DUBLIN, Mar. 03, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/tchq9f/flight_management) has announced the addition of the "Flight Management System Market by Cockpit Architecture, Hardware, Maintenance & by Geography - Forecast Analysis to 2014 - 2020 " report to their offering.
It is estimated that the global market would be valued at $601.36million in 2014; Asia-Pacific had the largest market with 36.76%, followed by Europe with 23.86%, and North America with 19.92% in 2013.
Flight Management System consists of a Navigation Database, which contains elements from which the flight plan is made. In other words, FMS integrates navigation and performance with aircraft operations and harmonize all the functions starting from pre-engine start and take-off to landing and engine shut-down.
Nextgen FMS is going to determine the future of aircraft. Research is going on to improve the aircraft performance, thereby making the aircraft more fuel efficient. Single European Sky ATM Research (SESAR) in Europe is mainly focused at improving air navigation systems to the next level of technology. Typically, introduction of 4D trajectory in air navigation is an initial step in it. The aircraft industry is expecting a huge technological transformation due to the Nextgen systems.
The flight management system market when considered for a short period of approximately five years cannot be expected to grow huge. There will be a slow, but steady growth for this short period of time. However, in the long run, the market is huge with ample opportunities. As said previously the technological transformation that takes place in the aircraft industry is the major reason behind this.
The market is highly dependent on the aircraft industry. The turns and turmoil in the aircraft industry will affect this market too. The investments made by airlines to increase operational efficiency of aircraft, can also be a driver for this market.
The flight management system market is expected to grow at a CAGR of 7.19% from 2014 to 2020. The market is expected to reach $912.20 million by 2020. The most potential region of growth in this market is APAC, followed by Europe. The market for Narrow Body Aircraft is expected to have huge opportunities by 2020. The agenda for the report includes a discussion on key high growth markets, thereby marking the growth trend in the market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Flight Management Systems Market, By Hardware
8 Flight Management Systems Market, By Cockpit Architecture, By Maintenance
9 Geographical Analysis
10 Competitive Landscape
11 Company Profiles
- Esterline Technologies Corporation
- Garmin Ltd.
- General Electric
- Honeywell International Inc.
- Jeppesen Inc.
- Lufthansa Systems
- Navtech
- Rockwell Collins
- Thales Group
- Universal Avionics
For more information visit http://www.researchandmarkets.com/research/tchq9f/flight_management
Media Contact: Laura Wood , +353-1-481-1716, press@researchandmarkets.net
