Market Leader - Avionics Market
Avionics encompass all the electronic systems in an aircraft cockpit that control operations and ensure the safety of passengers. The avionics market size is projected to grow from USD 46.7 Billion in 2022 to USD 66.3 Billion by 2027, at a CAGR of 7.3% from 2022 to 2027. Aerospace Manufacturers are developing enhanced avionics system. There is the adoption of next-generation avionics systems, which are more efficient, durable, and technologically advanced.
Contracts, partnerships, agreements new product & service launches, mergers and acquisitions are among some of the key strategies adopted by the leading market players to strengthen and sustain their position in the avionics market.
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Major players operating in the avionics market include Raytheon Technologies Corporation (US), Curtiss-Wright Corporation (US), Honeywell Internationals Inc. (US), L3Harris Technologies Inc. (US), General Electric Company (US), Safran SA (France), BAE Systems PLC (UK), Meggitt PLC (UK) Astronautics Corporation of America (US), and Garmin Limited (US). These key players offer avionics market across different industries and have well-equipped and strong distribution networks across the North American, European, Asia Pacific, Middle East & African, and Latin American regions.
Raytheon Technologies Corporation
Raytheon Technologies Corporation is a leader in aerospace, intelligence services and defense technologies. The company focuses on strategies such as contracts and new product developments to expand its customer base and product portfolio. The company offers a wide range of avionics products through Collins Aerospace, a subsidiary of Raytheon Technologies Corporation. The company has a well-established strong supply chain network across the world.
Curtiss-Wright Corporation is another major player in the avionics market. It has a strong product portfolio to cater to the needs of the defense & commercial aircraft sector. The company operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval Power. The company provides the avionics products under the defense electronics segment. The company has the strong presence in North America. They also provide the wide range of avionics products to cater the demand of the commercial and defense aviation sector
Honeywell International Inc is a world leader in avionics market. It provides products and services in aerospace, automation & productivity, safety, advanced sensing technologies, industry chemical and materials. Honeywell International Inc have operational facilities in US, Europe, Asia Pacific, Middle East & Africa, and Latin America. Honeywell International Inc. has a strong presence in the avionics market. The company has become a significant player in the field of aerospace, performance material and technologies, safety, and productivity solution, building technique.
L3Harris Technologies, Inc. is one of the leading manufacturers and supplier of maritime vessels and ground vehicles. L3Harris Technologies Inc. is a leading high-technology company, with its main operations in integrated mission system, space and airborne systems, communication systems and aviation systems. The company offers products across the land, naval, air, and space domains. Avionics products are offered under the space and airborne segment. L3Harris Technologies Inc. have operational facilities in US, Europe, Asia Pacific, Middle East & Africa, and Latin America
General Electric Company offers the wide variety of products through aviation, healthcare, renewable energy, and power segment. The company regularly invests in R&D and develops news products for the customers. The company expands it global customer base through contracts. The company strategies to create the right mix of products and solutions to address the changing demands of the consumers allow GE to become more effective and more focused on project execution, marketing, and sales. The company has the operational facilities in North America, Middle East, Asia Pacific, and Europe.
Related Reports:
Avionics Market by System (Navigation, Payload & Mission Management, Traffic & Collision Management, Communication, Power & Data Management, Weather Detection, Flight Management, Electronic Flight Display), Fit, Platform & Region - Global Forecast to 2027
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