According to the latest report by IMARC Group, titled “Flight Management Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global flight management systems market size reached US$
3.2 Billion in 2022. A flight management system (FMS) refers to a system that computes all relevant aspects of a flight using navigation and performance databases stored in the unit, as well as pilot entered data. These systems have evolved from simple point-to-point lateral navigators to the highly sophisticated multisensory and optimized flight planning navigation systems. They provide primary navigation, flight planning, trajectory prediction, and optimized route and en route guidance to pilots.
Global Flight Management Systems Market Trends:
Over the years, the launch of modern aircraft across the globe has created a positive impact on the industry. These airplanes are incorporated with flight management systems that offer enhanced navigation, lower power consumption, reduced weight and glass cockpits, thereby improving flight operations. Furthermore, several leading companies are also developing advanced technologies, such as next-generation flight management systems (NGFMS), to meet the changing industry needs. For instance, Honeywell International, Inc. has designed an NGFMS that is optimized for future air traffic management (ATM) and delivering improved fuel efficiency, enhanced safety, lowered direct operating costs, and reduced pilot workload. Market players are further developing FMS software by undertaking research and development (R&D) activities to improve and innovate both new and existing technologies. As a result of these factors, the market value is projected to reach US$
3.9 Billion by 2028, expanding at a CAGR of
2.3% during 2023-2028.
- Based on the fit, the market has been bifurcated into line fit and retrofit. Line fit systems currently dominate the market.
- On the basis of the aircraft type, the market has been segregated into narrow body, wide body, very large and regional transport aircraft.
- The market has been categorized based on the hardware into visual display unit, control display unit and flight management computers. At present, flight management computers account for the largest share.
- Region-wise, North America holds the leading position in the market. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined, with some of the key players being Honeywell International, Inc., Thales Group, General Electric Company, Rockwell Collins, Esterline Technologies Corporation, Garmin Ltd., Universal Avionics Systems Corporation, Jeppesen Sanderson, Inc., Navtech, Inc., Lufthansa Systems GmbH & Co. KG and Leonardo-Finmeccanica S.p.A.
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