As per the report titled ‘Asia Pacific Aerospace Avionics Market Size, By System, Application, End-Use, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report, Asia Pacific aerospace avionics market is projected to cross a valuation of USD 21 billion by the year 2025.
 

Increasing number of air passengers, and sustaining investments in military aviation in developing nations such as China and India are the major growth propellers of Asia Pacific aerospace avionics market, cites the study. 
 

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Based on system, Asia Pacific aerospace avionics market forecasts projects communication systems segment to expand at a yearly growth rate of 5% during the forecast period. Benefits like efficient and seamless communication, safer flight experience, and entertainment access are driving the product demand. Moreover, industry players are entering into strategic partnerships and agreement with government firms for production and installation of advanced communication systems in aircraft, thereby enhancing the segmental share.
 

Elaborating on the application spectrum, business Jet & general aviation segment in Asia Pacific aerospace avionics market is slated to experience a CAGR of over 5% through 2026. Regulations and mandates by authorities for installation of avionics are contributing to the segment growth.
 

Speaking of the end-use spectrum, original equipment manufacturer (OEM) segment is anticipated to register a y-o-y growth rate of 4% over the projected timeline. The growth is attributable to increasing orders for aircrafts by airlines to manufacturers. Further, rise in demand for advanced avionics systems is enhancing the overall business outlook.
 

Key players influencing Asia Pacific aerospace avionics market trends are Safran, Raytheon Company, Panasonic Corp., Nucon Aerospace, Northrop Grumman Corp., Meggitt plc, L3Harris Technologies, Inc., Honeywell International Inc., Harris Corp., GE Aviation, Garmin Ltd., Elbit Systems Ltd., Cobham plc, and Ball Corp.