Electronic Flight Instrument System Market to offer a healthy CAGR of 7.2% during 2020-25
February 07, 2020
Electronic Flight Instrument System Market Overview:
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.
Report Overview:
This new report from Stratview Research analyses the Electronic Flight Instrument System Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Electronic Flight Instrument System Market Segment Insights:
Navigation: The growth engine
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.
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A highly/moderately/fragment consolidated Market
Some of the major players in the electronic flight instrument system market are 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., and Rockwell Collins, Inc.
Regional Hegemony of North America & the dominance of Flight Management Controls & Systems
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.
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.
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