Global Flight Management Systems Market by Component (Control Display Unit, Flight Management Computer and Multi-Function Display), by Fit (Line-Fit and Retrofit), by Aircraft Type (Narrow-Body, Wide-Body and Others), and by Region — Global Forecast till 2023
Market Research Future published a research report on the global flight management systems market that contains information from 2018 to 2023. The market is expected to register a CAGR of over 6% during the review period.
North America, Europe, Asia-Pacific, the Middle East & Africa, and South America are the various regions considered in this report. The global flight management systems market is projected to register an over 6% CAGR from 2018 to 2023.
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The North American market for flight management systems is expected to grow substantially during the forecast period. In 2017, the North American market accounted for the largest share. It houses two main countries, namely the US and Canada. The sheer existence of major players such as UTC, Honeywell, among others, result in the dominance of this region in the global market. Furthermore, it is expected that approximately 10,000 aircraft would be in service in this region by 2035, which creates additional opportunities for the flight management systems providers in this region.
In Europe, market growth is driven by the UK, Germany, France, and Italy. In 2017, there were over 5,000 commercial aircraft operating in the region, which is expected to reach 8,000 by 2035. This will create a demand for flight management systems during the review period. Furthermore, this region has some of the prominent commercial as well as business aircraft manufacturers as well, namely, Airbus, Dassault, among others which creates promising growth opportunities for the retrofit market.
Asia-Pacific is projected to be fastest-growing regional flight management systems market during the review period. China, Japan, and India are expected to contribute significantly to the growth of the regional market. China accounted for the largest market share in 2017. With an increase in the number of aircraft, there would be a greater need for key equipment including flight management systems, which is expected to drive market growth in the region. Moreover, over the last few years, there has been significant investments in R&D by aircraft OEMs in China and India to develop aircraft indigenously, which creates further growth opportunities.
The market in the Middle East & Africa is projected to register significant growth during the forecast period. Prominent airlines such as Emirates, Qatar Airways and Etihad Airlines are present in this region which are keen on modernizing the aircraft to enhance efficiency of aircraft operation. Meanwhile in Latin America, as a result of the growing tourism industry, it is expected that approximately 3,000 aircraft would be delivered to this region, which would eventually drive the growth of the flight management systems market.
The global flight management systems market has also been segmented based on component and aircraft type.
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We recognize the key players in the global flight management systems market as Collins Aerospace (part of United Technologies Corporation (US)), Esterline Technologies Corporation (US), Garmin Ltd. (US), General Electric Company (US), Honeywell International Inc. (US), Innovative Solutions & Support Inc. (US), Jeppesen Sanderson, Inc. (part of Boeing (US)), NAVBLUE S.A.S. (part of Airbus (France)), Thales SA (France), and Universal Avionics Systems Corporation (part of Elbit Systems Ltd. (Israel)).
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