Published Date: 2020-02-20
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According to the Graphical Research new growth forecast report titled “North America Aerospace Avionics Market Share By System, Application, End-Use”, Estimated To Exceed USD 29 Billion By 2025. The Market growth can be attributed to the technological advancements introduced by major market players. Integration of information technology and real-time data into an advanced avionics system will support pilots to take crucial decisions. The rising demand for supersonic jets with highly advanced avionics systems will also act as a market accelerator. Various industry participants are coming together for the development of such highly advanced avionics systems. For instance, in January 2019, Collins Aerospace entered a contract with Lockheed Martin to provide avionics, sensors, and touchscreen displays to X-59 Quiet Supersonic Technology (QueSST) aircraft. The QueSST will be then delivered to NASA to collect data, increasing the feasibility of commercial supersonic travel in the coming years.
The aging aircraft fleet in North America will also serve as a major factor propelling the aerospace avionics market. The aircraft of major commercial airline operators across the U.S. including Allegiant Air, Delta Air Lines, United Airlines, Southwest Airlines, American Airlines, Hawaiian Airlines, JetBlue Airways, Alaska Airlines, Frontier Airlines, and Spirit Airlines have an average age of 10 years with oldest at around 20 years and the least oldest at around seven years. These aircraft operate on obsolete avionics technology and require a major upgrade.
Inauguration of various start-ups and participation of many regional players are positively impacting the North America avionics market. Many new industry participants are embracing technologically advanced products and are increasingly focusing on upgrading the quality of existing systems. New industry players are seeking partnerships, long-term agreements, and quality approvals from major industry players and government organizations, improving market competition. For instance, in May 2019, avionics and engineering specialist Innovative Solutions & Support (IS&S) entered into its first Supplemental Type Certificate (STC) contract to integrate autothrottle on a Beechcraft King Air, whereas, in October 2019, Universal Avionics received an approval to build a prototype cockpit upgrade for Dassault Falcon 900B.
The helicopter segment in the North America aerospace avionics market will demonstrate a moderately high growth rate of over CAGR 3% during the forecast period of 2019 - 2025. The growth can be attributed to presence of various private owners and leasing helicopter companies. Personal operators are posing a demand for easy to use avionics systems to which industry players are responding by introducing new flight management systems. For instance, in January 2020, Avidyne, an avionics manufacturer in the U.S., launched Helios multi-function Flight Management System (FMS) to integrate into helicopters. The FMS includes one-touch departure, airway, arrival, and easy-to-use flight planning with capabilities to integrate with existing helicopter equipment.
The OEM segment is expected to show the maximum growth potential in the North America aerospace avionics market. The growth can be attributed to the presence of major aircraft and component manufacturers such as Boeing, Pratt and Whitney, GE Aviation, Collins Aerospace, and United Technologies and their activities to extensively outsource manufacturing processes of aircraft avionics.
The North America aerospace avionics research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD million from 2019 to 2025, for the following segments:
North America Aerospace Avionics Market Share, By System
North America Aerospace Avionics Market Size, By Application
North America Aerospace Avionics Market Value, By End-use
The above information has been provided for the following regions and countries:
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