Technavio analysts forecast the global multi-function display (MFD) marketto grow at a CAGR of more than 9% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global multi-function displaymarket for 2016-2020. The report provides a comprehensive overview, market shares and growth opportunities by application such as commercial aerospace and military, and growth prospects by region including the Americas, EMEA, and APAC.
Technavio aerospace and defense analysts highlight the following three factors that are contributing to the growth of the global multi-function display market:
- Growing demand for automation
- Improved safety standards
- Increase in number of aircraft
Growing demand for automation
Automation enhances flight operational safety and efficiency and is especially critical for commercial airlines. It aims to cut down operating costs for greater profits. With the facilitation of GPS in aircraft, the pilot workload is significantly reduced with increasing situational awareness and safety. In 2014, 838.4 million passengers traveled by air on more than 8.5 million flights, globally. In the same year, a survey of airline pilots was conducted, which reported that the pilots operating Boeing 777s spent just seven minutes manually piloting their aircraft during a flight, whereas only half the time was required for those operating Airbus planes.
Digital cockpit systems are a proven safety aid during flight amid clouds, low visibility, or airspace congestion. The integration of advanced MFD systems and technologies, like autopilot system and flight management system (FMS), in the cockpits reduces the workload of the pilot and assures the availability of critical flight information. "The FAA recommends the development and installation of autopilots in an aircraft. It has also made the integration mandatory when a single pilot is operating the aircraft. Since the organization certifies the currently used autopilots at low cost, autopilot manufacturers are investing in the development of new digital smart autopilots that can be equipped with a variety of aircraft," says Abhay Singh, a lead analyst at Technavio for research on defense
Improved safety standards
As aircraft operations become more dependent on glass cockpit systems, flight crew and pilots must be trained to deal with possible failures. In 2008, United Airlines Flight 731 experienced a glass-cockpit blackout, where all communications to radios, transponders, traffic alert and collision avoidance system (TCAS), and attitude indicators were lost, and half of the electronic centralized aircraft monitor (ECAM) displays failed. However, the presence of backup analog displays for critical flight instruments such as the airspeed indicator and altimeter enabled the pilots to land the aircraft successfully at Newark Liberty International Airport, New Jersey without radio contact.
In 2010, 5,516 glass cockpit aircraft and 2,848 conventionally equipped US GA aircraft were operational. Of these, 266 aircraft met with accidents, where the glass cockpit aircraft suffered a lower accident rate compared to the conventional planes. Based on this observation, the US National Transportation Safety Board (NTSB) made recommendations to the FAA on glass cockpits in the same year.
Increase in number of aircraft
In 2014, the number of air travel passengers in developing regions such as APAC, Central America, Commonwealth of Independent States (CIS), Africa, and Eastern Europe was 6.3 billion, which was six-fold greater than the number of passengers in developed economies such as North America and Western Europe. India, particularly, had a passenger traffic of over 61.42 million in 2013, and it is expected to reach 367 million passengers by 2034. It is also predicted that the number of aircraft will rise to 800 aircraft by 2020, which would simultaneously increase the air traffic in the country. According to International Air Transport Association (IATA), the airports of Qatar, the UAE, Oman, and Kuwait might have to support 400 million passengers per year by 2020.
"The increase in air traffic in APAC, Central America, Africa, and the Middle East would result in a yearly 5.8% growth in revenue per passenger kilometer during the next 20 years. This would simultaneously lead to increasing investments in the maintenance and development of aircraft, driving the market during the forecast period," says Abhay.
Browse Related Reports:
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