Flight Management Systems Market is likely to witness an impressive CAGR of 7.2% during the forecast period. Increase in global aircraft orders, demand for next-generation flight management systems and advanced required navigation performance, immense growth in airline industry worldwide, development of glass cockpits resulting in better functional efficiency, among a host of others are the major factors expected to drive the growth of the global flight management systems market during the forecast period.
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Flight Management Systems Market Segment Insights:
By Fit Type:
The linefit segment accounted for the largest market share in 2018, and is expected to maintain its dominance during the forecast period. The growth of this segment is owing to the rise in aircraft orders as well as deliveries across the globe.
By Hardware Type:
The flight management computers segment is likely to witness the highest growth, driven by the increase in the demand for technologically advanced and lightweight flight management systems.
By Aircraft Type:
The very large aircraft segment is estimated to depict the highest growth during the forecast period. The key factors bolstering the growth of this segment are the need for long distance travel, upsurge in demand for higher capacity aircraft, and the rise in global air travel.
By Region:
North American and the European flight management system markets held the largest market share in 2018, and are expected to command the global market during the forecast period. Asia-Pacific is estimated to be the fastest-growing market, driven by the growth of the commercial low-cost carriers in the region. The need for technologically advanced flight management systems along with the increase in aircraft orders and deliveries are the prime drivers for the growth of the flight management systems market in this region. China and India are the growth engines of the region.
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- Market segment trend and forecast
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- Attractive market segments and associated growth opportunities
- Emerging trends
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