These new developments are expected to expand the global aerospace avionics market opportunities. Perigon computer is available for commercial or military use. ![]() Perigon is equipped with flexible configurability, advanced computing power, and open-system architecture. Perigon computer is designed to meet the vehicle management and future flight control demand. For instance, on July 20, 2021, Collins Aerospace, the leading aerospace and defense company based in the U.S., launched its Perigon computer, which is available for a wide range of defense and commercial platforms such as flight management systems. New innovations in the field of avionics are expected to generate significant opportunities to propel the aerospace avionics market demand. Such factors are anticipated to restrain the aerospace avionics market share in the upcoming years. This is a major risk especially in the defense applications that can pose severe consequences. For instance, the aerospace avionics system can be breached by a malware and unauthorized access that can breach the user’s confidential information. However, the aerospace avionics system is prone to security breach that can occur during the installation of the avionics software in the aircraft system. ![]() The increase in defense spending for the development and procurement of navigation systems, flight management systems, communication systems, and surveillance systems required for defense aviation is expected to contribute to the expansion of the global aerospace avionics market. ![]() According to the Stockholm International Peace Research Institute (SIPRI), the leading organization that conducts research on armaments, conflict, and disarmament, the global defense spending will reach $1981 billion in 2021. The growing need to upgrade existing avionics systems such as aircraft monitoring systems, flight control, navigation, and communication systems, in order to make them more technologically advanced is projected to boost the market of the aerospace avionics market. Global Aerospace Avionics Market Analysis These developments are expected to boost the technological segment of the global aerospace avionics market growth. The coronavirus epidemic has compelled companies in the aerospace avionics industry to adopt new methods of operation, such as the use of predictive analytics to accurately forecast losses and virtual production monitoring. These elements are expected to have a negative impact on market growth. For instance, during pandemic the aerospace avionics manufacturers had experienced significant shortage and delays in the availability of critical components required in the manufacturing of avionics equipment such as flight management systems, weather systems, engine health monitoring, and others, impeding the growth of the aerospace avionics market. The global industrial production was hampered due to imposed lockdowns across several countries that has disrupted the supply chain of the aviation industry. However, the COVID-19 pandemic has caused moderate impact on the aerospace avionics industry. The onset of COVID-19 pandemic has brought several challenges for the functioning of various businesses across the world. Analysis of Covid-19 Impact on Aerospace Avionics Market The global aerospace avionics market forecast to be valued at $110,605.5 million by 2030, surging from $74,217.3 million in 2021, at a noteworthy CAGR of 4.6%.
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