PUNE, India, December 14, 2016 /PRNewswire/ --
The report "Aircraft Flight Control System Market by Type (Primary, Secondary), Application (Commercial, Business, Military), Platform (Fixed, Rotary), Aircraft Type (NBA, WBA, VLA, RTA), Technology (Fly-by-Wire, Hydro-Mechanical) and Region - Global Forecast to 2021", published by MarketsandMarkets, the market is projected to grow from USD 11.85 Billion in 2016 to USD 16.59 Billion by 2021, at a CAGR of 6.97% from 2016 to 2021.
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Browse 66 market data Tables and 67 Figures spread through 145 Pages and in-depth TOC on "Aircraft Flight Control System Market"
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Increasing demand for new aircraft as a result of growth in air travel across the globe and the need for global connectivity are major drivers for the Aircraft Flight Control System Market. Increasing demand for lightweight aircraft over the past few years has resulted in increased demand for flight control systems. In addition, the increasing demand for unmanned air vehicles (UAVs) in military applications is further expected to drive the demand for aircraft flight control systems in the military aviation sector.
The commercial aviation segment is projected to lead the aircraft flight control system market during the forecast period.
Based on application, the commercial aviation segment is expected to account for the largest market share of the aircraft flight control system market during the forecast period. The commercial aviation segment consists of narrow body aircraft, wide body aircraft, very large body aircraft, and regional transport aircraft. Increasing demand for new aircraft from regional airlines in the Asia-Pacific and Middle East regions is one of the key factors driving the global market for aircraft flight control system. Increasing air passenger traffic as a result of growing affordability is creating a demand for new aircraft, which in turn, is influencing the growth of the aircraft flight control system market.
Among platforms, the rotary wing segment of the aircraft flight control system market is projected to grow at the highest CAGR from 2016 to 2021.
Based on platform, the aircraft flight control system market has been segmented into fixed wing aircraft and rotary wing aircraft. The rotary wing segment of the aircraft flight control system market is projected to grow at the highest CAGR during the forecast period. The growth of the rotary wing segment of the aircraft flight control system market can be attributed to increasing demand for helicopters from the military sector. This demand for helicopters can be attributed to increasing application of helicopters for transportation, providing emergency medical services, and carrying out special missions.
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The North American region is estimated to account for the largest share of the aircraft flight control system market during the forecast period.
The North American region is estimated to lead the aircraft flight control system market during the forecast period, owing to technological advancements taking place in the aircraft flight control system and presence of key aircraft manufacturers, such as The Boeing Company (U.S.) and Bombardier Inc. (Canada), among others in the region. Increasing aircraft orders from these manufacturers by regional airlines in the Middle East and Asia-Pacific regions is driving the North America aircraft flight control system market. Growing military modernization programs, which include increased procurement of advanced fighter jets and unmanned air vehicles, among others is also expected to drive the North America aircraft flight control system market during the forecast period.
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Honeywell International, Inc. (U.S.), Safran S.A. (France), Liebherr Group (Switzerland), BAE Systems plc. (U.S.), Moog Incorporation (U.S.), and United Technologies Corporation (U.S.), among others are the key players operating in the aircraft flight control system market.
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