Market Research Report
Flight Management Systems (FMS) Market by Hardware (Control Display Unit, Visual Display Unit, Flight Management Computer), Aircraft Type (NBA, WBA, VLA, RTA), Fit (Line Fit, Retrofit) and Region - Global Forecast to 2021
|Published by||MarketsandMarkets||Product code||273791|
|Published||Content info||191 Pages
Delivery time: 1-2 business days
|Flight Management Systems (FMS) Market by Hardware (Control Display Unit, Visual Display Unit, Flight Management Computer), Aircraft Type (NBA, WBA, VLA, RTA), Fit (Line Fit, Retrofit) and Region - Global Forecast to 2021|
|Published: August 2, 2016||Content info: 191 Pages||
"The flight management systems market is projected to reach USD 3.13 billion by the end of 2021"
According to the projections in this report, the flight management systems market is estimated to grow from USD 2.31 billion in 2016 to USD 3.13 billion by 2021, at a CAGR of 6.23% during the forecast period. Factors that drive the flight management systems market include demand for next generation flight management systems and advanced required navigation performance, development of glass cockpits resulting in better operational efficiency, significant growth in airline industry worldwide as well as augmented fleet orders globally.
The need for developing glass cockpits resulting in better operational efficiency as well as rise in the aircraft orders are the key factors fueling the growth of the said market. The retrofit segment is projected grow at a higher CAGR during the forecast period of 2016 to 2021, primarily driven by the demand for technologically advanced flight management systems such as next generation flight management system (NG-FMS) as well as advanced required navigation performance (RNP).
The visual display unit segment is expected to hold the highest share of the flight management systems market during the forecast period of 2016 to 2021. This is mainly attributed to the increased demand of lightweight and technologically advanced display computers as it is the primary display unit of the flight management system. Apart from this, the rise in the aircraft orders worldwide is also a key factor fueling the growth of the said market.
The APAC region is expected to register the highest CAGR in the flight management systems market during the forecast period of 2016 to 2021. This high growth can be attributed to the rise in low-cost carriers and increase in aircraft orders. The need of technologically advanced flight management systems is also a key factor fueling the growth of the said market in the Asia-Pacific region.
Break-up of profile of primary participants for the report has been given below.
Flight management systems has evolved over the course of time in terms of technology. The next generation flight management system (NG-FMS), performance-based navigation, wide area augmentation system, adaptive 4D trajectory concept, and electronic flight instrument system are some of the new emerging technologies which are fueling the growth of this market.
The major companies profiled in the report include are: Honeywell International Inc. (U.S.), Thales Group (France), General Electric Company (U.S.), Leonardo-Finmeccanica S.p.A (Italy), Rockwell Collins (U.S.), Esterline Technologies (U.S.), Garmin Ltd. (Switzerland), Universal Avionics Systems (U.S.), Lufthansa Systems (Germany), Jeppesen Sanderson, Inc. (U.S.), and Navtech, Inc. (Canada).
From an insight perspective, this research report has focused on various levels of analysis - industry analysis (industry trends), market share analysis of top players, supply-chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the flight management systems market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
*Details on Overview, Products and Services, Financials, Strategy & Development might not be Captured in case of Unlisted Companies