ID: MRFR/A&D/1102-HCR | February 2021 | Region: Global | 103 pages
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.
The global flight navigation system market was valued at USD 13,622.93 million in 2018 and is projected to grow at 7.0% CAGR during the forecast period, 2019 to 2025.
Segmentation of the Global Flight Navigation System Market
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.
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).
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.
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.
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.
Frequently Asked Questions (FAQ) :
global navigation system market is estimated to procure a significant market value during the forecast period from 2019 to 2025.
global flight navigation system market is anticipated to expand at a CAGR of 7.0% during the forecast period from 2019 to 2025.
The altimeter segment is anticipated to acquire the largest market share along with the highest CAGR during the forecast period from 2019 to 2025.
Stringent government regulations for flight navigation systems can hamper market growth during the forecast period from 2019 to 2025.
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.