Aircraft Flight Control System Market by Component Cockpit Controls, Primary FCC, Secondary FCC,Based on type, the military UAV's FCS segment is projected to lead the aircraft flight control system market during the forecast period
Based on type, the aircraft flight control system market has been segmented into commercial fixed wing flight control system, military fixed wing flight control system, rotary wing flight control system and military UAV flight control system. The military UAV flight control system segment is projected to grow at a higher CAGR as compared to the commercial fixed wing flight control system from 2018 to 2023.
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Increasing demand for military UAV's used in surveillance and reconnaissance from the North American and European regions is fueling the growth of this segment of the market.
Based on end user, the linefit segment of the aircraft flight control system market is projected to grow at the highest CAGR from 2018 to 2023
Based on enduser, the market has been segmented into linefit and retrofit. The linefit segment is projected to grow at the highest CAGR during the forecast period. Increasing air passenger volume year on year is fueling the growth of this segment of the market.
Aircraft flight control systems market in the Asia Pacific is expected to witness the highest growth during the forecast period
Aircraft Flight Control System Market
The geographical analysis of the aircraft flight control system market includes regions such as North America, Europe, Asia Pacific, and Rest of the World (RoW). The North America region accounted for the largest share of the aircraft flight control system market in 2017. However, the Asia Pacific aircraft flight control system market is projected to grow at the highest CAGR during the forecast period due to the increase in passenger traffic and military aircraft in countries such as India, China, and Russia.
Driver: Increasing aircraft orders and deliveries
The rise in per capita income across countries has made air travel more affordable. This has further contributed to the increase in air passenger traffic, globally. According to study by the IATA conducted in May 2015, the number of passengers is expected to be greater than seven billion by 2035, with a growth of 4.1% per annum. The commercial aviation market is expected to triple in demand over the next 20 to 30 Furthermore, there has been an increase in the profitability of airliners due increased fuel efficiency of aircraft operations. Aircraft operational efficiency is determined by factors such as aircraft design, navigation & flight paths, and weather conditions. Advancement in navigational technologies, along with efficient aircraft operations such as flight operations, technical operations, and ground operations have enhanced the efficiency of aircraft operations. These factors have led to increasing aircraft orders across the globe, which is expected to impact the global aircraft flight control system market in near future.
Opportunity: New aircraft manufacturers in Asia Pacific
Emerging aircraft manufacturers in Asia Pacific and Latin America is one of the major opportunities for the growth of the aircraft flight control system market in the coming years. Commercial Aircraft Corporation of China, Ltd. (COMAC) of China, Embraer SA (Brazil), and Mitsubishi Aircraft Corporation (Japan) are some of the new companies operational in the manufacturing of aircraft. Mitsubishi Aircraft Corporation is engaged in the production of regional aircrafts, while COMAC manufactures commercial, business, and regional aircrafts. Rise in the demand for commercial aircraft, business jets, and regional transport aircrafts, owing to increased air passenger traffic is expected to provide these manufacturers growth opportunities for the production of new aircraft, and consequently lead to growth of the aircraft flight control system market during the forecast period.
Challenge: Stringent regulatory norms
The aviation industry is one of the highly regulated industries, mainly due to the inherent risk associated with flight operations. A multitude of bilateral, national, and international regulations and standards bind actions of aircraft and aircraft component manufacturers, including aircraft flight control system manufacturing companies. Countries across the globe have different regulatory bodies governing the safety levels associated with aircraft operation
Regional market shares and CAGRs of the Aircraft Flight Control System Market
Aircraft Flight Control System Market
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