The flight management systems (FMS) market has shown significant growth, increasing from $3.13 billion in 2023 to $3.38 billion in 2024, with a CAGR of 8.0%. This growth is driven by the rise in commercial air travel and regulatory mandates for enhanced flight safety. The market is expected to reach $4.61 billion by 2028, achieving a CAGR of 8.1%. Factors contributing to this growth include the adoption of advanced trajectory management systems and increasing production rates of aircraft. Key trends include the shift toward electric and hybrid aircraft, as well as the integration of IoT and blockchain technologies in aviation data management.
Major Driver In The Flight Management Systems FMS And Stable Market
The flight management systems (FMS) market is expected to thrive as global fleet orders rise. Airlines and leasing companies are expanding or modernizing their fleets in response to increased air travel demand. FMS are essential for enhancing operational efficiency and navigation precision in these growing fleets. The General Aviation Manufacturers Association reported an 11.8% increase in piston airplane deliveries, totaling 1,682 units in 2023, along with a total value of airplane deliveries reaching $23.4 billion, showcasing the strong growth trajectory of flight management systems driven by rising fleet orders.
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Flight Management Systems FMS And Stable Market Competitive Landscape
Raytheon Technologies Corporation, Boeing Company, General Electric Company, Northrop Grumman Corporation, Honeywell International Inc., Lufthansa Systems, Innovative Solutions & Support, BAE Systems, Thales Group, Leonardo S.p.A., Elbit Systems, Curtiss-Wright Corporation, Esterline CMC Electronics, Universal Avionics Systems Corporation, Genesys Aerosystems, FreeFlight Systems, BendixKing, Comsoft GmbH, Safran Electronics & Defense, DAC International Inc., Avidyne Corporation
Key Flight Management Systems FMS And Stable Market Trend
Major companies in the flight management systems (FMS) market are driving innovation by introducing advanced technologies like guided visual procedures to enhance pilot guidance during visual approaches. Guided visual procedures leverage cutting-edge flight management systems to offer precise navigational support during visual landings, significantly boosting safety and operational efficiency. For instance, in October 2023, Honeywell International Inc., a leading US-based technology firm, unveiled its Flight Management System Guided Visual Procedures as a standalone option. This offering provides both lateral and vertical guidance during visual approaches, improving approach consistency and reducing pilot workload. Honeywell’s latest advancement underscores its commitment to enhancing aviation safety and efficiency, reinforcing its position in the FMS market.
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Flight Management Systems FMS And Stable Market Segmentation
The flight management systems (FMS) and stable market covered in this report is segmented –
1) By Aircraft Type: Narrow Body Aircraft, Wide Body Aircraft, Very Large Aircraft, Regional Transport Aircraft
2) By Fit: Line Fit, Retrofit
3) By Hardware: Visual Display Unit (VDU), Control Display Unit (CDU), Flight Management Computers (FMC)
By Geography:The regions covered in the flight management systems (FMS) and stable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the flight management systems (FMS) and stable market in 2023.
The Flight Management Systems FMS And Stable Global Market Report 2024 furnishes information about the global flight management systems fms and stable market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
