Flight management system market is predicted to grow at a CAGR of 7.2% during 2018-2023. The key driving forces includes technological advancements in avionic systems for future aircrafts and cohesive government policies. Technological advancement such as auto ground collision avoidance system has been boosting the flight management systems market. Additionally, other pivotal factors that are driving the global flight management systems market includes the improved safety standards in aviation industries and favourable government regulations backing it. The demand for global flight management systems by type such as very large, wide body, narrow body aircrafts and regional transport aircraft are increasing significantly across the globe. Global flight management systems market is widely adopted due to emerging demand for safety, security, utility & comfort. R&D by flight management systems market players such as GE Aviation, Honeywell, Jeppesen, Thales SA and Rockwell Collins are also creating scope for the market.
Investment in R&D development has been increased considerably by global flight management system market players which created scope for innovative flight management systems. Emerging economies such as India, China, Japan and Korea are expected to create considerable opportunities for global flight management systems market. APAC Countries such as China, India and Japan have significant scope in flight management systems market due to cohesive government policies which will attract major players for investment. Technological advancement, declining crude oil prices and rise in adoption of flight management systems across the globe are creating scope for the market in APAC region. Demand for efficient fuel management and falling crude oil prices will create huge opportunity for global flight management systems market.
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Moreover, North America has the highest contribution in global flight management system market due to significant adoption of flight management systems followed by Europe. Untapped APAC region such as China, India, Japan and Korea are expected to create huge opportunity for global flight management systems market due to huge demand for aircrafts and their maintenance. APAC region is predicted to be a lucrative region due to huge demand of flight management systems, favorable government regulations, low-cost manufacturing, cheap labor and improved infrastructure. Developed economies such as US, UK and other EU nations have favorable government policies for safety, security and comfort which are driving the global flight management systems market.
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FLIGHT MANAGEMENT SYSTEM MARKET SEGMENTATION
BY TYPES OF AIRCRAFTS
· VERY LARGE AIRCRAFT (VLA)
· WIDE BODY AIRCRAFT
· NARROW BODY AIRCRAFT
· REGIONAL TRANSPORT AIRCRAFT
BY MAINTENANCE
· LINE-FIT
· RETRO-FIT
BY HARDWARE
· FLIGHT MANAGEMENT COMPUTER (FMC)
· VISUAL DISPLAY UNIT (VDU)
· CONTROL DISPLAY UNIT (CDU)
COMPETITIVE LANDSCAPE
· KEY STRATEGIES
· KEY COMPANY ANALYSIS
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
