The North America Flight Management Systems Market is Projected to Grow to USD 168.77 Million by 2019 at a CAGR of 7.23%

Dec 11, 2015, 10:30 ET from MicroMarket Monitor

PUNE, India, December 11, 2015 /PRNewswire/ --

According to the new Market Research Report "North America Commercial Flight Management Systems Market by Cockpit Architecture (VIA, WBA, NBA, and RTA), Hardware (FMC, CDU, and VDU) Forecast and Analysis to 2019", the North America flight management systems market is projected to grow to USD 168.77 million by 2019 at a CAGR of 7.23% during the forecast period of 2014 to 2019.

Browse through the TOC of North America Flight Management Systems Market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.

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Passenger traffic and aircraft orders in North America are on the rise which is leading to increasing demand for flight management system. New product launches as well as partnerships and collaborations are the key strategies adopted by market players to ensure there is higher growth in the flight management system market. The demand for NextGen avionics is majorly driven by the trends in aviation industry where aircraft deliveries and aircraft in operation have always influenced the industry. The expected deliveries for narrow body lead among the type of aircrafts and so the market share of narrow body during the forecast period.

The flight management systems market worldwide is driven by factors such as enhanced capability of avionics systems for NextGen aircraft, improvisation in operational planning airlines, need for efficient fuel management, and the way forward for line-fit and retrofit. Growth in this market will continue to depend largely on passenger travel as increase in passenger number will increase the number of aircraft and flight management system in aircraft. However, slow economic growth dampening the near term prospects, aircraft backlogs, and limited data storage capacity are the key restraints of the FMS market.

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The report comprehensively covers the North America Flight Management System market, which has been segmented on the basis of cockpit architecture, hardware type, fit and countries. Cockpit Architecture is divided on the basis of type of aircraft such as very large aircraft, wide body aircraft, narrow body aircraft and regional transport aircraft. The major hardware types include visual display unit, control display unit and flight management computer. The major countries covered in the report are the U.S. and Canada.

Key Players of the North America Flight Management Systems Market include:  

Honeywell International Inc. (U.S.), General Electric Company (U.S.), Esterline Technologies Corporation (U.S.), and Rockwell Collins (U.S.), Thales Group (France) and  Universal Avionics Systems Corporation (U.S.) among others and so on.

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SOURCE MicroMarket Monitor