Press release
Flight Navigation System Market Analysis by Top Key Vendors: Honeywell, Moog Inc., Northrop Grumman, Raytheon, Rockwell Collins, Boeing, Esterline Technologies
The Global Flight Navigation System Market is expected to grow at a CAGR of around 7% during 2016-2021. The key factors driving the growth are increasing aircraft fleet, demand for avionics system with gen-next aircraft, demand for accurate flight navigation, capability of handling more air traffic, collision avoidance systems, gyroscopes, and integration of early warning radar.
Some of the key players in the Global Flight Navigation System Market are Honeywell, Moog Inc., Northrop Grumman, Raytheon, Rockwell Collins, Boeing, Esterline Technologies, GE Aviation, Sagem, and Navtech.
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Synopsis & Scenario
As per the MRFR analysis, factors such as cyber-attack, high cost of autopilot system, and automation safety issue are identified as restraining factors to the market growth. However, the global market of Flight Navigation System is expected to post a stunning CAGR of ~ 7% during the forecast period 2016-2021.
Demand of non-directional beacon, next generation avionics, and demand for aircraft condition monitoring system (ACMS) are the ongoing trends which will impact the market during the forecast period Owing to the demand for the most advanced navigation systems, which will ensure the safety and security of passengers, Sensors segment is expected to hold the largest share in market during the forecast period. Prominent airlines from the Middle East region such as Air Arabia, Qatar, Etihad, and Emirates Airlines are expected to contribute to the market growth of the flight navigation systems. The Middle East will witness the maximum traffic upsurge during the forecast period. RoW region is likely to rise at the maximum CAGR for flight navigation system market.
Equipped with multiple systems such as autopilot, sensors, flight management systems, global navigation satellite systems (GNSS) and automatic direction finder, Flight navigation systems are used for guiding and controlling the aircrafts. Navigation systems function upon the instrument flight rules (IFR) or visual flight rules (VFR).
Advanced FN Systems are proficient of handling large air traffic. The shift toward non-directional beacon (NDB) radio transmitters is expected to have positive impact on the industry. The advancement in en-route automation modernization (ERAM), flight management system, automatic dependent surveillance (ADS-B), aircraft condition monitoring system (ACMS), and GPS-aided geo augmented navigation (GAGAN) will proved to be efficient for controlling and managing aircrafts in the years to come.
Target Audience
• Radio and transmitter OEMs
• System/Component Suppliers
• Potential Investors
• Key executive (CEO and COO) and strategy growth manager
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