Asia-Pacific Aircraft Avionics Market: Market Analysis By Industry Growth, Market Size, Share, Demand, Trends and Research Report and Forecast: 2022-2031

The Asia-Pacific aircraft avionics market is expected to register a CAGR of over 5% during the forecast period.

– Asia-Pacific is the fastest-growing aviation market in the world until 2022. Countries in the region, like India, China, Indonesia, and Vietnam are among the fastest-growing aviation markets in the world. Though the commercial aviation industry is severely affected by the Covid-19 pandemic, a huge order backlog for commercial aircraft from the airlines in the Asia-Pacific shows that the demand for avionics will still increase in the commercial segment in the years to come.
– The market is expected to grow in the military sector primarily due to the large-scale developments in the aircraft navigation and communication systems, which are expected to result in several militaries upgrade their avionics to ensure that their aircraft fleets are combat-ready.

Key Market Trends

Commercial Aircraft Held the Largest Market Share in 2022

The market in the Asia-Pacific region is dominated by the commercial aircraft segment, driven by the growth in commercial airline passengers resulting in large-scale procurement of commercial aircraft. Growth in tourism has also been defining the state of the commercial aviation market in the region. Countries, like Indonesia, Malaysia, Vietnam, Thailand, and Singapore, among others, have been attracting massive passengers from various areas around the world, making the airlines introduce new routes and add new aircraft to their fleet. The region had the highest commercial aircraft deliveries in 2019, with many airlines in the region ordering commercial aircraft, especially narrow-body aircraft, due to the growth in LCCs in the region. This, in turn, is expected to generate demand for commercial aircraft avionics in the region during the forecast period. Airbus A320 family of aircraft is one of the most sold aircraft in the region in 2019. Collins Aerospace, Panasonic Avionics Corporation, Thales Group, Cobham, Honeywell, L3Harris Technologies, Teledyne Corporation are some of the avionics suppliers for the A320 aircraft family. Thus, the growing procurement of commercial aircraft is expected to result in a growth in revenues for the commercial aircraft avionics providers for the aircraft, thereby resulting in the growth of the segment during the forecast period.

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China is Expected to Dominate the Market During the Forecast Period

During the forecast period, China is projected to dominate the market by growing with the highest CAGR. The country also accounted for the highest market share in terms of geography in 2019. Several airlines in the country are planning to increase their aircraft fleet and have several aircraft on order. China Southern Airlines plans to more than double the size of its fleet to 2,000 aircraft by 2035. Under the fleet expansion plan, the airline received first of 20 A350-900 in June 2019 as a part of the purchase agreement with Airbus signed in April 2017. On the other hand, the Chinese aerospace manufacturer, COMAC, is currently developing its own narrow-body aircraft, C919, to compete with Airbus and Boeing in the narrow-body aircraft segment. As of June 2019, COMAC received over 1,000 aircraft orders for its C919, with the majority of the orders from airlines based in China. The first aircraft is expected to enter service with China Eastern Airlines this year. Also, in the military segment, China has been deploying a large number of aircraft, in line with its plans to strengthen its airborne military capabilities.

Competitive Landscape

Collins Aerospace (Raytheon Technologies Corporation), Honeywell International Inc., Thales Group, L3Harris Technologies, Inc., and Cobham PLC are some of the major players in the market studied. With the competition growing in the industry, innovation becomes the key factor for the players for standing out in the competition in the long run. As most of the contracts are for the long-run, it becomes difficult for the new players to enter and sustain the competition from established players in the market. Thus, increased investment into R&D and partnerships with prominent market players can help smaller companies to sustain in the market during the forecast period. The advent of the Covid-19 pandemic has resulted in severe supply chain gaps, and major players may look for local suppliers to continue their production. This can be a good opportunity for local component manufacturers to enter the market.

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