The market report on the Electronic Flight Instrument System Market published by Stratview Research indicates lucrative growth opportunities in the Electronic Flight Instrument System Market industry during the next five-year period and ensures more information regarding the market trends. The following summary will give an overview of the challenges, trends, market dynamics, and key players.
Electronic Flight Instrument System Market Forecast:
The Electronic Flight Instrument System Market is likely to witness an impressive CAGR of 7.2% during the forecast period. Growing demand for lightweight systems with more enhanced functionalities and higher accuracy, improved safety and situational awareness with electronic flight instrument system, and automation of flight controls are the prime factors expected to bolster the growth of the electronic flight instrument system market globally during the forecast period.
The growth of this market principally depends upon several factors which have direct or indirect influence on the demand. The report published by Stratview Research has the summary of such factors derived using multiple analysis. These methods help in evaluating the potential of the companies and identify gaps, finding challenges as well as opportunities to lay out a successful roadmap which leads to higher profitability.
Here are the key players in the market –
- Avidyne Corporation
- Aspen Avionics, Inc.
- Astronautics Corporation of America
- Dynon Avionics
- Esterline Technologies Corporation
- Financial Highlights
- Garmin Ltd.
- Honeywell International Inc.
- L-3 Communications Holdings, Inc.
- Rockwell Collins, Inc.
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Electronic Flight Instrument System Market Segmentation:
The report segments are based upon applications, material, product type, demographics, geographics, benefits and volume etc. It also recognizes the most-attractive segments and sub-segments.
Electronic Flight Instrument System Market Share: By Application Type
Based on the application type, the market is segmented as navigation, flight attitude, and aircraft engine monitoring. The navigation segment is estimated to depict the highest growth during the forecast period. The growth of the segment is owing to the fact that pilots rely on navigation information, such as pitch, yaw, bank, and roll movements of the aircraft for safe flight operations. New and upgraded systems, such as Enhanced Vision System (EVS), terrain avoidance and warning system, global positioning system (GPS), and Automatic Dependent Surveillance-Broadcast (ADS-B) are the major drivers anticipated to underpin the growth of the segment during the forecast period.
Electronic Flight Instrument System Market Share: By Sub-System Type
Based on the sub-system type, the market is segmented as display systems, communication & navigation systems, flight management controls & systems, and processing systems. The flight management controls & systems segment is estimated to register the highest growth in the coming five years. Flight management controls & systems are the vital subsystems of the electronic flight instrument system. It comprises automated flight control and Electronic Flight Bag (EFB). Flight management controls & systems are likely to be progressively used in new aircraft, driven by the upsurge in automation in various in-flight tasks that the systems offer. This marks as one of the prime factors driving the growth of the segment.
Electronic Flight Instrument System Market Share: By Region
In terms of regions, North America is estimated to command the electronic flight instrument system market during the forecast period. The market in the North American region is driven by the presence of a large number of Original Equipment Manufacturers (OEMs) and major market players, such as Rockwell Collins, Inc. (U.S.), Honeywell International Inc. (U.S.), among others. On the other hand, Asia-Pacific is expected to emerge out as the fastest-growing market for electronic flight instrument system in the coming five years. This high and unprecedented growth is supported by the regional presence of giant OEMs, such as Microair Avionics Pty Ltd. (Australia) and Thomas Global Systems (Australia), technological modernization from traditional electro-mechanical to advanced electronic deck systems, and growing demand for lightweight systems on board aircraft.
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