The global next-generation avionics market value is projected to reach $84.73 billion by 2025, reveals the premium market intelligence study. The study also highlights that the market value is set to witness a CAGR of 6.53% between 2020 and 2025.
The comprehensive study of the global next generation avionics market extensively covers the following:
Besides these parameters, the study also encompasses the market growth drivers, opportunities, market restraining factors, competition mapping, segmental analysis, and regional analysis.
This study indicates that the potential demand for next-generation avionics may be attributed to several factors such as increasing development of eVTOLs and electric aircraft, increasing focus on open flight deck system and development of next-generation aircraft computer, among others.
The study highlights the various emerging opportunities, such as the rising adoption for integrating avionics with machine learning and AI, as well as the on-going and upcoming programs that further leads to the growth of next-generation avionics.
To gain a holistic view of the market, data from different segments of the market has been analyzed minutely. These segments include segregation on the basis of aircraft type, system, and region to compile an in-depth study.
Nilopal Ojha, Team Lead, BIS Research, states, “The aviation industry is continuously evolving. With the emergence and substantial investment on technologies such as artificial intelligence (AI) and machine learning, the aviation industry is looking at ways to incorporate these technologies so as to increase safety, efficiency and sustainability.”
Key insights and data triangulation have been produced from in-depth interviews with leaders of the leading companies and market participants. The key players profiled in the report include Collins Aerospace, Thales Group, Saab, GE Aviation, L3Harris Technologies, Universal Avionics (an Elbit Systems Company), Curtiss-Wright Corporation, Safran, Cobham, Scioteq (Esterline), Garmin, Teledyne Technologies, Inc., BAE Systems, and Trig Avionics, among others.
The study also offers strategic recommendations that can help organizations in tracking various products, trends, and technologies that are changing the dynamics of the market. The recommendations also offer bespoke research services to help organizations meet their objectives.
Source: ASDReports - Market Research
Date: Jan 25, 2021