Substantial Growth In Airline Industry Worldwide Are Expected To Drive Flight Management Systems Market 2021

The report profiles the key players in the flight management systems market, such as Honeywell International Inc. (U.S.), Thales Group (France), General Electric Company (U.S.), Leonardo-Finmeccanica S.p.A (Italy), Rockwell Collins (U.S.), among others. These companies account for a major share of the flight management systems market. These companies also have manufacturing facilities across key regions, such as North America and Europe, with a strong distribution network. These companies adopted various growth strategies, such as contracts, partnerships, agreements, and new product launches to capture the majority of the share of this growing market.

The companies have adopted these strategies to supply advanced products and services to customers and to strengthen their product portfolio. Honeywell International Inc. (U.S.), Thales Group (France), General Electric Company (U.S.), Leonardo-Finmeccanica-SPA (Italy), are some of the leading companies that have adopted these strategies to enhance their businesses.

The global flight management systems market is expected to reach USD 3.13 Billion by 2021, at a CAGR of 6.23% during the forecast period. The demand for next generation flight management systems and advanced required navigation performance, development of glass cockpits resulting in better operational efficiency, and significant growth in airline industry worldwide are expected to drive this market.

The companies have adopted these strategies to supply advanced products and services to customers and to strengthen their product portfolio. Honeywell International Inc. (U.S.), Thales Group (France), General Electric Company (U.S.), Leonardo-Finmeccanica-SPA (Italy), are some of the leading companies that have adopted these strategies to enhance their businesses.

On April 2016, Universal Avionics Systems Corporation received a contract from the U.S. Army to provide avionics for the design and development of the U.S. Army’s next generation reconnaissance aircraft. Under this contract, the company has to replace flight deck avionics with Universal Avionics EFI-8890R advanced flight display (PFD/MFD/Engine), dual satellite-based augmentation systems (SBAS)-capable multi-mission management systems (MMMS), Communication Management Unit. This contract will help the company to maintain constancy towards the U.S. government for avionics products and enable it to secure future avionics contract.

In February 2016, Thales received a contract to equip over 700 Airbus single aisle aircraft in Asia with different flight management systems and avionics components. This contract helped the company to expand its operations in Asia, the fastest-growing market. Under this contract, the company will equip its FMS in aircraft of Air China and Shenzhen airlines.

The global flight management systems market has been segmented and analyzed in terms of two types, namely, line fit and retrofit, wherein, the line fit segment dominates the overall market in terms of market size, and is expected to exhibit a similar trend during the next five years owing to the rise in aircraft orders and deliveries worldwide. It has also been noticed that in emerging countries such as India and China, there has been an increase in passenger travel, giving rise to low-cost carriers.

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The global flight management systems market, by hardware has been segmented into visual display unit, control display unit, and flight management computers. The flight management computers segment is estimated to register the highest CAGR owing to the increase in demand of technologically advanced as well as lightweight flight management computers. The market for flight management computer hardware is largest in North America and Europe, owing to the rise in the demand for next generation flight management systems and advanced required navigation performance systems.

The market in the APAC region is expected to grow at the highest rate during the forecast period

The market in APAC is expected to grow at the highest CAGR between 2016 and 2021 owing to the increase in aircraft orders as well as deliveries in emerging economies such as India and China. The rise in low-cost carriers as well as the need of technologically advanced flight management systems is also an important factor which is the fueling the growth of the market in this region.

Honeywell International Inc. (U.S.) is one of the key players in the flight management systems market. The other major players in this market include Thales Group (France), General Electric Company (U.S.), Leonardo-Finmeccanica S.p.A (Italy), Rockwell Collins (U.S.), Esterline Technologies (U.S.), Garmin Ltd. (Switzerland), Universal Avionics Systems (U.S.), Lufthansa Systems (Germany), Jeppesen Sanderson, Inc. (U.S.), and Navtech, Inc. (Canada).

In February 2016, Thales received a contract to equip over 700 Airbus single aisle aircraft in Asia with different flight management systems and avionics components. This contract helped the company to expand its operations in Asia, the fastest-growing market. Under this contract, the company will equip its FMS in aircraft of Air China and Shenzhen airlines.

On January 2016, Leonardo-Finmeccanica S.p.A received a contract from a Singapore-based company, Aptronics PTE Ltd. Under this contract, the company is responsible to provide radar warning receiver (SEER) to the Indonesian Air Force. SEER is a self-protection system that detects and identifies potential radar threats and alerts the pilots. This will be installed on light weighted multi-role combat aircraft Mk.209 Hawk. The contract includes the installation of aircraft currently in service and includes an option to supply additional systems in future.

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