Global Flight management systems Market Size study & Forecast, by Component (Control Display Unit, Flight Management Computer, Multi-Function Display) By Fit (Line-Fit, Retrofit) By Aircraft Type (Narrow-Body, Wide-Body, Others) and Regional Analysis, 202

Global Flight management systems Market Size study & Forecast, by Component (Control Display Unit, Flight Management Computer, Multi-Function Display) By Fit (Line-Fit, Retrofit) By Aircraft Type (Narrow-Body, Wide-Body, Others) and Regional Analysis, 2022-2029

Global Flight management systems Market is valued approximately USD 3.07 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.90% over the forecast period 2022-2029. A flight management system is a dedicated computer system that performs a full range of in-flight tasks, thereby significantly reducing the load of the crew. The Flight management systems market is expanding because of factors such as increasing awareness regarding safety & security and growing number of passengers by aircraft.

Flight management systems is an integrated system of communication and information management that provides guidance and assistance in navigation, trajectory prediction, and performance evaluation. Its prevalence has progressively increased during the last few decades. According to the Statista, in 2021, the number of aircraft departures performed by U.S. carriers amounted to approximately 7.9 million, an increase of around 29.1 percent compared to the previous year's take-offs. Furthermore, in 2020 the number aircraft accidents worldwide, North America accounts 11 substantial damage in that year. Another important component driving space increase in number of passengers by aircraft. As per Statista, China had the largest commercial air travel market in 2020, with over 417.2 million passengers boarding planes registered to Chinese air carriers. followed by United States with 370 million passengers, while the Europe ranked third, with almost 190 million passengers. In addition, in 2022, the market share of airlines across India passenger carrier, IndiGo was the leader in the segment with around 55 percent in the market. Also, rising aircraft orders and deliveries and growing technological advancement would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Flight management systems stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Flight management systems Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key market players in the region. According to the Statista, in 2019, North America accounted for over 1.2 billion U.S. dollars in the global flight data monitoring market. In that same year, the global flight data monitoring market was worth more than 3.8 billion U.S. dollars. Furthermore, Europe is expected to grow with a highest CAGR during the forecast period, owing to increasing technological advancement, and active participation of government organizations in order to precise functioning of airport operations in the market space.

Major market player included in this report are:

Esterline Technologies Corporation
Garmin Ltd.
General Electric Company
Honeywell International Inc.
Jeppesen Sanderson, Inc.
Leonardo-Finmeccanica Spa
Lufthansa Systems GmbH & Co. Kg
Navtech, Inc.
Rockwell Collins
Thales Group

Recent Developments in the Market:
 In May 2022, Thales has been selected by Airbus to equip its commercial airliners with the most powerful and innovative flight management system on the market. This new fully connected flight management system from Thales provides secure access to open-world data and offers airlines an array of new possibilities. The new flight management system, which is based on the PureFlyt product and has been adapted to meet the specific requirements of Airbus, will process and share vast amounts of data to optimize flight operations, enhance interoperability and reduce environmental impact.

Global Flight management systems Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, Fit, Aircraft Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component
Control Display Unit
Flight Management Computer
Multi-Function Display

By Fit
Line-Fit
Retrofit

By Aircraft Type
Narrow-Body
Wide-Body
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned
Esterline Technologies Corporation
Garmin Ltd.
General Electric Company
Honeywell International Inc.
Jeppesen Sanderson, Inc.
Leonardo-Finmeccanica Spa
Lufthansa Systems GmbH & Co. Kg
Navtech, Inc.
Rockwell Collins
Thales Group

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