The latest report by IMARC Group, titled “Flight Management Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the Flight Management Systems Market Size. The report also includes competitor and regional analysis, and contemporary advancements in the market. 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 defined as a specialized computer system that assists in onboarding, navigation and other aircraft operations while improving the overall flight performance. It systematizes virtual data and operational processes of numerous flight-related elements as well as automates in-flight tasks, thus significantly reducing the crew load. The demand for flight management systems is rising across the globe due to significant growth across the airline industry.
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Global Flight Management Systems Market Trends:
The global market is majorly driven by the increasing demand for next-generation flight management systems (NG-FMS) and advanced navigation performance. Moreover, the demand for the flight management system (FMS) is rising due to the various benefits, such as enhanced fuel efficiency and flight security and the increasing need for minimizing pilot workload, which is positively influencing the market growth. In addition to this, the introduction of several modern aircraft has led to the widespread incorporation of flight management systems across the airline industry is creating a positive market outlook. Some of the other factors driving the market include rapid urbanization and the increasing fleet traffic.
Key Market Segmentation:
Competitive Landscape with Key Players:
- Honeywell International, Inc.
- Thales Group
- General Electric Company
- Collins Aerospace (United Technologies Corporation)
- TransDigm Group, Inc.
- Garmin Ltd.
- Universal Avionics Systems Corporation
- Jeppesen Sanderson, Inc.,
- Navtech, Inc.
- Lufthansa Systems GmbH & Co. KG
- Leonardo-Finmeccanica S.p.A.
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:
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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