Avionics Market Overview and Forecast by Regional & Global Strategy, Size, Share with Development Factors
Avionics are technologically advanced electronic systems that are used in spacecraft, artificial satellites, and aircraft. The aircraft flight computer system is a combination of multiple display units which are equipped in the aircraft to perform the flight operation. Avionic systems include automatic flight management systems (AFMS), communication, navigation, surveillance (CNS), and the management of several operational modes.
According to the World Bank Organization, in 2019, around 4.6 billion air-passengers were carried around all over the world. The aviation industry growth is based on low-fare airlines, new travel trends, growing economies, and the replacement of conventional aircraft. The COVID-19 pandemic that initiated in December 2019 from Wuhan city, China, has had a drastic impact on several economies across the world. The rapid spread of coronavirus had a major impact on the global aviation industry.
Get Sample PDF Brochure with Impact of COVID19:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/avionics-market-101819
Several European countries were enforcing national lockdowns since January 2020. In June 2020, Japan announced that it would postpone the Olympic game to 2021 due to the COVID-19 pandemic. The commercial aviation industry is facing major challenges due to the coronavirus effect, such as the declining graph of air passenger traffic. The International Air Transport Association (IATA) released the report of global passenger traffic data 2020, and the report exhibits the 14.1% fall in the revenue generated from air-passenger traveling compared to the financial year 2019.
According to a Bloomberg 2020 report, the U.S. aerospace industry has lost USD 200 billion market value. Teal Group stated that the Boeing Company did not have a single order in January 2020. The Boeing deliveries have been hampered by the issues associated with the 737 MAX orders, whereas Airbus S.A.S. has been registered for zero orders in February 2020. Avionics is a prime system of an aircraft; there has been a direct impact on the market as demand for commercial aircraft is decreasing from the financial year 2020.
List Of Key Companies Profiled:-
· Avilution LLC (The U.S.)
· BAE Systems (The U.K.)
· CCX Technologies (Canada)
· Cobham PLC (The U.K.)
· Collins Aerospace (The U.S.)
· Garmin Ltd. (The U.S.)
· General Electric (The U.S.)
· Honeywell International Inc (The U.S.)
· L3Harris Technologies, Inc. (The U.S.)
· Meggitt (The U.K.)
· Nucon Aerospace(India)
· Safran S.A.(France)
· Teledyne Technologies Incorporated. (The U.S.)
· Thales Group(France)
· Transdigm Group, Inc. (The U.S.)
· uAvionix Corporation (The U.S.)
The competitive landscape of the Avionics Market Analysis has been discussed in detail. The report highlights leading companies, their performance over the past few years, and their key strategies. The Avionics Industry report provides a comprehensive evaluation of several factors that have contributed to the growth of the market in recent years. In addition to the growth stimulators, the report also discusses the challenges facing the market. Furthermore, the report provides forecast values for the market for the period of 2020-2027. Additionally, it identifies areas that have witnessed the highest demand and applications for the product in recent years. Besides this, some of the leading products, major companies, and major recent industry developments have been highlighted in this report.
Get your Customized Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/avionics-market-101819
Striking Technological Advancements to Open Multiple Growth Avenues:
The increasing adoption of Avionics Market Size for applications across diverse industries will aid the growth of the market in the upcoming years. Recent advances in structure and design have opened up a massive potential for rapid product adoption. The advances in engineering, in terms of product design and structure, will not only benefit the companies but will have a direct impact on the Avionics Manufacturers Share growth in the coming years. Moreover, rising investment in the research and development in different technologies will further favour the activities of the companies operating in this market.
Eruption of COVID-19 Pandemic to Stall Market Growth:
The growth of the Avionics Market Opportunity and Scope is expected to be negatively impacted by the COVID-19 pandemic. The declining market growth is primarily attributable to the travel restrictions imposed by governments worldwide to contain the spread of the virus. Apart from this, unprecedented economic downturn triggered by the coronavirus has forced countries, especially developing nations, to prioritize their spending, which in turn is likely to impede upcoming investments in this sector. Together, these factors will create unfavourable conditions for this market in the short-term.
Segmentation:
By System:-
· Hardware
· Automatic Flight Management System (AFMS)
· Communication, Navigation, Surveillance (CNS)
· Electrical System
· Auto Throttle
· Emergency System
· Mission &Tactical System
· Inflight Entertainment System
· Health Monitoring System
· Collision Avoidance System
· Weather System
· Fuel Management Systems
By End-user:-
· OEM
· Aftermarket
Browse Detailed Summary of Research Report With TOC:
https://www.fortunebusinessinsights.com/industry-reports/avionics-market-101819
By Geography:-
· North America (The U.S., Canada, and Mexico)
· Europe (The U.K., Germany, France, Italy, Russia, and Rest of Europe)
· Asia-Pacific (China, India, Japan, South Korea, Southeast Asia, Australia and Rest of Asia- Pacific)
· South America (Brazil, Argentina, and Colombia)
· Middle East & Africa (The UAE, Saudi Arabia, Egypt, and South Africa)
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]