Global Flight Management System Market Research and Forecast 2022-2028

Global Flight Management System Market Research By Type (Very Large Aircraft, Wide Body Aircraft, Narrow Body Aircraft and Regional Transport Aircraft), By Maintenance (Line-Fit and Retro-Fit), and By Hardware (Flight Management Computer (FMC), Visual Display Unit (VDU) and Control Display Unit (CDU)) Forecast Period 2022-2028

The global flight management system market is growing at a considerable CAGR of 6.1% during the forecast period. Rising and improving standards associated with safety is one of the prime factors affecting and driving the market. Increasing government spending along with growing requirement for efficient fuel management is also estimated to be the key factors that are contributing significantly towards the growth of the market. However, limited data storage and delay in new aircraft order is the major factors constraints that are hindering the growth of the global flight management system market across the globe.

Further, the growing adoption of auto-ground collision avoidance system (GCAS) along with rising R&D in the avionics and aviation industries are some of the key factors that are creating opportunities for the market. New product launches in the market are likely to drive the growth of the global flight management system market. For instance, in June 2021, Honeywell International Inc. had selected lilium in order to make 7-Seater Lilium Jet's avionics along with flight control systems. The flight control system will play an effective role in ensuring smooth and comfortable air travel for the passengers.

Impact of COVID-19 Pandemic on the Global Flight Management System Market

The global flight management system market is hardly hit by the COVID-19 pandemic since December 2019. The COVID-19 pandemic had brought a lot of disruption across the globe. Due to COVID-19 pandemic the key player present in the industry are adopting various strategies and also taking the support of government in order to overcome the difficulties. Additionally, changing customers demand and due to lack of workforce, delayed in delivery of new aircraft was observed owing to COVID-19 pandemic.

Segmental Outlook

The market is segmented based on type, maintenance and hardware. Based on type, the market is segmented into very large aircraft, wide body aircraft, narrow body aircraft and regional transport aircraft. By maintenance, the market is segmented into line-fit and retro-fit.

Further, by hardware, the market is segmented into flight management computer (FMC), visual display unit (VDU) and control display unit (CDU).

Global Flight Management System Market Share by Hardware 2020 (%)

Global Flight Management System Market Share by Hardware

By hardware, the flight management computer (FMC) has a significant share in the market. The FMC is considered to be a computer system that utilizes a large database that is enabled by the means of a data loader. This system with the supports of navigation aids updates the position of aircraft constantly. Additionally, it also increases the situational awareness along with supporting the pilot with more time in order to make an effective decision by analyzing, that is also acting as a driving factor for the growth of the market.

Regional Outlooks

The global flight management system market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in 2020 in the global flight management system market. In the North American region increasing technology innovation is the prime factor affecting the demand of the market. Additionally, growing demand for commercial aircraft in order to control the air traffic in the countries such as the US and Canada and the presence of the key market players in the region that includes Boeing and General Electric among others are some of the other factors that are driving the growth of the market.

Global Flight Management System Market, by Region 2022-2028

Global Flight Management System Market, by Region

Asia-Pacific will have Considerable Growth in the Global Flight Management System Market

Asia-Pacific region is expected to witness significant growth opportunities for the market. Increasing demand for flight management systems is likely to drive the growth of the regional market. Additionally, favorable policies of the government and low costs related to manufacturing especially in South Korea, China and India are increasing activity in the market. Further, the availability of economical labor, improving infrastructure are some of the factors that are affecting and impacting the growth in this market.

Market Player Outlook

Key players of the global flight management system market are Collins Aerospace, Garmin Ltd., General Electric, Leonardo S.p.A., and Thales Group among others. To survive in the market, these players adopt different marketing strategies such as product launches and acquisition. For instance, in May 2021, Collins Aerospace was being selected by Lockheed martin in order to provide avionics for NASA’s X-59 Quiet Supersonic Technology (QueSST) aircraft. The company had made the large format display system that will support in playing an important role in the mission of the X-59.

In April 2021, Garmin Ltd. had received the approval from European Union Aviation Safety Agency (EASA) for its ATR 42 and ATR 72 turboprop aircraft that is built upon its portfolio of ADS-B solutions.

In March 2021, Collins Aerospace had received the certificate from the Federal Aviation Administration (FAA) for its new integrated avionics system named as Pro Line Fusion for the purpose of Cessna Citation CJ2+ light business jets with all the benefits.

In March 2021, Garmin Ltd. had introduced G5000 that is an integrated flight deck which is certified for future air navigation system for Textron aviation’s citation excel and citation XLS. This aircraft will support in fulfilling the requirements to fly the North Atlantic Track System (NATS) with the additional attribute for accessing the Federal Aviation Administration (FAA) Data Comm program for the user.

In January 2020, Honeywell International Inc. had come up with the applications for both the aircraft that includes commercial along with military through its next generation cabin pressure control and monitoring system. This will support in maintaining the air pressure inside the aircraft for the safe and comfortable environment.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global flight management system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where in the market.