Flight Management Systems Market Is Set To Grow At A 4% CAGR To 2018 : Radiant Insights,Inc
RadiantInsights.com has announced the addition of “Global Flight Management Systems Market Trends, Growth And Forecast Report Up To 2018 : Radiant Insights, Inc” Market Research Report to their Database.
San Francisco, United States – July 1, 2016 /MarketersMedia/ —
Flight managements systems (FMS) are a navigational guide installed in aircrafts. It aids pilots in reaching the destination with a well coordinated route. It uses cartographical data from existing airports, radio navigational aids, and navigation points. These plans are combined with the flight plan to secure a safe route in the vertical plane (VNAV) and lateral plane (LNAV).
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The flight management systems market is set to grow at a 4% CAGR over the forecast period (2013-2018). A major factor driving demand is the need for low-maintenance aerial systems. Demand for aircrafts in Asia Pacific is another factor driving growth. But raw material prices for building avionic parts could pose a market challenge.
Surge in the number of passengers and aircrafts have boosted the sales of flight management systems. Aircraft delivery services have altered the market scenario considerably. New products and mergers are strategies followed by companies to sustain their position. Introduction of new aircrafts such as A380, A320neo, C919, and B737max will propel the demand for flight management systems.
The market is segmented by cockpit architecture, hardware, maintenance, and geographies. RTA (regional transport authority), WB (wide body), NB (narrow body), and VLA (very large aircraft) comprise various aerial cockpits. Wide body aircrafts are facing a boost on account of being fuel-efficient and seating more passengers. These aerial carriers are projected to grow at nearly 8% CAGR over the forecast period.
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Flight management computer (FMC), control display unit (CDU), and visual display unit (VDU) constitute as hardware components of FMS. Regions of market interest comprise Europe, North America, Asia Pacific, Middle East, and RoW (Rest of the World). Asia Pacific is reported to witness rapid growth due to the emerging economies of China and India. Middle East occupied 8% market share in 2013.
Prime vendors in the flight management systems market are Rockwell Collins, Inc., Universal Avionics Systems Corp., Lufthansa Systems, and Esterline Technologies Corporation.
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About Radiant Insights,Inc
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
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