Global Military Aircraft Avionics Market is valued at approximately USD 33.54 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 3.07% over the forecast period 2022-2029. Military avionics are advanced technologies in military aviation that allow pilots and crews to perform a variety of tasks, including battle, control, and command, ISR, and SAR. Avionics are the central processing unit of modern military aircraft. The Military Aircraft Avionics market is expanding because of factors such as the growing Adoption of Aircraft Modernization Programs and rising defense spending.
The Avionics system controls everything including navigation, control system, visual elements, sensor systems and communications. Its emergence has progressively increased during the last few decades. According to the Federal Aviation Administration, The Next Generation Air Transportation System is the FAA’s multibillion-dollar program to modernize the U.S. National Airspace System act as one of the most ambitious infrastructure projects. NextGen aims to increase the efficiency, capacity, resiliency, and safety of American aviation. Another important component driving space increase in defense spending. According to Statista, in 2021, the United States spent around USD 800.67 billion on its military. In addition, The United States is well known for spending more on its military than any other country. In 2021, it was estimated that per capita defense spending accounted for about 2,186 USD. Also, rising technological advancement in the Aircraft industry and increasing government initiatives in defense aircraft research would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Military Aircraft Avionics stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Military Aircraft Avionics Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key market players in the region. According to Statista, the number of aircraft in the United States increased in 2021, with estimates holding that the general aviation fleet was 204,405 aircraft. Furthermore, Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising government defense spending specifically in India and China due to increasing border conflicts in the market space.
Major market player included in this report are:
Honeywell International Inc.
Rockwell Collins Inc
Aspen Avionics Inc
L3 Aviation Products, Inc
Elbit Systems Ltd
Sagetech Avionics, Inc.
Recent Developments in the Market:
? In February 2023, AURA AERO has signed a mutual agreement with Thales group for the development of connected avionics solutions for their electric and hybrid aircrafts regional operations.
Global Military Aircraft Avionics Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, End-users, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
General aircraft avionics
Rest of the World