The global commercial avionics market is expected to reach $10.27bn in 2023 from $7.78bn in 2013 due to growing aircraft orders and air traffic, according to a report by Frost & Sullivan.

The report, entitled Global Commercial Avionics Market, stated that the global commercial avionics market is gearing up with the increased production and delivery of aircrafts.

Service opportunities and the need for line-fit avionics systems are increasing due to the higher production of aircraft original equipment manufacturers (OEMs), according to a new report by Frost & Sullivan.

"Mandates issued to improve air traffic management in an increasingly busy airspace are driving innovation and forcing airlines to replace out-dated avionics systems with newer technologies."

The report covers communication, navigation, surveillance and integrated systems.

Frost & Sullivan aerospace and defence consultant Thomas Saquer said: "Mandates issued to improve air traffic management in an increasingly busy airspace are driving innovation and forcing airlines to replace out-dated avionics systems with newer technologies.

"Besides, participating in international regulatory initiatives is essential if avionics system manufacturers wish to shape the future of the market, but they also need to bring innovative products to the market not just to comply with regulations but also to stand apart from the competition."

However, companies that have been hit by the economic turmoil will continue to be reluctant in investing in new avionics systems or upgrading the existing ones.

Avionics systems manufacturers need to build a relationship with OEMs to get big projects as the manufacturers prefer to work with a handful of suppliers. A study released by Avascent Analytics earlier this month in July predicts that market to grow at a rate of 4.8% through 2019.

The report expects the avionic requirements for commercial business jets, turboprop and air transport aircraft to reach around $90bn by 2019.