Flight Navigation System Market to Showcase High Growth; to Cross USD 22.5 BN Mark by 2026
Posted On March 03, 2020
During the period of 2020-2026 it is expected that the Global Flight Navigation System Market will showcase a CAGR of 6.5%. The market is foreseen to reach USD 22.5 BN by 2026 while it was valued at USD 14.5 BN in 2019 as stated in a the published market study by Value Market Research. The boosting acquisition of an aeroplane in commercial flight regions with rising passenger improving military expenditures of the countries respectively are predicted to drive the growth of the market during the forecast time. The advancement of refined independent provincial satellite navigation systems is anticipated to boost the growth of the global flight navigation systems market in the looming years. The downfall of components of navigation systems might direct to the grounding of an airliner and in several examples may head to casualties jeopardizing the lives. Such circumstances are predicted to hinder the growth of organizations as they may sacrifice their long-standing coalitions.
Flight navigation systems help in specifying the position of aircraft in the sky by retaining a path and with concern to the surface of the globe. The primary objectives of flight navigation systems are delivering better precision and position services to aircraft flyers. These systems also promote pilots securely land in uncertain or risky climatic situations. Flight navigation accepts place through different techniques that are used by the flyers to navigate the plane in the present-day aircraft system. These navigation systems comprise of navigation database prepared of all the crucial elements of the flight.
The initial sections of the report "Global Flight Navigation System Market Report By Product (Flight Control System, Flight Management System, Navigation System, Surveillance And Communication System), By Application (Fixed Wing, Narrow Body Craft, Wide Body Aircraft, Very Large Aircraft, Regional Aircraft And Rotatory Wing) By Flight Instrument (Autopilot, Altimeter, Magnetic Compass, Gyroscope And Sensors) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" starts with the introduction, a crisp market summary followed by detailed revenue analysis as per segments and regions. The study digs deep to identify the market drivers, restraints, opportunities and threats in the near future.
On the basis of product the market is segmented into flight control system, flight management system, navigation system, surveillance and communication system.
On the basis application the market is segmented into fixed wing, narrow body craft, wide body aircraft, very large aircraft, regional aircraft and rotatory wing.
On the basis flight instrument the market is segmented into autopilot, altimeter, magnetic compass, gyroscope and sensors.
The RRRR is the leading revenue contributor due to DRIVERS. The other regions studied in the report are North America, Europe, Latin America and Middle East & Africa. The regional spread of all the segments and sub segments are detailed in the report.
The Report Segments Global Flight Navigation System Market -
- Flight Control System
- Flight Management System
- Navigation System
- Communication System
- Fixed Wing
- Narrow Body Craft
- Wide Body Aircraft
- Very Large Aircraft
- Regional Aircraft
- Rotatory Wing
By Flight Instrument
- Magnetic Compass
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Esterline Technologies Corporation, Garmin Ltd., Honeywell International Inc, MOOG, Inc., Northrop Grumman Corporation, Raytheon Company, Rockwell Collins, Inc., Sagem, The Boeing Company and Universal Avionics Systems Corporation.
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