Avionics of modern airlines are incomplete without the efficient flight management systems that specialize in the automation of numerous in-flight tasks and reduce excessive workload from the flight holders and navigators. The biggest task for these systems is to increase aircraft efficiency and safety with thorough analysis and inputs matching the changing flight parameters. Increasing application area is driving the global flight management systems market, which is expected to witness a steady growth rate during the research span of four to five years. Interesting segmentation, increased field of applications and increasing investments in the market are creating positive waves for the industry, which is a great sign for the existing players.
Segmentation and Key Takeaways
Segmentation in the flight management systems market is based on the types of aircrafts, demand in different geographical locations and role of different stakeholders in the market. Based on the types of aircrafts, the industry is segmented into very large aircrafts, narrow body aircrafts, wide body aircrafts and regional transport aircrafts. Based on geographical demands, the market is segmented into six regions. These segments include US, Russia, Europe, Canada, China and Brazil. Major stakeholders in the FMS market include airports, airlines, crew, passengers, aircraft manufacturers, cargo carriers, government and flight management systems providers.
One needs to analyze all the aspects of these segments in the industry. Detailed analysis gives conclusive information about the drivers, constraints, challenges, opportunities, threats, key players and emerging players from different geographical regions of the world. It also gives information about the advanced technologies including the ones that are currently enriching the industry and those expected to arrive in the future. In depth study of all these aspects gives clear perspective about the market and assists in making firm estimates in terms of forecasting. Based on the similar study of the aforementioned segments, researchers have come up with market research reports for flight management systems.
Following are the key takeaways according to these reports:
- From 2013 to 2018, the global FMS industry is expected to grow at an estimated rate of 3%. At this rate, the market will reach $1.8 billion in 2018.
- Although the initial glance suggests slow growth in the market, it is expected to pick up the pace in the long term, which is a great sign as far as forecasting is concerned.
- United States of America and Europe are expected to be the leading geographical segments. Majority of market players are headquartered in these two regions.
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