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Flight Management Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Flight Management Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • April 2021
  • 107 pages
  • ID: 5783224
  • Format: PDF
  • IMARC Group

Summary

Table of Contents

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, the analyst expects the global flight management systems market to exhibit moderate growth during the next five years.

Report Coverage:
Historical, Current and Future Market Trends

Market Breakup by Fit:
Line Fit
Retrofit

Market Breakup by Aircraft Type:
Narrow Body Aircraft
Wide Body Aircraft
Very Large Aircraft
Regional Transport Aircraft

Market Breakup by Hardware:
Visual Display Unit
Control Display Unit
Flight Management Computers

Market Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Honeywell International Inc., Thales Group, General Electric Company, Rockwell Collins, Esterline Technologies Corporation, Garmin Ltd., Universal Avionics Systems Corporation, Jeppesen Sanderson, Inc., Navtech, Inc., Lufthansa Systems GmbH & Co. Kg, Leonardo-Finmeccanica Spa, General Electric Company, etc.

Key Questions Answered in This Report:
How has the global flight management systems market performed so far and how will it perform in the coming years?
What are the key regional markets in the global flight management systems industry?
What has been the impact of COVID 19 on the global flight management systems market?
What is the breakup of the market based on the fit?
What is the breakup of the market based on the aircraft type?
What is the breakup of the market based on the hardware?
What are the various stages in the value chain of the global flight management systems industry?
What are the key driving factors and challenges in the global flight management systems industry?
What is the structure of the global flight management systems industry and who are the key players?
What is the degree of competition in the global flight management systems industry?
What are the profit margins in the global flight management systems industry?

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