[Avionics Today 09-14-2015] The global commercial aircraft avionics system market will grow at a Compound Annual Growth Rate (CAGR) of just under 5 percent between 2015 and 2019, according to a new report by Research and Markets. The report cites airspace modernization programs such as NextGen in the U.S. and Single European Sky ATM Research (SESAR) in Europe, which mandate various avionics system upgrades for commercial airlines, as a growth driver in the avionics market.
Also, according to the report, the market has grown significantly because of an increase in new aircraft orders. The number of aircraft sold worldwide is expected grow by 3.6 percent over the next 20 years. Additionally, growing demand from emerging markets drives growth. Africa, South America, and Asia Pacific are expected to account for the highest growth rates in air passenger traffic and will witness a rapid increase in aircraft fleet.
In terms of challenges, the report states that the introduction of new aviation systems and components, such as avionics systems, encounters various obstacles because of strict regulatory requirements. There are design constraints concerning avionics systems as there is a need for highly reliable and efficient systems while considering the need for reduced weight, volume and cost.