Market Size of Military Aircraft Avionics Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 38.24 Billion |
| Market Size (2029) | USD 47.32 Billion |
| CAGR (2024 - 2029) | 4.35 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Military Aircraft Avionics Market Analysis
The Military Aircraft Avionics Market size is estimated at USD 38.24 billion in 2024, and is expected to reach USD 47.32 billion by 2029, growing at a CAGR of 4.35% during the forecast period (2024-2029).
In 2020, military aircraft deliveries decreased significantly due to the impact of the COVID-19 pandemic on the supply chain of certain aircraft programs. Nevertheless, the situation improved in 2021 for several military aircraft manufacturers worldwide. On the other hand, no visible impact was noted on the orders placed by various armed forces worldwide.
With the growth in defense spending by several nations across the globe, the industry has witnessed procurement and development activities for military aircraft in the last few years. This factor is currently driving the growth of the associated avionics market.
The development of new and advanced avionics is generating the need to replace old avionics systems in older military aircraft. These new avionics suites support the aircraft to meet the newer generation battlefield requirements like long-distance target detection and tracking, stealth, and electronic warfare defense. Therefore, to stay abreast of adversaries and allied military forces are devising modernization plans to upgrade the avionics suites in the military aircraft.
Furthermore, several countries are developing and procuring next-generation military aircraft to modernize and expand their fleets. This is also expected to drive the investments toward next-generation avionics and mission computers.
