Market Analysis
Global Flight Management Systems Market is predicted to grow at a 6% CAGR between 2019- 2023, reveals the new Market Research Future (MRFR) report. Flight management systems or FMS is a system that helps in automating the task to manage the onboard navigation systems. It is used for managing multiple aircraft systems like surveillance systems, data link system, fuel and engine system, flight control system, displays, radios, navigation sensors, and others.
On the contrary, technical complexities during the functioning of advanced flight management systems, vulnerability of flight management systems to cyberattacks, backlogs in aircraft deliveries, and restricted navigation database capacity are factors that may limit the flight management systems market growth over the forecast period.
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Key Players
Eminent players profiled in the Global Flight Management Systems Market Report include Esterline Technologies Corporation (US), General Electric Company (US), Universal Avionics Systems Corporation (part of Elbit Systems Ltd. (Israel), Innovative Solutions & Support Inc. (US), Thales SA (France), Collins Aerospace (part of United Technologies Corporation (US), Honeywell International Inc. (US), NAVBLUE S.A.S. (part of Airbus (France), Garmin Ltd. (US), and Jeppesen Sanderson, Inc. (part of Boeing (US).
Market Segmentation
Market Research Future Report provides an inclusive Segmental Analysis of the Global Flight Management Systems Market based on aircraft type, component, and fit.
Based on component, the global flight management systems market is segmented into flight management computer (FMC), multi-function display (MFD), and control display unit (CDU). Of these, the flight management computer segment will have a major share in the market over the forecast period followed by the control display unit, which is likely to grow at a high CAGR.
By fit, the global flight management systems market is segmented into retrofit & line-fit. Of these, the line-fit segment will dominate the market over the forecast period followed by the retrofit segment, which is likely to grow at a high CAGR.
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Regional Analysis
Based on the region, the global flight management systems market covers the growth opportunities and recent trends across Europe, the Americas, the Asia Pacific (APAC), and the Middle East & Africa (MEA). Of these, North America will spearhead the market over the forecast period. Factors boosting the market growth include the presence of leading aircraft OEMs like Bombardier and Boeing. Besides, increasing delivery of commercial aircraft to suffice the increasing passenger traffic in Canada and the US is also adding market growth.
The flight management systems market in Europe is predicted to have a healthy growth over the Forecast Period, and that in the MEA will have sound growth over the forecast period.
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