Various factors, such as 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, and augmented fleet orders globally are expected to drive the flight management systems market. This market has witnessed a substantial growth in recent years.

Get More Information@ https://www.marketsandmarkets.com/Market-Reports/flight-management-systems-market-1105.html

The flight management systems market is projected 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.

The market is divided on the basis of fit, hardware, aircraft type, and geography. By fit, the flight management systems market has been segmented into line fit and retrofit. The line fit segment is estimated to have the largest market share in 2016. The growth of this segment is attributed to rise in aircraft orders as well as deliveries worldwide. The studied market has been segmented based on hardware into visual display unit, control display unit, and flight management computers. The flight management computers segment is expected to register the highest growth rate due to rise in the demand of technologically advanced, lightweight flight management systems.

This research report categorizes the flight management systems market based on aircraft type into narrow body aircraft, wide body aircraft, very large body aircraft, and regional transport aircraft. The very large aircraft segment is expected to grow at the highest rate during the forecast period. The key factors fueling the growth of this segment include the need of long distance travel, rise in demand of higher capacity aircraft, and the rise in air travel worldwide.

North America, Europe, Asia-Pacific, Middle East, Africa, and Latin America are considered in the geography segment. The North America and Europe flight management systems market held the largest market share in 2016 and are expected to dominate the global market during the forecast period. Asia-Pacific is the fastest-growing market due to the growth of the commercial low-cost carriers in the region. The rise in aircraft orders and deliveries as well the need for technologically advanced flight management systems are the key drivers for the growth of flight management systems market in this region.

Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownload.asp?id=1105

Key Players:

The major players in the flight management systems market 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).

The strategy of contracts accounted for a major share of the total growth strategies adopted by the leading players in the market. For instance, Jeppesen Sanderson, Inc. received a contract worth USD 1.8 Million from the U.S. Naval Air Systems Command for flight management system (FMS) navigation database software subscriptions compatible with the E-2D Advanced Hawkeye aircraft. This strategy has helped the companies to maintain their position in the market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]