The Global Commercial Aircraft Avionics market to grow at a CAGR of 5.09 percent over the period 2014-2020. The growth is primarily driven by increasing number of aircrafts in the APAC region. The market is shifting towards low maintenance components as MRO is an expensive affair and airlines are making efforts to cut it down drastically.
Avionics is a term derived from "AVIation" and "electrONICS and is defined as the electromechanical and solid-state components and systems installed in the cockpit and the electronics compartments, which aid pilots in the safe and efficient operation of an aircraft.
The commercial avionics market is highly relying on the larger commercial aviation market and particularly on the number of aircraft being delivered and flying. The more the number of aircraft, the more avionics will be procured by the aircraft original equipment manufacturers (OEMs).
With advances in technology the trend is to make aircrafts more electric by introducing plug & play systems thereby increasing the ease of use. The report explores the market in various Geographies across the world including North America, Europe, Latin America and APAC.
The following questions are comprehensively answered in this report:
What will the market size be in 2020 and how will it grow?
The trends prevalent in the market and key drivers?
What are the challenges being faced?
Who are the key players in this market space?
A SWOT analysis of the key players.