30 October 2020
Visiongain has published a new report on Flight Navigation System (FNS) Market Report : Forecasts by Flight Instrument (Autopilot, Altimeter, Gyroscope, Sensors, Magnetic Compass), by System (Flight Control Systems, Communication, Navigation & Surveillance (CNS) Systems, Flight Management Systems), by Aircraft Type (Narrow Body, Wide Body, Very Large, Regional Transport, Helicopter), by End Use (OEM, Aftermarket) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
Global flight navigation systems market is estimated to be valued at US$ xx billion in 2021 and is projected to grow at a CAGR of xx% to reach a market value of US$ xx billion by 2031. Flight navigation systems market has been witnessing strong growth over the past few years on account of increasing demand aircraft deliveries across the globe. Demand from airline operators to increase flight safety and accurate location services is also one of the major factors driving the market growth for flight navigation systems in the recent past. In addition, air travel has increased significantly in the recent past owing to rise in international tourism, affordable air travel, and growth of low cost carrier airline operators across the globe. Increasing demand for commercial aircraft has directly impacted the market for flight navigation systems. Majority of aircraft manufacturers are investing significantly on the R&D activities to enhance location services through satellite based GPS services, and enhanced network connectivity. Flight navigation systems enhance accuracy in aircraft location and enables pilot to land aircraft safely even in extreme weather condition. However, the ongoing pandemic of Covid-19 has hampered the air travel considerably in 2020 and airline operators have kept their plans for the procurement of new aircraft on hold due to economic instability and negative impact on international trade and tourism. As result the flight navigation systems market is expected to witness slower growth during the first half of the forecast period.
COVID-19 Impact on Flight Navigation Systems Market
Imposition of lockdown in majority of the countries due to ongoing pandemic of Covid-19, the demand for air travel has dropped significantly in the recent months and is expected to recover its stability slowly over the next two to three years. Covid-19 has impacted global economies significantly in 2020 and is expected to affect the capital expenditures of major airline operators across the globe. As a result, the demand for commercial aircraft including narrow body, wide body aircraft and very large body aircraft is expected to decline in near future. Due to lesser demand for aircraft from commercial aviation sector, the demand for flight navigation systems is expected to fall. It is anticipated that the market will see positive growth in narrow body aircraft segment from 2022 as a result of recovery in domestic air travel in major countries in North America, Europe, and Asia Pacific. On the supply side of the flight navigation systems, major companies have been affected by the pandemic in terms of production plans, raw material procurement, deliveries, and order books. Companies are taking necessary preventive measures to restart their manufacturing process while ensuring safety and contain the spread of Covid-19 at the work place.
Some of the company’s profiled in this report include The Boeing Company, Esterline Technologies Corporation, Raytheon Company, Garmin Ltd., Rockwell Collins, Inc., Northrop Grumman Corporation, Universal Avionics Systems Corporation, Rockwell Collins, Inc., Sagem, and Honeywell International Inc.
• In 2020, Aerion Supersonic has awarded a contract to BAE Systems for supplying Flight Control System for its new supersonic jet which is under development. Under this contract, BAE Systems will design, manufacture and integrate fly-by-wire flight control systems on Aerion’s new AS2 aircraft.
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30 October 2020
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