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Military Aircraft Avionics Market Size, Share, and Analysis, By Type (General Aircraft Avionics, Mission-Specific Avionics), By Application (Aerospace Corporation, National Defense Organization, Government Authority, Defense Company, Research Institutions, Regulators), By End User (OEM, Aftermarket) and Regional Forecasts, 2022-2032
Military Aircraft Avionics Market size was USD 33.81 billion in 2021 and projected to grow from USD 36.8 billion in 2023 to USD 54.5 billion by 2032, exhibiting a CAGR of 4.4% during the forecast period.
Avionics is a combination of electronics and aviation. These electronic systems are majorly used on aircraft. Avionic systems comprise navigation, communications, the management and display of numerous systems, and the manifold systems that are fixed to aircraft for performing discrete operations. Besides these, they also comprise infrared threat and electro-optic sensors, secure tactical communications, activity monitors, countermeasures dispensers, weapons trackers, and other assimilated electronic support, attack, and protection capabilities.
Military Aircraft Avionics Market is expected to reach USD 54.5 billion, growing at a CAGR of 4.4% during the forecast period owing to the increasing adoption of aircraft upgradation programs by the militaries across the globe. Also, rising investments for global militaries is also boosting the growth of Military Aircraft Avionics Market in the forecast period.
Military Aircraft Avionics Market is classified based on the Type into General Aircraft Avionics and Mission-Specific Avionics. The Mission-Specific Avionics segment dominated the global Military Aircraft Avionics Market share in the past years and is expected to maintain its dominance throughout the forecast period. The growth can be ascribed to the rising need for military aircraft avionics with advanced technology for specialized missions like maritime patrol, electronic warfare, Anti-Surface Warfare (ASW), and Airborne Early Warning Control System (AEW/C).
Military Aircraft Avionics Market is classified based on the Application into Aerospace Corporation, National Defense Organization, Government Authority, Defense Company, Research Institutions, and Regulators. In terms of revenue share, the Aerospace Corporation segment led the Military Aircraft Avionics Market during the previous years. Rising defense expenditure by the United States, India, China, and Russia is likely to maintain the segment's control during the forecast period. Moreover, the industry growth is anticipated to be supported by the rising demand for high-tech aircraft with cutting-edge systems throughout the projection period.
Development of Advanced Avionics to Replace the Old Systems is Expected to Boost the Market Growth
In the past few years, the industry has seen military aircraft purchase and development activity owing to the rising defense spending by numerous countries throughout the world. This factor is considerably driving the Military Aircraft Avionics Market. Older military aircraft's avionics systems need to be replaced due to the development of novel and improved avionics. The aircraft is supported by these advanced avionics suites to fulfill the demands of the modern battlefield, including long-range target tracking and identification, secrecy, and protection of electronic warfare. Therefore, armed forces are developing superior and advanced programs to upgrade the avionics suites in the sector of military aircraft to stay ahead of allies and rivals.
Growing Investments and Rising Demand for Improved Infrastructure are Expected to Boost the Market Growth
To update and enlarge their fleets, some key nations are developing and acquiring next-generation military aircraft. This is projected to motivate investments in mission computers and the next-generation of avionics. Also, the industry is being positively impacted by the rising need for active inceptor systems, electronic warfare suites, and vehicle management computers.
Significantly Priced Avionics Systems and Costly Research & Development May Restrain the Market Growth
The costly furnishing of current aircraft is hindering the growth of the Military Aircraft Avionics Market. Another significant restriction on the market over the projection period may be the expensive cost of the Avionics system for military and overpriced research and development.
Military Aircraft Avionics Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North American region registered for the major industry share and is expected to hold the leading position by creating the largest size of Military Aircraft Avionics Market. Successive notable players have contributed to this region's increased prominence. The highest CAGR is anticipated to be recorded in the Asia-Pacific region throughout the study period. This region is witnessing an increase in demand from the global market, due to increasing military expenditure by developing nations like China.
The implementation of lockdown and social segregation practices by governments in various parts of the world had an impact on the Military Aircraft Avionics Market. The administration made an effort to avoid deploying armed forces during the COVID-19 epidemic to stop the spread of Coronavirus. Hence, there has been a decrease in the use of military aircraft, and military movements have slowed down. The disturbance in the supply chain also caused a delay for processing and procurement for the COVID-19 pandemic.
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 4.4% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Type |
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Application |
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End User |
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By Region |
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Military Aircraft Avionics Market size was estimated at USD 33.81 billion in 2021 and is expected to reach USD 54.5 billion in 2032.
Avionics is a combination of electronics and aviation. These electronic systems are majorly used on aircraft. Avionic systems comprise navigation, communications, the management and display of numerous systems, and the manifold systems that are fixed to aircraft for performing discrete operations.
Mission-Specific Avionics and Aerospace Corporation segments accounted for the largest Military Aircraft Avionics Market share.
Key players: Lockheed Martin Corporation, Honeywell Aerospace, Collins Aerospace, Thales Group, GE Aviation, L-3 Avionics Systems, Elbit Systems, Curtiss-Wright, ENSCO Avionics, ForeFlight, Avidyne, Aspen Avionics, Sagetech, Hilton Software, Xavion, and Other Prominent Players are the key players in the Military Aircraft Avionics Market.
Growing demand for improved Avionics Systems and rising investments for modernization of defense are the factors driving the Military Aircraft Avionics Market.
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