CNS, Commercial

Avascent Market Report Sees Steady Growth for Commercial Avionics Equipment

By Juliet Van Wagenen | July 22, 2015
Send Feedback

[Avionics Today 07-22-2015] Market analysis firm Avascent has released a report that finds the global market for commercial avionics equipment is set to grow at a 3 percent Compound Annual Growth Rate (CAGR) through 2020. A reported $20 billion will be spent on avionics systems for fixed-wing commercial aircraft in 2015 alone.

Avascent’s 20-year delivery forecast reflects greater confidence in aircraft manufacturers’ ability to fill delivery slots for last off-the-line, “current engine” narrow-body aircraft during the 2016 to 2019 timeframe, extending the transition period to new-engine variants such as the A320neo and 737MAX.

The market for avionics spares equipment for air transport aircraft is also forecasted to grow faster than previously anticipated, with at a 5.3 percent CAGR during 2015 through 2020 to reach roughly $4.2 billion in 2020.

Original equipment for air transport aircraft, however, will exhibit a more modest growth rate of 2.3 percent to reach $11.3 billion in 2020. Avascent expects the market for turboprop aircraft equipment to grow 5.5 percent annually, with turboprop aircraft original avionics equipment projected to total $350 million in 2020.

Receive the latest avionics news right to your inbox