The Global Flight Management System market accounted for
$ 5.98 Billion in 2014 and it is expected to reach $10.6 Billion by 2022
growing at a CAGR of 7.42%.
The introduction of new aircraft will facilitate airlines
to reinforce their existing competitive strategies and may allow them to
develop capabilities that enable new ways to grow in the market. The delivery
of upcoming aircraft such as A320neo, and C919, B737max, B787-9, drives the
market of technically advanced flight management systems.
The growing demand for performance-based navigation,
which includes preparing user-defined flight plans and efficient fuel
management during the flight are important functions of FMS, which play a fair
role in increasing its demand for the Wide Body Aircraft (WBA). The demand for
WBA is rising significantly across the globe due to a rise in passenger
traffic. The escalating connectivity between the main geographical locations of
growing regions and the most developed urban regions has led to a boost in the
demand for fuel efficient aircraft in order to reduce the travelling costs.
The Flight Management System Market is segmented by
Cockpit Architecture i.e., Very Large Aircraft(VLA), Narrow Body Aircraft(NBA),
Wide Body Aircraft(WBA), Regional Transport Aircraft(RTA) and by hardware it is
segmented into Visual Display Unit (VDU), Flight Management Computer (FMC),
Control Display Unit (CDU) and by Maintenance it is classified into Line-Fit
Market and Retro-Fit Market.
The Key players in Flight Management System(FMS) Market
are Honeywell International Inc, Thales Group, General Electric, Esterline
Technologies Corporation, Rockwell Collins, Universal Avionics and Jeppesen
Inc.
For more information visit: http://www.marketresearchreports.com/stratistics-mrc/global-flight-management-system-market-outlook-2014-2022
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