Flight Management System Market Outlook – 2027
Flight management systems form a significant component of a modern aircraft's avionics systems. This is a special computerized program that conducts various in-flight operations that involve automatically reducing the workload of the aircraft crew for navigators or flight engineers. The primary role of the flight management system involves in-flight control and flight planning, using various sensors such as global positioning systems (GPS) and inertial navigation systems (INS), among others. Besides, the demand for efficient fuel control and dropping prices of crude oil would generate tremendous opportunities for the global industry of flight management systems.
COVID-19 Scenario Analysis:
- Tech firms are stepping up their emphasis on high-demand innovations and finding new ways to support their consumers, even as the COVID-19 crisis pose problems across sectors and leads to a decline in high technology investment.
- Vendors of software like IBM, SAP, and Microsoft are preparing to use these emerging technologies to add value to their customers.
- Supply-side shocks are indeed some of the most noticeable impacts on the defense sector from the consequences of the pandemic. The immediate victims of the pandemic are businesses that are based in countries badly affected by the virus or those reliant on supply chain operations based in the affected countries.
- Major powers like the U.S. have already halted all troop movement, missions, and exercises. Cessing or reducing military exercises would reduce the engagement time, informal testing, and evaluation of equipment and reduce the latent market development potential.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
The major factor driving the flight management systems market is the growing need for flight management in the next decade. Advanced technologies for in-flight planning and navigation, flight management systems of the next generation were developed and introduced in some of the modern aircraft. Aims at improving fuel performance, reduced pilot operating load, and improving flight safety are designed for the next-generation flight management systems. Besides, increasing numbers of airlines around the globe is also boosting the flight management systems market. The flight management systems market's most prominent challenge is their vulnerability to cyber-attacks. The flight management systems require the use of open Wi-Fi for data storage and transmission for required actions to the nearest airport. Also, complexity in architecture, due to the presence of different sensors, various applications are usedin the flight management systems, which restricts the pilot and crews to use them freely.
The global flight management systems market trends are as follows:
New product launches to flourish the market
The GTN 650Xi and GTN 750Xi, the next generation in-flight technology, have been announced by Garmin International in 2020. It is a feature-rich multifunction display that is available for the all-in-one GPS/NAV/COMM and can be integrated with new or existing remote mount equipment such as transponders or audio panels. Also, the NGFMS by Honeywell software has been built with a completely redesigned architecture to utilize a modular design that allows specific aircraft adjustments in hardware, operating systems, input/output (IO), and other functions. With little modification to the core flight management system feature, the system can perform the same core feature on multiple platforms.
Increasing R&D investments and rising adoption of flight management systemsfor advanced surveillance and navigational technologies
Global flight management system market players have significantly increased investment in R&D development which generated room for innovative flight management systems. The global flight management systems market is expected to generate major opportunities in emerging economies, such as Indiadue to various government policies that attract investment. Also, the growing need for advanced surveillance and navigation technology is another important factor that will fuel the flight management system market. Within the commercial and defense aviation industry, surveillance and navigation have an important role to play, as this includes sophisticated surveillance and navigation management systems to guarantee safe flight.
Key benefits of the report:
- This study presents the analytical depiction of the global Flight management system industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global market share.
- The current market is quantitatively analyzed to highlight the global market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the flight management system Market research report:
- What are the leading market players active in the global Flight management system market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Flight Management System Market Report Highlights
By Aircraft type
Key Market Players
Lufthansa Systems, Esterline Technologies, Rockwell Collins, Universal Avionics Systems, Leonardo-Finmeccanica S.p.A, Garmin, Jeppesen Sanderson, Thales Group, General Electric Company, Honeywell International