The Avionics Market is projected to grow at a CAGR 4.12% during the forecast period from 2021 to 2026. Growth in the retrofit aircraft market is a major factor driving the growth of the avionics market. Due to up gradation of aircraft with new technologies, scheduled maintenance operations of aircraft, and significant fuel saving are expected to drive the growth of the avionics market.

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The largest contributor to the avionics market during the forecast period is the commercial aviation segment. This growth can be attributed to factors such as increasing air travel, the rise in disposable income of the middle-class population, and increased international trade and tourism across the globe. Strong growth in this sector has resulted in an increased number of aircraft orders to address the increasing air passenger traffic.

The prominent players in the global Avionics Market are Safran (France), Curtiss-Wright (US), Esterline Technologies (US), Honeywell (US), Meggitt (UK), Thales Group (France), and United Technologies Corporation (Collins Aerospace) (US).

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