Global Military Aircraft Avionics Market 2015-2019
About aircraft avionics
Avionics is electronic systems used to communicate, navigate, and support various flight-critical applications in an aircraft. They are the most expensive and highly critical components in modern aircraft. Modern avionics systems also aid in improved navigation and routing, provide enhanced situational awareness to pilots, and improve the air traffic management (ATM) process.
Technavio's analysts forecast the global military aircraft avionics market to grow at a CAGR of 2.14% over the period 2014-2019.
Covered in this report
In this report, Technavio covers the present scenario and growth prospects of the global military aircraft avionics market for 2015-2019. The report provides a global overview of the market and the growth prospects by region (Americas, APAC, and EMEA). It also presents the market landscape and a corresponding analysis of the prominent vendors in the market. In addition, it discusses the major drivers influencing market growth, outlines the challenges faced by vendors and the market as a whole, as well as the key trends emerging in the market.
Technavio's report, Global Military Aircraft Avionics Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Military Aircraft Avionics Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Military Aircraft Avionics Market: Avidyne, GE, Honeywell, Rockwell Collins and Thales Group
Other Prominent Vendors in the market are: Aspen Avionics, Curtiss-Wright, Elbit Systems, ENSCO Avionics, ForeFlight, Hilton Software, L-3 Avionics Systems, Sagetech, Xavion, ZG Optique and Zodiac Aerospace
Commenting on the report, an analyst from Technavio’s team said: “The growing utilization of avionics in the military UAVs has been one of the positive trends in the market. Avionics systems such as SVS effectively handle military and commercial UAV operational challenges, including aircraft situational awareness, safety-of-flight, and tactical decision-making.”
According to the report, Military aircraft avionics systems are essential for flight operations and other aircraft control functions. Modern military aircraft are fitted with advanced avionics systems (such as SVS) to enhance their airborne capabilities. The rising demand for such systems is contributing to the market growth.
Further, the report states that, in the aftermath of the 2008 global economic crisis, there have been significant defense budget cuts in several countries including the US, which has the biggest defense expenditure in the world. Such budget cuts, along with a decrease in the number of troops and aircraft deployment, adversely affect the demand for military avionics systems.
Avidyne, GE, Honeywell, Rockwell Collins, Thales Group, Aspen Avionics, Curtiss-Wright, Elbit Systems, ENSCO Avionics, ForeFlight, Hilton Software, L-3 Avionics Systems, Sagetech, Xavion, ZG Optique, Zodiac Aerospace
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