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Flight Management Systems (FMS) Market worth 3.13 Billion USD by 2021

Various factors, such as demand for next generation flight management systems and advanced required navigation performance, development of glass cockpits resulting in better operational efficiency, significant growth in airline industry worldwide, and augmented fleet orders globally are expected to drive the flight management systems market. This market has witnessed a substantial growth in recent years.

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Flight Management Systems (FMS) Market worth 3.13 Billion USD by 2021

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  1. MarketsandMarkets Presents • Flight Management Systems (FMS) Market worth 3.13 Billion USD by 2021 • Drivers • Opportunities •  Challenges • Various factors, such as demand for next generation flight management systems and advanced required navigation performance, development of glass cockpits resulting in better operational efficiency, significant growth in airline industry worldwide, and augmented fleet orders globally are expected to drive the flight management systems market. This market has witnessed a substantial growth in recent years.

  2. Line Fit is expected to grow at the highest rate in the flight management systems market The global flight management systems market has been segmented and analyzed in terms of two types, namely, line fit and retrofit, wherein, the line fit segment dominates the overall market in terms of market size, and is expected to exhibit a similar trend during the next five years owing to the rise in aircraft orders and deliveries worldwide. It has also been noticed that in emerging countries such as India and China, there has been an increase in passenger travel, giving rise to low-cost carriers. ♦ Get More Information-https://www.marketsandmarkets.com/pdfdownload.asp?id=1105 The flight management computers segment is expected to exhibit the highest growth during the forecast period The global flight management systems market, by hardware has been segmented into visual display unit, control display unit, and flight management computers. The flight management computers segment is estimated to register the highest CAGR owing to the increase in demand of technologically advanced as well as lightweight flight management computers.

  3. The market in the APAC region is expected to grow at the highest rate during the forecast period The market in APAC is expected to grow at the highest CAGR between 2016 and 2021 owing to the increase in aircraft orders as well as deliveries in emerging economies such as India and China. The rise in low-cost carriers as well as the need of technologically advanced flight management systems is also an important factor which is the fueling the growth of the market in this region. Honeywell International Inc. (U.S.) is one of the key players in the flight management systems market. The other major players in this market include Thales Group (France), General Electric Company (U.S.), Leonardo-Finmeccanica S.p.A (Italy), Rockwell Collins (U.S.), Esterline Technologies (U.S.), Garmin Ltd. (Switzerland), Universal Avionics Systems (U.S.), Lufthansa Systems (Germany), Jeppesen Sanderson, Inc. (U.S.), and Navtech, Inc. (Canada).

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