• About Us
  • Contact Us
  • Submit News Release
Saturday, April 1, 2023
No Result
View All Result
submit news
Oman News Club
  • BUSINESS
  • ENERGY
  • FINANCE
  • HEALTHCARE
  • LIFESTYLE
  • REAL ESTATE
  • TECH
  • TRAVEL
  • MIDDLE EAST
  • PRESS RELEASES
  • BUSINESS
  • ENERGY
  • FINANCE
  • HEALTHCARE
  • LIFESTYLE
  • REAL ESTATE
  • TECH
  • TRAVEL
  • MIDDLE EAST
  • PRESS RELEASES
No Result
View All Result
Oman News Club
Submit PR
Home PRESS RELEASES

Avionics Market To Achieve A High CAGR Of 7.3% From 2022 to 2027

by Newsroom Editor
September 29, 2022
Share on FacebookShare on Twitter


 


(EMAILWIRE.COM, September 29, 2022 ) 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. The need for aircraft modernization to improve operating safety and fuel economy is the factor propelling the adoption of avionics that will ultimately lower operational costs. Modern avionics systems are factory installed in new generation aircraft. The airlines and other end users are undertaking a fleet modernization initiative to upgrade the older aircraft fleet with modern avionics systems to match the service capabilities of the next generation aircraft.

Download PDF Brochure @

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=138098845

Based on the System, the navigation segment of the market is projected to dominate market share as the demand for associated components such as altimeter, air data computer is anticipated to grow at a rapid pace. Additionally, to fulfill demand, the major airline is increasing the size of their fleet, which is equipped with modern inertial reference units and air data computers that are integrated with other avionics systems to increase operational efficiency. The development of navigational tools through technology has greatly fueled this market’s expansion.

Based on Platform, the military aviation segment is projected to dominate market share due to the increasing defence spending of military superpowers like the US, China, and Russia is anticipated to result in increased demand for military aircraft, which will support the expansion of the military avionics market. Furthermore, new developments in military aircraft, such as the incorporation of fifth-generation technology, stealth technology, and advanced composite materials, will strengthen the market for military aircraft.

Based on Fit, the line fit aspect of the market dominates market share on account of the increasing number of deliveries to effectively cater to the rapidly growing passenger traffic. The fleet modernization plans are expected to be driven by the growing regulations that seek to improve the safety features given by aircraft and standardize the functions offered by certain types of aircraft.

Based on Region, North America accounted for the largest market share in 2022, and Latin America is projected to witness the highest CAGR during the forecast period. The market for avionic in the commercial and business aviation sectors in these regions is expected to benefit from the rising demand for air travel while the escalation of global geopolitical rift is driving the race for superiority in terms of military capabilities, evident from enhanced defence expenditure and investments in the modernization of various defence equipment of countries such as the US. Additionally, the increased investment in the R&D sector by the major OEMs to develop the technologically advanced avionics systems to meet the future aviation industry demand.

Ask for Sample Report @

https://www.marketsandmarkets.com/requestsampleNew.asp?id=138098845

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.



Source link

Previous Post

FINANCIAL HEALTH FOR RESTAURANTS AND RELATED BUSINESSES THE HIDDEN COSTS OF EMPLOYEE MGT

Next Post

Market Leader – Protective Clothing Market

Next Post
Market Leader – Protective Clothing Market

Market Leader - Protective Clothing Market

No Result
View All Result

Categories

  • BUSINESS (24)
  • ENERGY (37)
  • FINANCE (37)
  • HEALTHCARE (37)
  • LIFESTYLE (37)
  • MIDDLE EAST (85)
  • PRESS RELEASES (693)
  • REAL ESTATE (37)
  • TECH (22)
  • TRAVEL (20)

Recent.

Indian Embassy in Oman conducts yoga session on board INS Teg – India Narrative

March 30, 2023

Which countries have escaped the middle-income trap? – Yahoo Finance

March 30, 2023

Focus on the quality and quantity of sleep during Ramadan – Times of Oman

March 30, 2023

Subscribe to our Newsletter

    Share Us

    Categories

    Categories
    • BUSINESS
    • ENERGY
    • FINANCE
    • HEALTHCARE
    • LIFESTYLE
    • MIDDLE EAST
    • PRESS RELEASES
    • REAL ESTATE
    • TECH
    • TRAVEL

    Recent News

    Recent Posts
    • Indian Embassy in Oman conducts yoga session on board INS Teg – India Narrative
    • Which countries have escaped the middle-income trap? – Yahoo Finance
    • Focus on the quality and quantity of sleep during Ramadan – Times of Oman
    • Oman real estate: $1.2bn of property deals in February – Arabian Business

    About Us

    OmanNews.Club™ reports, publishes and aggregates business, Tech and lifestyle news on Oman the Middle East and the North Africa (MENA). 

    We provide press release distribution to media outlets in Oman, Arab countries and the (MENA) regions. Submit a press release or contact us today.

    Oman News is part of GroupWeb Media Network. @ 2023 GroupWeb Media LLC

    About Us / Contact Us / Submit News Release

    No Result
    View All Result
    • About Us
    • Cart
    • Checkout
    • Contact Us
    • Home
    • My account
    • Shop
    • Submit News Release
    • Test page

    Oman News is part of GroupWeb Media Network. @ 2023 GroupWeb Media LLC