Research Nester’s recent market research analysis on “Customized Avionic Systems Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global Customized Avionic Systems market in terms of market segmentation by sub-segment type, platform, application, and by region.
Growing Integration of Advanced Avionic Suites to Promote Global Market Share of Customized Avionic Systems
New opportunities for customization have arisen as a result of the ongoing development of avionic technology, including navigation, communication, surveillance, and cockpit display systems. In 2019, multifunction displays for aviation cockpit display systems held the greatest market share in Russia, and by 2026, their value was projected to rise by almost USD 5 million. The second-largest section, primary flight displays, with a value of USD 10 million in 2019. These developments enable the aviation sector to satisfy its changing expectations by integrating state-of-the-art features and capabilities into aviation systems. Additionally, innovation and customization are spurred by the market's intense competition in avionic systems. Manufacturers aim to set themselves apart from the competition by providing distinctive and customized solutions, drawing in clients who value customized choices.
Some of the major growth factors and challenges that are associated with the growth of the global Customized Avionic Systems market are:
Growth Drivers:
• Growing Collaboration between the Companies
• Growing Investment in Aviation Security Systems by the Government
Challenges:
The ongoing advancement of lightweight components and subsystems necessitates the replacement of systems prematurely to keep up with technological advancements. For instance, in order to stay up with changing trends and drastically reduce weight without compromising feature sets, CRT technology was replaced within 15 years by LCD and later by LED. Operators had to fork out substantial replacement costs as a result in order to guarantee that their fleet was modernized in accordance with global regulations and permitted to operate anywhere. As a result, this element can prevent the market from growing.
Some other factors such as complexity & certification challenges and limited replacement cycles may hinder the growth of the customized avionic systems market.
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By platform, the global Customized Avionic Systems market is segmented into fixed wing aircraft and rotary wing aircraft. The fixed wing aircraft segment is poised to hold the largest share of 54% during the forecast period. The fixed wing aircraft segment now holds a larger share due to the increasing need for commercial aircraft to transport people on international flights. Air traffic has increased significantly in developed nations such as the US, Canada, and the UK in recent years due to the growing number of people opting to travel by air. For example, approximately 373.7 million people traveled by air in the European Union (EU-27) in 2021. Although this represents a 35% rise over 2020, the number of passengers traveling by air in 2021 was still far lower than it was before the epidemic. The demand for aircraft is rising steadily as a result, particularly from airlines that operate in developing countries. The growing number of aircraft in the military and commercial sectors necessitates routine maintenance and repair procedures.
By region, the North America Customized Avionic Systems market is expected to hold a share of 36% by the end of 2036. The existence of significant manufacturers and big OEMs is the primary factor driving the nation's requirement for avionic systems. Furthermore, there is a noticeable surge in the usage of UAVs for non-military purposes in the region. For example, the current value of UAV production for commercial use, specifically mini-UAVs, is USD 58.4 million. Owing to these factors, the North American region is the market leader for customized avionic systems globally.
This report also provides the existing competitive scenario of some of the key players of the global Customized Avionic Systems market which includes company profiling of Indra Company, Lufthansa GrouP, L3Harris Technologies, GE Aerospace, Boeing, SkyDrive Inc., Panasonic Avionics Corporation, Japan Airlines Co., Ltd., KDDI SmartDrone Co., Ltd., Mitsubishi Heavy Industries and others.