The global avionics market size was estimated at USD 44.68 billion in 2023 and is expected to grow at a CAGR of 9.7% from 2024 to 2030. The market growth can be attributed to increased demand for connected and economical aircraft systems. The rising global demand for domestic and international air travel across developing countries has increased orders for new commercial aircraft. This demand fuels the need for advanced avionics systems that ensure compliance with stringent safety regulations and enhance passenger experience. Airlines are investing in modernizing their fleets with updated and innovative avionics to remain competitive, improve fuel efficiency, and reduce operational costs. Thus, the expansion of the commercial aviation sector significantly boosts the market growth.

Moreover, the ongoing advancements in avionics technology, including integrating touchscreen interfaces, next-generation flight management systems, and advanced connectivity solutions, are significant growth drivers. These upgrades enhance aircraft operations' safety, efficiency, and performance, compelling both commercial and military sectors to update their avionics systems. This constant evolution and upgrade in technology attract airline companies to upgrade their fleets, driving market growth.

Key Avionics Company Insights

Some of the key players operating in the market are RTX Corporation, L3Harris Technologies, Inc., and Honeywell International Inc.

• RTX Corporation, Inc. is a major player in defense, aerospace, and technology, known globally for its innovative products and solutions. The company offers a wide range of services, including high-tech radar systems, electronics, and cybersecurity. RTX is also focused on positively impacting global security and leading the way in space technology and communication advancements.
• L3Harris Technologies, Inc. is a leading technology company specializing in defense and commercial technologies across air, land, sea, space, and cyber domains. Known for its strong innovation in communications and electronic systems, L3Harris aims to make military and civilian operations more efficient and safer. The company is committed to excellence and sustainability and plays a crucial role in global security, space exploration, and air traffic management. 

Global Avionics Market Report Segmentation

This report forecasts and estimates revenue growth at the global, regional, and country levels and provides an analyzes of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has further segmented the global avionics market report based on system, component, platform, and region:

• System Outlook (Revenue, USD Million, 2018 - 2030)
  • Navigation Systems
  • Communication
  • Flight Management
  • Traffic and Collision Management
  • Weather
  • Others
• Component Outlook (Revenue, USD Million, 2018 - 2030)
  • Hardware
  • Software
• Platform Outlook (Revenue, USD Million, 2018 - 2030)
  • Commercial Aviation
  • Military Aviation
  • Business and General Aviation
• Regional Outlook (Revenue, USD Million, 2018 - 2030)
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
  • Middle East and Africa (MEA)
    • UAE
    • Saudi Arabia
    • South Africa

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Key Avionics Companies:

The following are the leading companies in the avionics market. These companies collectively hold the largest market share and dictate industry trends.

• Thales S.A.
• Honeywell International Inc.
• RTX Corporation
• L3Harris Technologies, Inc.
• Leonardo S.p.A.
• General Electric Company
• BAE Systems plc
• Northrop Grumman
• Elbit Systems Ltd.
• Safran S.A.

Recent Developments

• In November 2023, AIBOT US Operations LLC, a company specializing in the design and manufacturing of both manned and unmanned e-VTOL aircraft, partnered with Honeywell International Inc. for its innovative Compact Fly-By-Wire (cFBW) technology. This partnership will equip AIBOT’s electric vertical takeoff and landing (eVTOL) aircraft with Honeywell's advanced avionics system. The compact design grants greater flexibility for AIBOT in developing their eVTOL aircraft, ensuring the integration of efficiency and safety.
• In October 2023, RTX Corporation, Inc. announced that it has effectively showcased a solid-state circuit breaker designed to boost hybrid-electric propulsion systems in next-generation aircraft. This innovation marks a significant step towards the aviation sector's goal of realizing net-zero carbon emissions by 2050.
• In May 2023, Lockheed Martin Corporation partnered with IFS Global, an enterprise software solution provider, to strengthen their market position by leveraging each other’s market strengths. This collaboration was directed towards offering a range of services and products to help aerospace and defense groups modernize their equipment and the supporting technological infrastructure.
• In April 2023, GE Aerospace (General Electric Company) signed the agreement with Lockheed Martin Corporation to support the F-35's avionics and electrical power systems. This contract, spanning four years, encompassed maintenance, repair, and overhaul (MRO) services for the F-35 Lightning II aircraft's GE Aerospace systems.

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