Flight Navigation System Market Size Anticipated to Reach at a USD 13,622.93 Million By 2032 And Is Projected To Grow At 7.0% CAGR 2022 to 2032
Flight navigation systems assist in determining the position of an aircraft by accurately maintaining a direction and with respect to the surface of the earth. The major purposes of flight navigation systems are offering enhanced accuracy and location services to pilots. These systems also assist pilots securely land in unpredictable or dangerous climatic conditions.
Factors such as increasing air passenger traffic and growing demand for passenger and aircraft safety is bolstering the growth of flight navigation systems market. For instance, in 2015, India adopted a new navigation system named Gagan that offers enhanced safety and accuracy to pilots. Furthermore, increasing aircraft manufacturing and modernization are boosting the global flight navigation system market. Hence, the increase in passenger traffic and subsequent demand for passenger safety will positively affect the growth of the global flight navigation system market.
Governments of developing countries, such as China and India, are investing in developing airports with advanced technologies to offer enhanced services to growing passenger traffic. For instance, in 2018, China built is own navigation system named Beidou, a GPS navigation system that can be implemented in smartphones, ships, aircraft, and autonomous vehicles. Therefore, technological advancements are also bolstering the market growth. However, stringent government regulations about flight navigation systems might hamper the growth of the market.
Airbus Integration of ILS (Instrument Landing System): In June 2022, Airbus announced the integration of the traditional Instrument Landing System (ILS) with a satellite-based system (SLS) for its A320 and A330 families. This recent development by a major industry player enhances landing precision and reliability.
Honeywell: As a major industry player, Honeywell continually develops new navigation systems. Stay updated on their website for news about contracts, product launches, and technological advancements in flight navigation systems.
Based on flight instrument, the global market has been segmented into gyroscope, altimeter, autopilot, sensors, and magnetic compass. The altimeter segment accounted for the largest market share in 2018 and is expected to witness the highest CAGR during the forecast period, 2019 to 2025. The demand for enhanced accuracy and passenger safety is driving the need for altimeters in the market.
Based on product, the global market has been segregated into communication, navigation, and surveillance (CN&S) system, flight control system, and flight management system. The flight control system segment accounted for the largest market share in 2018 and is expected to grow at the highest CAGR during the forecast period. The growing demand for advanced and accurate navigation systems are driving the market for flight navigation systems. These systems assist in governing the altitude of an aircraft by following the flight path of the aircraft. Therefore, the segment is anticipated to witness the fastest growth over the forecast period.
Based on application, the global market has been divided into fixed-wing and rotary-wing. The fixed-wing segment dominated the market in 2018 and is expected to witness a higher CAGR during the forecast period. Factors such as lower maintenance costs, higher capacity, and longer flight range are driving the fixed-wing segment in the market over the forecast period.
Based on the region, the market has been categorized as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America held the largest market share in 2018. However, Asia-Pacific is expected to grow with the highest CAGR during the forecast period, 2019 to 2028. Technological advancements and growing adoption of navigation systems by developing economies such as China and India are driving the market in the region. Additionally, the growing passenger traffic is driving market growth in Asia-Pacific.
Key Players
The key players in the global flight navigation system market are Collins Aerospace (US), Northrop Grumman Corporation (US), Honeywell International Inc (US), Raytheon Company (US), MOOG, Inc. (US), Boeing (US), Universal Avionics Systems Corporation (US), Garmin Ltd. (US), Safran (France), and Esterline Technologies Corporation (US).
Research Methodology
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
Secondary Research
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
Primary Research
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
Key Insights
Company Profiles
Country-Level Analysis
Flight Navigation System Market Highlights:
Frequently Asked Questions (FAQ) :
global navigation system market is estimated to procure a significant market value during the forecast period from 2022 to 2030.
global flight navigation system market is anticipated to expand at a CAGR of 7.0% during the forecast period from 2022 to 2030.
The altimeter segment is anticipated to acquire the largest market share along with the highest CAGR during the forecast period from 2022 to 2030
Stringent government regulations for flight navigation systems can hamper market growth during the forecast period from 2022 to 20230.
Collins Aerospace (U.S.), Northrop Grumman Corporation (U.S.), and Honeywell International Inc (U.S.) are some of the key players in the global flight navigation system market.
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Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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