Avionics Market Set to Soar to $81.8 Billion by 2030 Driven by Rising Aircraft Production and Advancements in Navigation Systems
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Global avionics market estimated to grow from $43.4 billion in 2023 to $81.8 billion by 2030, at a CAGR of 9.5%
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Line fit avionics has highest share of 91.3% due to increasing demand for commercial and military aircraft
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North America is a major market driven by military modernization efforts and retrofits to enhance performance of existing fleet
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Navigation systems surpass other segments due to advancements in GNSS technologies and terrain awareness capabilities
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Market growth driven by rising aircraft production, growing commercial and military fleets, need for enhanced safety and situational awareness