Flight Management Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Flight Management Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global flight management systems (FMS) market size reached US$ 3.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.9 Billion by 2028, exhibiting a growth rate (CAGR) of 2.3% during 2023-2028.

A flight management system (FMS) is a specialized computer system that performs a complete range of in-flight tasks, thus significantly reducing the crew load. It is an integrated, full-flight communication and information management system that provides guidance and aids in navigation, trajectory prediction, and performance and fuel computations. In-flight management and flight planning through various sensors such as inertial navigation systems (INS) and global positioning systems (GPS) are some of the other functions of FMS.

A thriving aviation industry along with an increase in the demand for next-generation aircraft features is a key factor driving the market growth. For instance, improved fuel efficiency and flight security along with the reduction in pilot workload are some of the key benefits offered by FMS, owing to which its demand is rapidly increasing. Moreover, Next Generation Flight Management Systems (NGFMS) are being introduced, that streamline air traffic management, reduce direct operational costs and enhance the overall safety of the aircraft. Furthermore, there is a significant growth in the number of airlines across the globe which now connect even the remotest regions to the world. This has led to the launch of several modern aircraft, thus leading to the widespread incorporation of FMA, which is contributing positively to the market growth. Apart from this, other benefits such as enhanced navigation, lower power consumption and reduced weight, and glass cockpits resulting in better operational facilities are also driving the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global flight management systems market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on fit, aircraft type and hardware.

Breakup by Fit:

Line Fit
Retrofit

Breakup by Aircraft Type:

Narrow Body Aircraft
Wide Body Aircraft
Very Large Aircraft
Regional Transport Aircraft

Breakup by Hardware:

Visual Display Unit
Control Display Unit
Flight Management Computers

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Honeywell International Inc., Thales Group, General Electric Company, Rockwell Collins, Esterline Technologies Corporation, Garmin Ltd., Universal Avionics Systems Corporation, Jeppesen Sanderson, Inc., Navtech, Inc., Lufthansa Systems GmbH & Co. Kg, Leonardo-Finmeccanica Spa, etc.

Key Questions Answered in This Report
1. What was the size of the global flight management systems market in 2022?
2. What is the expected growth rate of the global flight management systems market during 2023-2028?
3. What are the key factors driving the global flight management systems market?
4. What has been the impact of COVID-19 on the global flight management systems market?
5. What is the breakup of the global flight management systems market based on the fit?
6. What is the breakup of the global flight management systems market based on the aircraft type?
7. What is the breakup of the global flight management systems market based on the hardware?
8. What are the key regions in the global flight management systems market?
9. Who are the key players/companies in the global flight management systems market?