Stratview Research has recently published a report on the Commercial Avionics Market. This strategically evaluated report provides a detailed overview that presents today's market scenario and future possibilities, as well as market intelligence and information, for a 5-year period from 2021 to 2026.
Commercial Avionics Market Segment Analysis:
Stratview Research’s report discusses the segment-wise current market condition. Also, it offers an estimation of future growth opportunities. As per the estimation, The Commercial Avionics Market is estimated to grow from USD xx million in 2020 to USD xx million by 2026 at a healthy CAGR of 16.4% during the forecast period.
As per the report, the market is segmented by:
Aircraft Type Trends:
Based on aircraft type, the commercial avionics market is categorized into narrow-body, wide-body, regional aircraft.
- The narrow-body segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline.
- This is mainly attributed to rising demand for air travel and the expansion plans of LCC operators.
- Also, the emergence of new aircraft models such as COMAC C919, and Irkut MC-21 further bolsters the segment growth.
RegionalTrends
By region, the market in North America accounted for a significant share in 2020 and is expected to grow at the highest CAGR in the following years.
- This is mainly ascribed to the strong presence of aircraft manufacturers such as Boeing, Lockheed Martin, etc.
- Also, the rising demand for aircraft for commercial applications and their increasing adoption in the defense sector to carry out transport and surveillance activities further proliferates the regional market growth.
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COVID-19 IMPACT
The COVID-19 outbreak has moderately affected the commercial avionics industry. The demand for sensors of aircraft is highly dependent on aircraft deliveries. Due to the coronavirus outbreak, there has been a reduction in passenger travel demand across the globe. Stringent lockdown measures coupled with limited movement of people has resulted in the cancellation of national and international flights, thus resulting in the plummeting of the aircraft sales, thus affected the product sales. The aerospace industry was severely affected by the pandemic with a huge order backlog with the aircraft OEMs, with several aircraft deliveries scheduled during the review period.
Sneak peek into the Report:
This report serves as a comprehensive source of market analysis. The report's layout has been kept simple in order to have the most business value possible. It offers valuable insights into business dynamics and allows current and potential market participants to make strategic decisions. The following are the report's key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market forecast analysis
- Competitive landscape and dynamics: Market share, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends & Key success factors
Key Players:
The market for Commercial Avionics Market is highly consolidated with the strong presence of key players such as-
- Honeywell International Inc. (The U.S),
- General Electric Company (The U.S),
- Thales Group (France),
- BAE Systems PLC (UK),
- Cobham PLC (UK),
- Esterline Technologies Corporation (The U.S),
- Diehl Stiftung & Co. KG (Germany),
- L3Harris Technologies Inc.,
- Collins Aerospace (Raytheon Technologies Corporation) (The U.S), and
- Meggitt PLC (UK).
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Research Methodology
Stratview Research's reports are the result of a thorough analysis that combines thorough secondary, and primary interviews with industry leaders, and confirmation using unique internal database and statistical methods. More than 1,000 verified secondary sources, such as annual reports from companies, press releases, fact books, journals, white papers, and blogs are reviewed and analysed.
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