Flight Navigation System Market Forecasts to 2028 – Global Analysis By Product (Flight Management System, Flight Control System Navigation and Surveillance & Communication), Flight Instrument (Autopilot, Altimeter, Sensors, Gyroscope and Other Flight Instruments), Avionics System (Hyperbolic Navigation System, Radar, VOR/DME, INS, GNSS, ILS, FMS, Doppler Navigation System and Other Avionics Systems), Application and By GeographyAccording to Stratistics MRC, the Global Flight Navigation System Market is accounted for $19.44 billion in 2022 and is expected to reach $32.25 billion by 2028 growing at a CAGR of 8.8% during the forecast period. Flight navigation systems help to locate an aircraft by precisely maintaining a direction and with respect to the surface of the planet. The primary goals of flight navigation systems are to provide pilots with improved location and accuracy services. Additionally, these devices help pilots safely land under erratic or hazardous weather circumstances.
According to the International Air Transport Association (IATA), the air passenger travellers observe two-fold increase from today's level to reach around 8.2 billion air travellers by the year 2037 with a growth rate of 3.5%. This, in turn, is expected to strengthen the demand for flight navigation system, making a significant impact on the market growth around the world.
Market Dynamics:
Driver:
Rising demand for aircraft safety
The growth of the flight navigation system market is primarily driven by increasing product use in aircraft to assist in secure landing. Significant growth of the aviation industry with rising demand for aircraft is likely to drive the market growth at a significant rate during the review period. In addition to this, increasing demand for advanced flight navigation systems is likely to create lucrative opportunities for the players operating in the global market in the coming years.
Restraint:
Shortage of skilled professionals and high cost
The market expansion of the revenue rate for flight navigation systems is being hampered by the high initial cost associated with systems. Another significant obstacle to the expansion of the flight navigation system market is a skilled labour shortage.
Opportunity:
Increasing investments and modernization
The market for flight navigation systems is expanding as a result of factors like rising spending and private funding for R & D. Modernization and the production of more aircraft are two reasons that are propelling the global market for flight navigation systems.
Threat:
Stringent Regulations
The development of this market is being constrained by factors like regulatory concerns with the government of a country. Consequently, this may unconstructively force the growth of the market.
Covid-19 Impact
The COVID-19 outbreak has had a significant impact on market expansion. Most international flights were grounded for the majority of 2020, and only half of the capacity of domestic flights was being used. Even when things got better in 2021, traffic was still significantly lower than it was before the outbreak. This has caused a number of airlines to delay their intentions to purchase commercial aircraft, which has prevented market expansion.
The flight control system segment is expected to be the largest during the forecast period
Based on the product, the market is classified into Flight Management System, Flight Control System, Navigation and Surveillance & Communication. The flight control system segment is projected to control the global flight navigation system market and most liable explanation for the majority of the share during the forecast period. Because of the increased demand for modern and accurate navigation systems, this will aid in regulating an aircraft’s height by following the flight route of the aircraft. Throughout the forecast period, it is anticipated that this market segment would maintain its dominance.
The rotary wing segment is expected to have the highest CAGR during the forecast period
Based on the application, the market is segmented into Fixed Wing and Rotary Wing. The fixed wing segment is captured to be more profitable and predicted to record a strong CAGR during the forecast period. An increase in demand for medium and large-sized aircraft by the civil aviation industry and preference for technologically advanced navigation systems installed in them has resulted in a 1.3% increase in demand for Flight Navigation System.
Region with highest share:
North America is anticipated to hold the highest share during the forecast period. Owing to The expanding fleet of military and commercial aircraft in the area is to blame for this market expansion. The significant backlog of commercial aircraft orders for Airbus and Boeing in different nations may be a factor in this region's demand for flight navigation systems. Additionally, the Asia-Pacific area has seen a growth in demand for brand-new military aircraft as key nations seek to update their fleets and boost their capabilities. Due to their enormous defence spending, countries in the region have added a number of new military aircraft to their fleets in recent years and are anticipated to do so in the future.
Region with highest CAGR:
The North America flight navigation systems market is one of the fastest-growing regions and also records highest CAGR during the forecast period. This is due the growing aircraft production and modernization, particularly in some economies, encourages the expansion of the North American market for flight navigation systems. Additionally, rising demand for passenger and aircraft safety as well as an increase in air passenger traffic are a few other factors that support the growth of the flight navigation system market.
Key players in the market
Some of the key players profiled in the Flight Navigation System Market include Collins Aerospace (Raytheon Technologies Corporation), General Electric Company, Honeywell International Inc., Harris Technologies, Northrop Grumman Corporation, BAE Systems PLC, Garmin Ltd, CMC Electronics Inc., Thales Group, Safran SA, Cobham PLC
Key Developments:
In February 2022, Thales Alenia Space, Europe based, Franco-Italian aerospace manufacturer specializing in satellite manufacturing and space-related products, announced that the company got awarded a contract by the French Space Agency CNES to develop a dual-frequency multi-constellation (DFMC) satellite-based augmentation system (SBAS) prototype. Satellite-Based Augmentation Systems (SBAS) are used to enhance the accuracy and precision of existing GPS systems, where GPS systems aren't sufficiently accurate to help land aircraft.
In August 2022, Collins Aerospace, a Raytheon Technologies business (NYSE: RTX), has signed a definitive agreement to acquire privately held Flight Aware, a leading digital aviation company providing global flight tracking solutions, predictive technology, analytics and decision-making tools.
In July 2021, BAE Systems has completed its acquisition of the Collins Aerospace Military Global Positioning System (GPS) business from Raytheon Technologies Corporation, bringing decades of experience, innovative technology, and an extensive installed base of products to the company.
In May 2021, Garmin (GRMN) Acquires AeroData to Boost Aviation Business.
Product Covered:
• Flight Management System
• Flight Control System
• Navigation
• Surveillance & Communication
Flight Instruments Covered:
• Autopilot
• Altimeter
• Sensors
• Gyroscope
• Other Flight Instruments
Avionics System Covered:
• Hyperbolic Navigation System
• Radar
• VOR/DME
• INS
• GNSS
• ILS
• FMS
• Doppler Navigation System
• Other Avionics Systems
Application Covered:
• Fixed Wing
• Rotary Wing
End User Covered:
• Aircraft Manufacturers
• Government Agencies
• Regulatory Bodies
• Airline Operators
• Other End Users
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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