Market Research Report
Flight Management Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
|Published by||IMARC Services Private Limited||Product code||999681|
|Published||Content info||107 Pages
Delivery time: 2-3 business days
|Flight Management Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026|
|Published: April 12, 2021||Content info: 107 Pages||
The global flight management systems (FMS) market reached a value of US$ 2.86 Billion in 2020. A flight management system (FMS) is a specialized computer system that performs a complete range of in-flight tasks, thus significantly reducing the crew load. It is an integrated, full-flight communication and information management system that provides guidance and aids in navigation, trajectory prediction, and performance and fuel computations. In-flight management and flight planning through various sensors such as inertial navigation systems (INS) and global positioning systems (GPS) are some of the other functions of FMS.
A thriving aviation industry along with an increase in the demand for next-generation aircraft features is a key factor driving the market growth. For instance, improved fuel efficiency and flight security along with the reduction in pilot workload are some of the key benefits offered by FMS, owing to which its demand is rapidly increasing. Moreover, Next Generation Flight Management Systems (NGFMS) are being introduced, that streamline air traffic management, reduce direct operational costs and enhance the overall safety of the aircraft. Furthermore, there is a significant growth in the number of airlines across the globe which now connect even the remotest regions to the world. This has led to the launch of several modern aircraft, thus leading to the widespread incorporation of FMA, which is contributing positively to the market growth. Apart from this, other benefits such as enhanced navigation, lower power consumption and reduced weight, and glass cockpits resulting in better operational facilities are also driving the market growth. Looking forward, IMARC Group expects the global flight management systems market to exhibit moderate growth during the next five years.