The term commercial avionics system comprises the study of several subsystems which include flight management, health monitoring, electrical & emergency, navigation & surveillance system and communication. In addition, there are different key advantages of commercial avionics such as it may be utilized to decrease the fuel burn and extend structural life, it depletes the pilot workload, it can also improve the safety and reliability through reconfiguration following damages or failures and it also supports in escaping accidents by finishing the loop around aircraft performance. Not only has this, the players of this market are registering the significant market growth more actively while developing the working technologies for doing effective management and monitoring for providing better consumer satisfaction and offering effective communications services which further become effective for dominating the highest value of market share across the globe in the coming years more increasingly.
According to the report analysis, ‘Global Commercial Avionics Systems Market Size study, by Sub-System (Flight Management System, Flight Control System, Health Monitoring System, Electrical & Emergency System, Communication, Navigation and Surveillance Systems), by Aircraft Type (Narrow Body Aircraft, Wide Body Aircraft, Regional Jets) and Regional Forecasts 2018-2025’ states that there are several key players which are presently functioning in this sector more enormously for registering the highest market growth and acquiring the handsome amount of market share while improving the techniques of producing the product and outcomes for increasing the digits of the revenue across the globe includes United Technologies Corporation, Thales Group, GE Aviation, Garmin Ltd., Rockwell Collins, Honeywell International Inc., L-3 Communication Holdings Inc., Panasonic Avionics Corporation, Universal Avionics System Corporation, Teledyne Technologies Inc., and several others. Moreover, many of the focused players of this market are benefitted with the strategies of joint ventures, partnerships and mergers and acquisitions for ruling across the globe and dominating the handsome amount of share in the short span of time more enormously which further increase the amount of profit.
On the basis of region, the market is spread across the globe which includes Asia Pacific, North America, Europe, Latin America and Rest of the World. While, the North America is the leading/significant region across the globe in terms of market share 42.4% in 2015 owing to technological advancements and a development state of economic development. Moreover, the Europe also contributes a satisfactory growth in the global commercial avionics system market. Asia Pacific also expected to exhibit higher growth rate / CAGR over the forecast period of 2018-2025 owing to increasing awareness about the commercial avionics. Furthermore, the major fueling factor of global Commercial Avionics Systems market are increase in numbers of aircraft deliveries and surging requirement for the real time data. In addition, technological advancement and new innovations is also a foremost driving factor in the market of commercial avionics. Therefore, in the near future, it is anticipated that the market of commercial avionics systems will increase across the globe more positively over the recent coming years.
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Ankur Gupta, Head Marketing & Communications