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The flight navigation system is a set of instruments in a cockpit that assists pilots in navigating the aircraft during the flight. The system typically includes the tools and techniques that help pilots determine their position, course and altitude to plan and execute flight paths.
The demand for air transport will increase by around 4.3% per annum for the next 20 years. The growing demand is attributed to the expansion of aircraft fleet by airlines worldwide. The airlines have been ordering aircraft in bulk to expand their fleet. Recently, in February 2023, Air India ordered 470 Boeing and Airbus aircraft, the highest in the world. This substantial increase in aircraft is expected to drive the flight navigation system market.
The global economies also showed interest in procuring military aircraft also. This is due to the significant increase in defense expenditure of developed and developing economies to strengthen the military powers. This rise in demand is also predicted to fuel the flight navigation system market. Furthermore, the rising adoption of unmanned aerial vehicles (UAVs) for military and non-military applications is also anticipated to propel the market growth.
The rising standards and stringent regulations to enhance aircraft safety are expected to restrain the market growth. Additionally, the high cost of sophisticated flight navigation equipment, integration, maintenance, and frequent calibration is predicted to hinder market growth.
The COVID-19 pandemic and worldwide lockdown restrictions halted the global manufacturing industry. There was a significant decline in aircraft production capacity. In 2020, the orders for commercial aircraft dropped by 55% compared to the previous year and the number of deferred deliveries increased by five times.
The decline in demand and production of aircraft significantly impacted the demand for flight navigation system. The global restrictions also halted the research and development projects, leading to a significant decline in innovation in the flight navigation system domain. Furthermore, the pandemic also halted global commercial flight operations, dramatically affecting the demand for flight navigation system.
The flight navigation system market is segmented by component as autopilot, altimeter, gyroscope, sensors, and others. By subsystem the market is segmented into Inertial Navigation System (INS), Global Positioning System (GPS), Flight Management System (FMS), flight control system, communication system and others. Market segmentation by platform is as commercial aircraft, helicopter, military aircraft, and UAV. By end users, the market is divided into commercial, military, and civil.
The report will include the following key insights:
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North America is expected to lead the flight navigation system market during the forecast period. The market dominance is because of significant innovation and the presence of many key players in the flight navigation system space. The region is also a home for major aircraft manufacturers. Europe is expected to have a significant market share, followed by Asia Pacific. The Asia Pacific is expected to grow significantly due to the increasing investments in the in-house development and production of aircraft equipment and the promotion of emerging aircraft component manufacturers in South Asian economies like India and China.
The report covers the profiles of key players such as Northrop Grumman Corporation, Honeywell International Inc., Collins Aerospace, Boeing, Airbus, Raytheon Technologies, RESA, Thales Group, Safran, and others.
By Component | By Subsystem | By Platform | By End Users | By Geography | |
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