Topnewspro.com The “Global Flight Management Systems Market” report has been added by Logic Research and Solutions.
The report Flight Management Systems Market has been segmented on the basis of Hardware (Control Display Unit, Visual Display Unit, Flight Management Computer), Aircraft Type (Narrow Body Aircraft (NBA), Wide Body Aircraft (WBA), Very Light Aircraft (VLA), Regional Transport Aircraft (RTA)), Fit (Line Fit, Retrofit) and Region (North America, Europe, Asia-Pacific and ROW).
The flight management systems market is expected to reach USD 3.13 Billion by 2021, at a CAGR of 6.23% during the forecast period. The major driving factors for this market are next-generation flight management systems and advanced navigation performance. Another driving factor for this market is the growth in airline industry across the globe.
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Among by type, narrow body aircraft (NBA) is expected to grow at the fastest compounded annual growth rate during the forecast period. The major driving force is an increase in demand for narrow-body aircraft. As per Boeing, commercial airplane market is expected to double its fleet.
The global flight management systems market has been segmented and analyzed in terms of two types, namely, line fit and retrofit, wherein, the line fit segment is estimated to dominate the overall market in terms of market size, and is expected to exhibit a similar trend during the next five years owing to the rise in aircraft orders and deliveries worldwide. It has also been noticed that in emerging countries such as India and China, there has been an increase in passenger travel, giving rise to low-cost carriers.
Global Flight Management Systems Market
In the hardware segment, flight management computers segment is expected to exhibit the fastest growth during the forecast period.
The global flight management systems market, by hardware, has been segmented into visual display unit, control display unit, and flight management computers. The flight management computers segment is estimated to register the highest CAGR owing to the increase in demand for technologically advanced as well as lightweight flight management computers. The market for flight management computer hardware is largest in North America and Europe, owing to the rise in the demand for next-generation flight management systems and advanced required navigation performance systems.
Global Flight Management Systems Market Forecast
The market in the APAC region is expected to grow at the highest rate during the forecast period. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021 owing to the increase in aircraft orders as well as deliveries in emerging economies such as India and China. The rise in low-cost carriers, as well as the need of technologically advanced flight management systems, is also an important factor which is the fueling the growth of the market in this region.
Key vendors: Honeywell International Inc. (U.S.), Thales Group (France), General Electric Company (U.S.), Leonardo-Finmeccanica S.p.A (Italy), Rockwell Collins (U.S.), Esterline Technologies (U.S.), Garmin Ltd. (Switzerland), Universal Avionics Systems (U.S.), Lufthansa Systems (Germany), Jeppesen Sanderson, Inc. (U.S.), and Navtech, Inc. (Canada).