Flight Navigation System Market: Is Set To Garner Staggering Revenues By 2016 - 2024
- Anna Sibley
- Mar 10, 2021
- 2 min read
Flight Navigation System Market: Overview
The global flight navigation system market is experienced a steady growth throughout the forecast period from 2015 to 2021. The flight navigation management system market is highly competitive, with a limited number of market players. This system accommodates navigation and performance with aircraft system operations and integrates all the major functions starting from engine start and departs to landing and engine shut-down. Apart from this, NextGen system of flight navigation is expected to resolve the future of aircraft. The flight navigation system market is expected to grow with a steady growth rate in short period of time. However, in the long run, the market is expected to have huge ample opportunities. The technological transformation in the aircraft industry is the major driving factor behind the growth of this market.
Major market players adopted some market strategies to increase their market share and expand their global presence includes agreements, partnerships, mergers, acquisitions, joint ventures, collaborations and new product launches. Growing demand for better fuel management system associated with high growth in emerging markets has encouraged companies to adopt these growth strategies. Leading market players are focusing launching new innovative products to enter into new markets.
Flight Navigation System Market: Segmentation
The global flight navigation system market is segmented into product types, flight instruments, applications and navigation systems for unmanned aircraft systems, and geography. The product type is categorized on the basis of communications systems and avionics systems. The communication systems are segmented into automatic dependent surveillance, portable avoidance collision system, aircraft communication addressing and reporting systems, and aircraft transponders. In addition, the communication device by type is segmented into satellite and air band radio. Furthermore, on the basis of avionics systems, the market is segmented into hyperbolic navigation systems, radar, VOR/DME, INS, GNSS, ILS, Doppler Navigation system, Automatic Direction Finder, FMS, and heads-up display.
Based on different technological trends, the global flight navigation system market is bifurcated into inertial reference systems, performance-based navigation and replacing marker beacons by DME.
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Flight Navigation System Market: Key Players
Some of the key players operating in the flight navigation system market are Rockwell Collins (U.S.), Honeywell International Inc. (U.S.), Northrop Grumman Corporation (U.S.) and Raytheon Company (U.S.). These are the major players dominates this market at present and is expected to strengthen their market positions globally over the forecast period. Other significant key players in the global flight navigation systems market are Moog Inc (U.S.), Universal Systems Avionics Corporation (U.S.), Sagem (France), Esterline Technologies Corporation (U.S.), General Electric, Garmin Ltd, Jeppesen Inc, Lufthansa Systems and Navtech, Thales Group, Garmin Ltd. (Switzerland) among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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