Global Commercial Aerospace Avionics Market Forecast to Grow at 3.9% CAGR to $8.3 Billion By 2020

Reportlinker.com announces that a new market research report is available in its catalogue: Global Commercial Aerospace Avionics Market Analysis and Outlook 2013-2020

The global commercial aerospace avionics market is expected to reach $8.3 billion by 2020, with a moderate CAGR of 3.9% during the forecast period. Despite the adverse economic conditions that have prevailed, total industry sales grew during the last six years. In terms of dollar value, communication network and navigation is the largest segment in the commercial avionics market, followed by control systems, radar and surveillance, and display systems. North America holds the largest share of revenue, followed by Europe.

Lucintel, a leading global management consulting and market research firm, has conducted acompetitive analysis on the different regional and industrial segments of the commercialaerospace avionics market and presents its findings in "Global Commercial AerospaceAvionics Market Analysis and Outlook 2013-2020." The industry is highly regulated, especiallyregarding the safety of its products. The result is that the industry has particularly high entrybarriers because of capital and regulatory requirements.

Lucintel's study reflects that the industry faces a challenge from the long product development lead-time, which stymies capital circulation as it becomes fixed in a particular product. Avionics are costly products, requiring a huge capital commitment. As a result, until the delivery of the aircraft, that amount cannot be used for any other purpose. The commercial aerospace avionics market is highly technology driven. To develop new product with better technology and bring it back to the market requires a lengthy process.

Increasing population, urbanization, increasing disposable income and traffic growth in theexisting route network are increasing the demand for new aircraft because adding capacity ismore efficient than adding frequency. The aircraft are upgraded with new avionics such as GPSsystems, glass cockpits, and controls with touch screen panels are manufactured, which areexpected to replace existing manual avionics.

This unique report from Lucintel will provide you with valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your own personal research time and will significantly benefit you in expanding your business in this market. In today's stringent economy, you need every advantage that you can find.

To order this report:Aerospace_and_Defense Industry: Global Commercial Aerospace Avionics Market Analysis and Outlook 2013-2020

Source: http://www.reportlinker.com/

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Report Linker. (2019, February 09). Global Commercial Aerospace Avionics Market Forecast to Grow at 3.9% CAGR to $8.3 Billion By 2020. AZoM. Retrieved on October 17, 2021 from https://www.azom.com/news.aspx?newsID=36463.

  • MLA

    Report Linker. "Global Commercial Aerospace Avionics Market Forecast to Grow at 3.9% CAGR to $8.3 Billion By 2020". AZoM. 17 October 2021. <https://www.azom.com/news.aspx?newsID=36463>.

  • Chicago

    Report Linker. "Global Commercial Aerospace Avionics Market Forecast to Grow at 3.9% CAGR to $8.3 Billion By 2020". AZoM. https://www.azom.com/news.aspx?newsID=36463. (accessed October 17, 2021).

  • Harvard

    Report Linker. 2019. Global Commercial Aerospace Avionics Market Forecast to Grow at 3.9% CAGR to $8.3 Billion By 2020. AZoM, viewed 17 October 2021, https://www.azom.com/news.aspx?newsID=36463.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit