LONDON, Jan. 26, 2017 /PRNewswire/ -- "Electronic flight instrument system market projected to grow at a CAGR of 5.60% during the forecast period"
The electronic flight instrument system market is projected to grow from USD 867.9 million in 2016 to USD 1,139.6 million by 2021, at a CAGR of 5.60% during the forecast period. Increasing need for lightweight systems with more functionalities and better accuracy and enhanced safety and situational awareness with the use of electronic flight instrument system (EFIS) are major factors expected to drive the market in the coming years. However, stringent industry regulations pertaining to EFIS and the high cost of technology used in EFIS may act as some of the major restraints for the electronic flight instrument system market.
The manufactured components need approval from various authorities, such as the U.S. Federal Aviation Administration (FAA), before they are installed on board an aircraft. Furthermore, it is difficult to obtain approval for the replacement of conventional systems onboard the aircraft.
"Based on application, the navigation segment is estimated to be the largest segment of the market in 2016"
Based on application, the navigation segment is estimated to be the largest segment of the electronic flight instrument system market, as navigation information is the most basic information needed to fly an aircraft as well as during landing and take-off operations.
"Based on subsystem, the communication & navigation systems segment is estimated to be the largest segment of the market in 2016"
Based on subsystem, the communication & navigation systems segment is estimated to be the largest segment of the electronic flight instrument system market in 2016. This can be attributed to the mandate for communication & navigation systems namely, Enhanced Vision System (EVS) and Automatic Dependent Surveillance-Broadcast (ADS-B) on board an aircraft.
"North America is estimated to be the largest market for electronic flight instrument system in 2016"
North America is estimated to lead the electronic flight instrument system in 2016. Countries in this region include the U.S. and Canada. Significant investments in research and development on advanced electronic flight instrument system by domestic players and increasing demand for lightweight and easy-to-install systems are some of the factors expected to boost the growth of the electronic flight instrument system market in this region. The U.S. is expected to drive the growth of the North America electronic flight instrument system market, owing to the access to innovative technologies and the significant investments made by manufacturers in the country for the development of improved electronic systems.
Break-up of profile of primary participants for this report:
- By Company Type: Tier 1 – 35%, Tier 2 – 45%, Tier 3 – 20%
- By Designation: C level – 35%, Director level – 25%, Others – 40%
- By Region: North America – 45%, Europe – 20%, Asia-Pacific – 30%, RoW – 5%
Key players operating in the electronic flight instrument system market are Honeywell International Inc. (U.S.), Rockwell Collins, Inc. (U.S.), Esterline Technologies Corporation (U.S.), Astronics Corporation (U.S.), L-3 Communications Holding Inc. (U.S.), Dynon Avionics (U.S.), Genesys Aerosystems (U.S.), Aspen Avionics (U.S.), Avidyne Corporation (U.S.), and Garmin Ltd. (Switzerland), among others.
The report analyzes the electronic flight instrument system market based on application (navigation, flight attitude, aircraft engine monitoring), subsystem (communication & navigation systems, display systems, flight management controls & systems, processing systems), fit (retrofit, linefit) and platform (fixed wing, rotary wing). The report also maps these segments and subsegments across major regions, namely, North America, Europe, Asia-pacific, and the rest of the world.
Reasons to buy the report:
From an insight perspective, the electronic flight instrument system market report focuses on various levels of analysis — industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss basic views on competitive landscape, high-growth regions, and countries, and their respective regulatory policies, drivers, restraints, and opportunities.
The electronic flight instrument system market report provides insights on the following pointers:
- Market Penetration: Comprehensive information regarding the competitive landscape in the electronic flight instrument system market
- Market Sizing: Market size in financial year 2014-2015 and projection of the market size between 2016 and 2021
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the electronic flight instrument system market
- Market Overview: Market dynamics and subsequent analysis of associated trends, drivers, restraints, and opportunities prevailing in the electronic flight instrument system market
- Market Development: Comprehensive information about lucrative markets by analyzing markets for electronic flight instrument system across various regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the electronic flight instrument system market
- Regional Analysis: Factors influencing the market shares of North America, Europe, Asia-Pacific, and rest of the world
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading market players
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