Flight Management System Market Expected to Reach .6 Billion by 2022
Global Flight Management System market accounted for $6.32 Billion in 2015 and it is expected to reach $10.6 Billion by 2022 growing at a CAGR of 7.5%.
PUNE, INDIA, November 11, 2016 /EINPresswire.com/ — Global Flight Management System market accounted for $6.32 Billion in 2015 and it is expected to reach $10.6 Billion by 2022 growing at a CAGR of 7.5%. High demand for aircraft, emergence of the auto-ground collision avoidance system and development of glass cockpits are the factors driving the market. However, security concerns due to cyber-attacks and inflexible safety regulations may hinder the market growth. The introduction of new aircraft will facilitate airlines to reinforce their existing competitive strategies and may allow them to develop capabilities that enable new ways to grow in the market. Technological advancements for heavy data storage and high operational efficiency may create an opportunity to the flight management system market.
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The visual display unit segment accounted for the largest share of the flight management systems market during the forecast period. This is mainly attributed to the demand of lightweight and technologically advanced displays. North America accounted for the largest share in market owing to the demand for advanced required navigation performance systems and next generation flight management systems. While, Asia Pacific is expected to grow at a highest CAGR due to its cost effectiveness and increase in aircraft orders as well as deliveries in emerging economies such as India and China.
Some of the key players in global flight management system market include Esterline Technologies Corporation, Garmin Ltd, Thales Group, General Electric, Universal Avionics Systems Corporation, Honeywell International Inc., Jeppesen Sanderson, Inc., Rockwell Collins, Leonardo-Finmeccanica S.p.A, Navtech, Inc., Lufthansa Systems, BAE System and Cobham Plc.
• Flight Management Computer (FMC)
• Control Display Unit (CDU)
• Visual Display Unit (VDU)
Cockpit Architecture Covered:
• Wide-Body (WB) Aircraft
• Very Large Aircraft (VLA)
• Narrow Body (NB) Aircraft
• Regional Transport Aircraft (RTA)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o South Africa
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