2014-02-17 09:45:02 - Commercial Aviation Flight Management Systems Market: 2013-2018 - a new market research report on companiesandmarkets.com
The FMS market (flight management systems) is forecast to grow to a total value of around $1.8 billion by the end of 2018. This suggests a CAGR growth rate of 3% between 2013 and 2018. The US and Europe will be the fastest growing regions and the regions with the highest potential by 2018.The major task of FMS is to enhance aircraft efficiency ensuring better safety which is done with the help of analyzing inputs according to the changing flight parameters. This will optimize all the aspects of a flight by coordinating with commands of auto pilot and flight director. The aircraft operators always insist on better performance which means fuel efficiency in simpler terms. FMS manufacturers always keep on
improving the technology to cope up with the increased need for proper fuel management. So as a result of it there is a huge increase in investing on improving their operations in order to meet the growing traffic to make the air transportation safer and economically viable.The major industry players include Honeywell, Rockwell Collins, Thales, Jeppesen, Esterline, UASC, GE and Lufthansa Systems.Key Highlights- The FMS market is expected to grow slow within the study period; but this market is expected to grow huge in the long run
- The market size for FMS is expected to be $1.8 billion in 2018
- There are eight major market players in the world in this market who are mainly located in US and Europe
- There is much focus on the technology part of FMS since Nextgen and SESAR is going to make drastic changes in the global aviation industry
- The market is expected to grow at a CAGR of 3% during the period 2013-2018
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