This research study on the avionics market involved the extensive use of secondary sources, directories, and databases such as Hoovers, Bloomberg BusinessWeek, and Factiva to identify and collect information relevant to the market. Primary sources included industry experts, service providers, manufacturers, solution providers, technology developers, alliances, and organizations related to all segments of this industry's value chain. In-depth interviews with primary respondents, including key industry participants, subject matter experts, industry consultants, and C-level executives, were conducted to obtain and verify critical qualitative and quantitative information about the avionics market and assess the market's growth prospects.
Secondary Research
The market share of companies in the avionics market was determined using the secondary data acquired through paid and unpaid sources and analyzing the product portfolios of major companies operating in the market. These companies were rated based on the performance and quality of their products. Primary sources further validated these data points.
Secondary sources referred to for this research study on the avionics market included government sources, such as GAMA (General Aviation Manufacturer Association), FlightGlobal Commercial Avionics Consensus (2021), International Air Transport Association (IATA), Boeing Outlook 2023, Airbus Outlook 2023, and federal and state governments of various countries; corporate filings, such as annual reports, investor presentations, and financial statements; and trade, business, and professional associations; among others. Secondary data was collected and analyzed to determine the overall size of the Avionics market, which was further validated by primary respondents.
Primary Research
Extensive primary research was conducted after acquiring information regarding the Avionics market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East, and ROW, which includes Africa and Latin America. Primary data was collected through questionnaires, emails, and telephonic interviews.
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Market Size Estimation
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Both top-down and bottom-up approaches were used to estimate and validate the size of the avionics market.
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Key players were identified through secondary research, and their market ranking was determined through primary and secondary research. This included a study of annual and financial reports of the top market players and extensive interviews of leaders, including CEOs, directors, and marketing executives.
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All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated, enhanced with detailed inputs, analyzed by MarketsandMarkets, and presented in this report.
Market size estimation methodology: Bottom-up Approach
Market size estimation methodology: Top-down Approach
Data Triangulation
After arriving at the overall size of the avionics market from the market size estimation process explained above, the total market was split into several segments and subsegments. Wherever applicable, data triangulation and market breakdown procedures explained below were implemented to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the market size was validated using both top-down and bottom-up approaches.
Market Definition
Avionics refers to the electronic systems used in aircraft, encompassing communication, navigation, flight control, and monitoring systems. It involves integrating hardware and software for functions like radar, GPS, autopilot, and cockpit displays. Avionics ensures safe and efficient flight operations, enabling communication with air traffic control, navigation, weather detection, and precise aircraft control. These systems are critical for flight safety, improving situational awareness, and enhancing the overall performance of both commercial and military aircraft.
The market is driven by the constant evolution of technology, leading to the development of advanced avionic systems that contribute to fuel efficiency, reduced maintenance costs, and enhanced situational awareness. Growing demand for modernized aircraft, increased air travel, and the imperative for regulatory compliance further propel the avionics market.
The recent current-generation aircraft features state-of-the-art digital avionics based on sophisticated sensor technologies that monitor and report even a small deviation in the required flight parameters. The market is projected to grow on account of the adoption of digital cockpit systems onboard new-generation aircraft and the modernization of existing fleets to attain specified safety levels globally.
Stakeholders
Various stakeholders of the market are listed below:
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Government Authorities
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Regulatory Bodies
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R&D Companies
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Commercial aircraft manufacturers
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Subsystem manufacturers
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Providers of avionics solutions and services
Report Objectives
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To define, describe, and forecast the size of the avionics market based on platform, fit, system, and region from 2023 to 2030
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To forecast the size of market segments with respect to five major regions, namely North America, Europe, Asia Pacific, the Middle East, and the Rest of the world
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To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the market
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To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the market
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To analyze opportunities for stakeholders in the market by identifying key market trends
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To analyze competitive developments such as contracts, acquisitions, expansions, agreements, joint ventures and partnerships, product developments, and research and development (R&D) activities in the market
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To provide a detailed competitive landscape of the -market, in addition to an analysis of business and corporate strategies adopted by leading market players
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To strategically profile key market players and comprehensively analyze their core competencies2
1 Micromarkets are referred to as the segments and subsegments of the Avionics markets considered in the scope of the report.
2 Core competencies of companies were captured in terms of their key developments and key strategies adopted to sustain their positions in the market.
Available customizations
Along with the market data, MarketsandMarkets offers customizations as per the specific needs of companies. The following customization options are available for the report:
Product Analysis
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Product matrix, which gives a detailed comparison of the product portfolio of each company
Regional Analysis
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Further breakdown of the market segments at the country level
Company Information
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Detailed analysis and profiling of additional market players (up to 5)
Valentin
Apr, 2019
Topics: General aviation retrofit, forward-fit, and/or conventional gauges market values for piston engine (only) aircraft. Avionics, more specifically electronic flight instrument systems (EFIS). Data: Market share, number of tails, growth rates, sales history, etc. Thank you in advance!.