Published Date: 2020-02-20
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According to the Graphical Research new growth forecast report titled “Europe Aerospace Avionics Market Size, By End-Use, System, Application”, Estimated to Exceed USD 26 Billion By 2025. The market growth is attributed to several factors such as rise in disposable incomes, growing tourism industry, and increased international trade across the globe. The increasing regional defense expenditure to strengthen the defense sector is significantly driving the industry size. Most European countries are now upgrading their current defense aircraft fleet and are procuring new military & special mission aircraft to support market growth.
The in-flight entertainment segment is projected to exhibit a lucrative growth of over 5% in the Europe aerospace avionics market. The increasing demand for in-flight connectivity, enhanced passenger experience, and technological advancements are driving the demand for in-flight entertainment systems. The major airlines are installing advanced systems, such as eye-tracking and 5G connectivity, for in-flight connectivity and to enhance passenger experience, supporting non-aeronautical revenues for the airlines. In May 2019, OneWeb backed by SoftBank, a Japanese tech group, signed a strategic contract with Airbus to develop in-flight 5G services. This will enhance the customer experience, further supporting the market share over the coming years.
The helicopter segment is anticipated to exhibit an accelerated growth between 2019 and 2025, growing at a CAGR of over 4%. The increasing applications of helicopters in the defense & commercial sector with enhanced avionics is propelling industry size during the forecast timeframe. Furthermore, the growing demand for helicopters in search & rescue operations, surveillance activities, and defense purposes due to their capability to take-off and land vertically is supporting market growth. The governments are actively engaged in buying helicopters with advanced avionics that can be used for special missions, air medical services, and search & rescue operations over difficult terrains in adverse climate.
Some of the key vendors in the Europe aerospace avionics market include Airbus S.A.S., Astronics Corporation, Aviation Industry Corporation of China, Ltd. (AVIC), BAE Systems, Boeing, Ball Corporation, Cobham plc, Elbit Systems Ltd., Garmin Ltd., GE Aviation, Harris Corporation, Honeywell International Inc., L3Harris Technologies, Inc., Meggitt PLC, Northrop Grumman Corporation, Nucon Aerospace, Panasonic Corporation, Raytheon Company, and Safran.
Europe Aerospace Avionics Market Share, By Product Type
Europe Aerospace Avionics Market Size, By System
Europe Aerospace Avionics Market Value, By Application
Europe Aerospace Avionics Market Growth, By End-Use
The above information has been provided for the following regions and countries:
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