Scope of the Study
The global avionics software is expected to grow at a slow pace during the forecast period, according to the AMA study. This is owing to the current aviation industry crisis due to the coronavirus pandemic across the world wherein the aviation industry is expected to witness reduction in revenue of approximately USD 63-113 billion in 2020. In addition stopped & suspended development & production of new avionics systems due to stringent government regulations worldwide to avoid the spread of COVID-19 is expected to be one of the major challenges for short term in the industry.
The market study is being classified, by Application (Commercial Aviation, Military Aviation and Others) and major geographies with country level break-up.
Cyient (India), Genova Technologies (United States), Icterra (Germany), Moog Inc. (United States), Talent GPS (India), Lynx Software Technologies (United States), Ramco Systems (India), Mitacs (Canada), Seabury Solutions (Ireland), GE (United States) and Rusada (Switzerland) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on development of new & innovative solutions in order to remain competitive in the global market. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Avionics Software market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Avionics Software market by Type, Application and Region.
On the basis of geography, the market of Avionics Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Adoption of Automated Systems Required for Avionics in Aircraft Industry which Generates the Demand for Avionics Software
- the Rising Adoption of New Generation Flight Management Systems
- Growing Production & Deliveries of Aircraft Across the World
- Implementation of Artificial Intelligence in Avionics Software
- The Suspension of Worldwide Flights, Suspension of Production of New Avionics Systems, and Suspended Production of Aircraft Across the World is Becoming One of the Major Short Term Restraints for the Industry
- Expected Deliveries of More than 36,000 Commercial Aircraft Across the World During the Next 20 Years
- The Outbreak of COVID-19 is Expected to Decrease the Growth of the Market For the Next Few Years Due to Suspended Transportation of Passengers or Goods Across the World
Market Leaders and their expansionary development strategies
In May 2018, GE Aviation announced that it has expanded its partnership by forming a joint venture through GE’s acquisition of an ownership interest in Avionica.
In April 2019, GE Aviation accounced that it has introduced a new advanced avionics computer specifically built for military and commercial unmanned vehicles which provides an open architecture design that integrates vehicle management and advanced mission processing into a compact, lightweight design and incorporates a hardware and software open architecture approach that offers flexibility and scalability.
Stringent Worldwide Government Regulations Regarding Suspension of Air Transportation & Aircraft Production to Avoid the Spread of COVID-19
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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