Published Date: 31-Aug-2022
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According to a new report, published by KBV research, The Global Flight Management System Market size is expected to reach $4.6 billion by 2028, rising at a market growth of 7.2% CAGR during the forecast period.
The Control Display Unit (CDU) market is experiencing a CAGR of 7.7% during (2022 - 2028). A CDU is a control panel for advanced autopilots and related equipment, such as automated flight directors (AFDS). The CDU has controls that enable the aircraft's crew to choose which aspects of the flight should be handled automatically. The surging growth of this segment is mainly a result of the high efficiency of this unit in preventing accidents.
The Line Fit market is leading the Global Flight Management Systems (FMS) Market by Fit in 2021; thereby, achieving a market value of $2.8 billion by 2028. The growth of the segment is surging at a rapid pace due to rising demand for contemporary aircraft and an increase in the deployment of Flight Management Systems in the aircraft. Items that the manufacturer installs on the production line are referred to as line-fit.
The Wide Body Aircraft market is exhibiting a CAGR of 7.5% during (2022 - 2028). The rise in the growth of the segment is primarily owing to the high capacity of this type of aircraft. A wide plane with a lot of passenger capacity is referred to a wide-body aircraft. Although they can occasionally be utilized for shorter flights, wide-body aircraft are nearly always used to fly long-range and medium-haul trips.
The North America market is showing high growth in the Global Flight Management Systems (FMS) Market by Region in 2021; thereby, achieving a market value of $1.6 billion by 2028. The Europe market is poised to witness a CAGR of 6.6% during (2022 - 2028). Additionally, The Asia Pacific market is anticipated to witness a CAGR of 8.2% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Honeywell International, Inc., General Electric (GE) Co., Thales Group S.A., Garmin Ltd., Universal Avionics Systems Corporation, Leonardo SpA, Lufthansa Systems GmbH & Co. KG, TransDigm Group, Inc., Raytheon Technologies Corporation and The Boeing Company
By Aircraft Type
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