The increasing demand for new aircraft delivery will directly impact the market growth of flight navigation system as it is one of the primary systems installed in every aircraft.
According to a new market research report, the global flight navigation systems market is expected to grow rapidly in Asia-Pacific region. This report segments the global flight navigation systems market on the basis of flight instruments, product type, navigation system for unmanned aircraft systems, application, and geography. In this report, the global flight navigation market is segmented into various products consisting of avionics systems and communication systems. The avionics systems considered in this report are radar, hyperbolic navigation systems, GNSS, ILS, INS, VOR/DME, Automatic Direction Finder, Doppler Navigation system, FMS, and heads up display.
The global flight navigation systems market is estimated to be around $10392.87 million in 2014 and is projected to be $15687.22 million in 2020, growing at a CAGR of 7.10% from 2014 to 2020. The increasing demand for new aircraft delivery will directly impact the market growth of flight navigation system as it is one of the primary systems installed in every aircraft. We can affirm this fact by analyzing the aircraft deliveries that have been planned for 2014 and also that are being scheduled for the near future. In 2013, the total 1,450 commercial aircraft was delivered globally and by the end of 2014 about 1,555 commercial aircraft were delivered across the globe.
The growth prospect of this market will be constant in the North American and European regions with no significant changes in the market share. However, the growth prospect for this particular market will be higher in the Asia-Pacific region due to an increasing demand for aircraft deliveries in these regions.
The increase in number of aircraft deliveries and orders will remain as the key drivers for the growth of the flight navigation systems market. While, government regulations pose as the major restraint for the growth of this market.
Western companies such as Honeywell International Inc. (U.S.), Rockwell Collins (U.S.), Raytheon Company (U.S.), Northrop Grumman Corporation (U.S.), and The Boeing Company (U.S.), dominates this market and are expected to strengthen their market position across the globe during the forecast period. Moog Inc (U.S.)., Sagem (France), Universal Systems Avionics Corporation (U.S.), Garmin Ltd. (Switzerland), and Esterline Technologies Corporation (U.S.), are the other significant key players in the global flight navigation systems market.
Related Reports:
Flight Navigation System Market by Product Avionics systems, Communication systems, by Flight Instrument- Altimeter, Gyroscope, Autopilot, Sensors, by Application- Commercial, Military, by Geography) - Forecast & Analysis to 2014 - 2020
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