PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300904
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1300904
Global Flight Deck System Market is valued approximately at USD xx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2023-2030. Flight deck systems refer to the avionics and instruments used by pilots to fly and navigate an aircraft. This includes the aircraft's navigation, communication, and instrumentation systems, as well as the flight control system. The Flight Deck System market is expanding because of factors such as increased demand for advanced aircraft and the growing demand for aircraft in defense flight deck systems. However, its importance has progressively increased during the last few decades.
According to a study done by the International Air Transport Association, the number of passengers is predicted to exceed seven billion, with an annual growth rate of 4.1 percent. There has been an increase in the profitability of airliners due increased fuel efficiency of aircraft operations. Furthermore, Air travel has become more inexpensive as per capita income has increased across countries. This has led to the global surge in aviation passenger travel. Another important component driving growing demand for aircraft in defense. According to the Statista, in 2021, AsiaPacific will have the highest concentration of military aircraft with little over 14,500 aircraft.Onefourth of the world's fleet of military aircraft was owned by the United States in that year. also, growing middle class ensures increased travel demand and the steady march of digitalization. However, Air traffic congestion and High manufacturing cost for aircraft component and system are the factors restraining the growth of flight deck system market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Flight Deck System Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to dominate the market as it is the hub of the aerospace industry due to the presence of key players. According to Statista, Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 2.90%, resulting in a projected market volume of US$168.50bn by 2027.The market in the Asia Pacific is anticipated to witness the highest growth owing to the rising passenger India and China, have heavy traffic. A further factor that is anticipated to support market expansion is the expanding military aircraft purchase in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable