Global Market Insights Inc. announces an ongoing comprehensive report on the “Flight Navigation System Market, Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Poland, Belgium, Netherlands, Russia, Japan, China, India, South Korea, Malaysia, Sri Lanka, Brazil, Argentina, UAE, South Africa, Saudi Arabia), Growth Potential, Competitive Market Share & Forecast, 2020 – 2026”. This report provides an exhaustive account of the industry including:
- Flight Navigation System Market size, historical from 2015 to 2019 and annual forecast from 2020 to 2026
- Major Flight Navigation System industry trends, technology evolution, economic indicators and business challenges
- Regulatory and geopolitical trends impacting the industry
- Business drivers and pitfalls impacting key regional markets
- Competitive landscape of the industry and detailed profiles on the major companies
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Rising number of initiatives undertaken by governments worldwide for enhanced air navigation will propel flight navigation system market share. For example, last year in June, the Air Navigation Services Providers (ANSPs) and the Commission of the Economic Community of West African States (ECOWAS) proposed a joint effort strategy to outline a tactic for promoting a coordinated air navigation system in the region that would comply with the SARPs (Standards and Recommended Practices) of the ICAO (International Civil Aviation Organization).
The aviation industry, which had been in a rapid expansion mode since the last few years, is also projected to have played a major role in the expansion of flight navigation system market share. However, due to the ongoing COVID-19 crisis, the aerospace business is one of those that has taken a major hit, owing to which it is anticipated that the demand for flight navigation systems may be slightly impacted.
In terms of the platform, rotary wing aircraft segment is anticipated to emerge lucrative in the flight navigation system market. Rotary wing aircrafts are usually powered with the help of rotating blades and are used massively during emergency situations. Rotary wing air ambulances for example, are more in demand where patients have to be transported for a shorter distance in minimal time. Driven by their ability to land at given place has increased the reliability of rotary wing aircraft, which has in consequence, increased flight navigation system market size from this segment.
In terms of the product spectrum, communication, navigation and surveillance (CN&S) systems are gaining exceptional traction. Increasing investments by aerospace companies in bringing forth newer and more advanced equipment for cockpits and airframes will push CN&S segment growth. Rising number of R&D activities to launch innovative flight navigation systems has also played a major role to augment the demand for CN&S systems. For instance, within SESAR2020, project (PJ) 14 (EECNS (Essential & efficient CN&S integrated system) will be researching the next-gen of communication navigation and surveillance technologies, focusing on the needs of the SES (Single European Sky), considering the global nature of the aviation industry.
North America is expected to come up as one of the most dependable investment grounds for flight navigation system market. This can be credited to the well-established aviation industry in the region. As per aviationbenefits.org, in 2016, air transport was responsible for supporting close to 7.3 million jobs and contributed around USD 844 billion toward the economic activities of North America. This accounted for 4.2% of all GDP and 4.3% of all employment in the United States and Canada in the same year. The presence of major aerospace companies in the continent in tandem with the increasing technological advancements will also help augment the regional flight navigation system market growth.
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Some of the companies mentioned in the flight navigation system market include Honeywell International Inc., Universal Avionics Systems Corporation, Esterline Technologies Corporation, Rockwell Collins, Inc., Northrop Grumman Corporation, Raytheon Company, Garmin Ltd., The Boeing Company, and MOOG, Inc.
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