Significant Demand from APAC Will Boom Prospects for the Global Flight Management Systems Market Until 2020, Says Technavio
By Business Wire News
By Business Wire News
This research report titled ‘Global Flight Management Systems Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. To calculate the market size, the report considers the revenue generated from the overall market. It also presents the market segmentation based on aircraft type (wide-body, narrow-body, regional jets, and turboprop) and geography (the Americas, EMEA, and APAC).
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The structure of the airline industry is changing as regulations liberalize, and carriers expand beyond national borders. Low-cost carriers with reduced fares are venturing into new markets, and this trend is stimulating the demand for air travel to meet the needs of travel in the growing middle-class population.
“Automation enhances flight operational safety and efficiency, which is especially critical for commercial airlines. FMS are a proven safety aid during flight amid clouds, low visibility, or airspace congestion. The integration of advanced FMS and technologies, such as the autopilot system and cockpit display system, reduces the workload of the pilot and assures the availability of critical flight information,” said Abhay Singh, one of Technavio’s lead research analysts for heavy industries.
Segmentation of global FMS market by aircraft type 2015
• Regional jet
Source: Technavio research
Segmentation by narrow-body aircraft
The narrowbody segment was valued at USD 359.3 million in 2015. The market is witnessing high demand for low-cost and full-service carriers, especially from the APAC and Middle East countries, with the emergence of airlines such as AirAsia, Tata Vistara, Qantas, Etihad Airways, Qatar Airways, Tigerair, Lion Air, and Jetstar Airways.
In 2014, 14,140 narrow-body aircraft operated globally, and in the same year APAC recorded the highest number of narrow-body aircrafts with 4,130 planes, followed by North America with 3,850 and Europe with 3,240 aircraft. Asia, an emerging player in the airline market, has more than 10,000 narrow-body aircrafts expected to be delivered by 2034. Such procurement of narrow-body aircraft will result in the higher acquisition of FMS during the forecast period.
Segmentation by wide-body aircraft
The widebody segment was valued at USD 168.8 million in 2015. In 2014, 4,880 wide-body aircraft were operational globally, which included large, medium and small wide-body aircraft.
With the growing aircraft orders and passenger traffic, it is expected that the global wide-body aircraft fleet size will reach 8,830, in which APAC will have more than 3,590 aircraft and the Middle East will have 1,740 aircraft by 2034.
Segmentation by regional jet aircraft
The regional jet aircraft segment was valued at USD 77 million in 2015. Regional jet service has grown over the last 10 years and has become the backbone of domestic air travel. Also according to Department of Transportation (DoT) data, the passenger traffic on small jets with 30-90 seats has tripled since 2000. In 2014, there were 2,580 regional jet aircraft in service globally. In the same year, North America recorded the highest number of regional jets, accounting for 1,700 aircraft, followed by Europe with 300 and APAC with 130 aircraft. With the growing aircraft orders and passenger traffic, it is expected that the global, regional jet aircraft will reach a count of 2,490 by 2020.
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