According to FMI, the Global Customized Avionic System Market is expected to be valued at US$ 50.0 billion in 2023 and to grow at a CAGR of 7.2% between 2023 and 2033.
Avionic Systems, also known as aerospace electronics systems, provide detailed information on aircraft operations and help in the navigation, monitoring and communication of an aircraft. Avionic systems consist of various subsystems such as the fuel management system, the emergency system, the evacuation system and the electrical power system, among others which are integrated together to provide real-time data essential in operating an aircraft safely.
The avionic system is installed in the cockpit of an aircraft and is liable for the overall operation of aircraft. With an increase in the number of aircrafts for commercial and private use, many aviation industries are focusing on the development of customized avionic systems with various integrated modules. This will ensure the aircraft is safer with all in-flight services; helping them retain their USP while keeping the economic standpoint in mind. Customized avionic systems are designed and developed to be more efficient, accurate, reliable and user-friendly.
Get | Download Sample Copy with Graphs & List of Figures @
https://www.futuremarketinsights.com/reports/sample/rep-gb-3060
Global Customized Avionic Systems Market Dynamics
Growing concerns of the aviation industry towards operational efficiency, economic and environmental performance, safety & security of aircraft and passenger comfort drive the customized avionic system market. Moreover, application of avionic systems in advanced aircrafts and military aircrafts will help boost demand for customized avionic systems. Adding to this, an increase in the number of aircrafts in emerging economies of Asia Pacific has also led to an increase in the demand for customized avionic systems.
Growing aviation industry has created competition among the key companies to stay ahead by providing unique systems to acquire market share, which in turn is expected to drive the market of customized avionic systems. Moreover, demand for the customized avionic system market is expected to increase with technological advancements in the aviation industry, especially for military and commercial aircrafts. Rising investments in the aviation and military sector are expected to boost the demand for customized avionic systems across the globe.
Complex modelling and detailed designing of the avionic system and its compilation in order to ensure compatibility of the system with aircraft operation are major restraints in the growth of the avionic system market. Further, the time span between designing and the actual implementation of the customized avionic system is too long; which negatively impacts its market growth. Also, a major threat for the avionic system is its susceptibility to cyber-attack. In some countries, restrictions over technology sharing with others countries will slightly affect the growth of the customized avionic market adversely.
Global Customized Avionic Systems Market: Regional Outlook
North America is expected to dominate the customized avionic system market over the forecast period owing to an increase in the number of private aircrafts and growing demand from the defense sector. Europe is the second largest market for customized avionic systems and it is projected to register healthy CAGR over the forecast period. In the Asia-Pacific region growth of the aviation industry is prompt, especially in emerging economies such as China, India and Australia. This is largely attributed to growth in domestic airlines, which in turn is expected to increase demand for customized avionic systems over the forecast period. Besides this, the Middle East and Africa region is expected to register healthy growth over the forecast period. Latin America and Japan are anticipated to register moderate growth over the forecast period.
Global Customized Avionic Systems Market Players
Some of the market participants in the global customized avionic system market, as identified across the value chain include Universal Avionics Systems Corporation, Garmin Ltd., Honeywell International Inc, Esterline Technologies Corporation, Avidyne Corporation., GE Aviation, Genesys Aerosystems, BAE Systems PLC., Curtiss-Wright Corporation, Rockwell Collins., L-3 Communications Holdings Inc., Thales Group, Meggitt PLC, Panasonic Avionics Corporation and Zodiac Aerosystems, among others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.
Customization Before Buying, Visit @
https://www.futuremarketinsights.com/customization-available/rep-gb-3060
Key Segments Profiled in the Global Customized Avionic System Market Report
By Sub-System Type:
- Control System
- Safety System
- Electrical System
- Communication System
- Navigation and Surveillance System
- Maintenance Systems
- Flight Management System
- Other
By Platform:
- Fixed Wing Aircraft
- Rotary Wing Aircraft
By Application:
- Commercial aircraft
- Private aircraft
- Military aircraft
- Helicopters
- Unmanned Aerial Vehicles (UAVs)
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- Central Asia
- Russia and Belarus
- Balkan and Baltic Countries
- East Asia
- Middle East and Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights, Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
