The Global Flight Management Systems market is accounted for $2.29 billion in 2017 and is expected to reach $4.63 billion by 2026 growing at a CAGR of 7.3% during the forecast period

LONDON, August 30, 2018 /PRNewswire/ -- According to Stratistics MRC, the Global Flight Management Systems market is accounted for $2.29 billion in 2017 and is expected to reach $4.63 billion by 2026 growing at a CAGR of 7.3% during the forecast period. Growing dependency on Flight Management System, technological advancements in FMS and growth in Airline Industry across the world are some of the factors fuelling the market growth. On the other side, ease of FMS to Cyber-Attacks and strict safety regulations are inhibiting the market. One of the major opportunities in the market is improved technology for heavy data storage and operational efficiency.

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Flight Management System is an essential part of airliner's avionics. It is a specialized computer system that computerizes a wide range of in-flight tasks and reducing the workload on the flight. The main function includes in-flight management and flight planning through the utilization of various sensors namely inertial navigation systems (INS) and global positioning systems (GPS).

On considering Air Craft Type, Wide-body aircraft (WBA) segment is used for the transport of commercial freight and cargo and other special uses. It is also called as jumbo jets because of its shape. It accommodates passengers depending on its capacity, as they vary diametrically into small wide air craft and large wide aircraft. The demand for WBA is rising significantly across the globe due to a rise in passenger traffic. The escalating connectivity between the main geographical locations of growing regions and the most developed urban regions has led to a boost in the demand for fuel efficient aircraft in order to reduce the travelling costs. They are highly used in science, research, and the military across the country.

By Geography, Asia pacific is expected to hold large volume due to the increase in aircraft orders as well as deliveries in deeloping countries such as India and China. As well as low-cost carriers due to the adoption of advanced flight management systems.

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