft.
• Retrofit segment is anticipated to achieve highest growth in future.
• North America dominates the aerospace avionics market followed by Europe.
• Asia Pacific is projected to grow at higher pace owing high air passenger traffic.
The major companies profiled in the report include GE, LARSEN & TOUBRO LIMITED, Honeywell International Inc., Rockwell Collins, Inc., Esterline Technologies Corporation, Astronics Corporation, L-3 Communications Holding Inc., Genesys Aerosystems, Aspen Avionics, Avidyne Corporation and Garmin Ltd
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