Avionics market to grow 4.99% to 2030, study predictsNews
December 02, 2022
DUBLIN. The global market for military avionics -- electronic systems in military aviation that enable pilots and crews to perform such operations as combat, command and control, ISR [intelligence, surveillance, and reconnaissance], and radar tasks -- is projected to register a CAGR of 4.99% over the period 2022 to 2030, according to a report from Research and Markets, "Military Avionics -- Market and Technology Forecast to 2030."
According to the study authors, the military avionics market is dominated by companies based in the U.S. and European Union. From 2023 on, the study reveals, the fastest-growing market will be Asia-Pacific, as the governments of Australia, China, and India continue to pour billions of dollars into the industry.
In terms of military avionics subsystems, the study predicts that mission systems will account for one of the largest pieces of the industry pie across the globe.
For more information visit the Research and Markets website.