According to the UnivDatos Market Insights Analysis, growing investments in the avionic sensors for improving operational efficiency and predictive maintenance applications, the sector will surge in demand for the Global Next Generation Avionics market, which will drive the global scenario of the “Global Next Generation Avionics Market” report; the global market was valued at USD 2,510 million in 2023, growing at a CAGR of 10.21% during the forecast period from 2024 - 2032 to reach USD million by 2032. The aviation industry in the North American region has been one of the major markets adopting Next Generation Avionics due to the higher availability of companies offering aircraft manufacturing and services associated with them. Additionally, the region is also a leader in the aviation industry, which has led to higher research & development needs to develop new-generation aircraft, leading to the demand for robust next generation avionics in the region.
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Next Generation Avionics Market Overview in North America:
North America Next Generation Avionics market has held the major market share across the globe. Some of the key factors that have contributed to the growth are the presence of the largest commercial and military aircraft fleet requiring maintenance, repair, and overhaul activities on a regular basis. The North American aviation industry is further anticipated to rise due to massive orders being placed by the leading aviation companies in recent years. For instance, in 2024, American Airlines ordered 260 new aircraft from Airbus, Boeing and Embraer. With the massive purchase, the airline is looking forward to expanding its international operations for trans-Atlantic operations.
Boeing is one of the key manufacturers that has a vast list of unfilled orders, YTD deliveries, etc. For instance, according to Boeing, total unfilled orders for 737, 767, 777, and 787 models were 4763, 96, 539, and 790 units till 5/31/2024.
Considering the vast unfilled orders that are to be delivered in the coming years, the demand for next generation avionics for operational efficiency and pilot training is anticipated to rise in the forecasted years, i.e., 2024-2032.
Additionally, the region is also a pioneer in terms of aircraft research and development, which has noticeably assisted in the development and testing of new-age aircraft and paved the way for Next Generation Avionics market.
Growing Demand and Industry Trends:
The growing demand for electric and vertically-takeoff and landing aircraft is one of the key shifts for the aviation industry which would be crucial for the demand for next-generation avionics. These new-age aircraft use electric powertrains to offer a consistent energy output to the avionics systems and are proven to be highly fuel-efficient.
With the growing need for eVTOL aircraft integrated with predictive systems, AI diagnostics, and maintenance in the aviation industry, the demand for Next Generation Avionics in this particular category is anticipated to find rapid growth, subsequently improving its market in the coming years.
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Future Prospects and Opportunities:
Retrofit is one of the key markets that would help increase the demand for next-generation avionics in both commercial as well as in military aircraft. As an aircraft’s airframe generally outclasses the life of avionics and requires one to two major overhauls in terms of making it more suitable to new-age technologies, the demand for advanced avionics comes into the picture. These new-age avionics not only improve the operational efficiency of the aircraft but also help it to provide significantly better fuel efficiency. Considering these advantages many of the leading air forces across the globe have announced their plans to undertake major overhaul plans to upgrade their existing military fleet. For instance, in 2024, the government of India announced its plans to upgrade the existing Su-30MKI fleet with a total cost of USD 7.4 billion (INR 60,000 crores). Various new systems such as new radars, engines, electronic warfare suites, new and improved avionics, etc., would be integrated into the existing 272 aircraft to make it more future and combat-ready.
With the growing need for improved avionics through retrofitting in the aviation industry, the demand for Next Generation Avionics in this particular category is anticipated to find rapid growth, subsequently improving its market in the coming years.
Conclusion:
In conclusion, North America's Next Generation Avionics market reflects a dynamic and evolving landscape supported by government investment, industry collaboration, and technological innovation. As the region continues strengthening its aviation industry and its effectiveness through investment increases, regulatory frameworks, and strategic partnerships, it is well-positioned to navigate challenges and capitalize on emerging opportunities in the aircraft manufacturing industry.
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