According to Stratistics MRC, the Global Flight Navigation System Market is expected to grow at a CAGR of 9.1% during the forecast period.
The growing demand for aircrafts across the globe, rise in the air traffic and increasing demand for accurate navigation are the factor boosting the growth of the market. The factors that are hampering the market growth include high costs, complexity of the systems, and their accuracy. However, fuel efficiency is expected to provide business opportunities for the existing as well as potential players in this market.
Flight navigation takes place through various methods that are used by the pilots to guide the plane in the present day airspace system. These navigation systems consist of navigation database made of all the vital components of the flight. It integrates the aircraft operations and manages the functions that a plane takes place from the time of take off to landing.
By application segment, the fixed-wing aircraft segment dominates the overall flight navigation systems market. The fixed-wing aircraft platform is categorized on the basis of aircraft type, such as very large aircraft, narrow body aircraft, wide body aircraft and regional transport aircraft.
Depending on geography, The Asia-Pacific region being a diverse mix of countries and aviation requirements is expected to witness the highest number of aircraft deliveries than any other region during the forecast period. The increase in aircraft deliveries is expected to lead to the growth in the flight navigation systems market.
Some of the key players in flight navigation system the market include Thales Group, Honeywell International Inc., Northrop Grumman Corporation, The Boeing Company, GE Aviation, MOOG, Inc., Rockwell Collins, Inc., Esterline Technologies Corporation, Universal Avionics Systems Corporation, Garmin Ltd., Jeppesen Inc, Lufthansa Systems and Navtech, Raytheon Company, Sagem, Woodward, Parker Hannifin, Bae Systems, Liebherr, Pacific Helicopters and Augusta Westland.
Flight Instruments Covered:
Flight Management Systems
Flight Control System
Flight Navigation Systems
o Rest of Europe
o New Zealand
o South Korea
o Rest of Asia Pacific
o Rest of South America
Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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