Flight Navigation System Market Analysis | 2021-2026

Market Insights

The flight navigation system market was estimated at USD 15.6 billion in 2020 and is likely to grow at a CAGR of 6.2% during 2021-2026 to reach USD 22.2 billion in 2026.

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Market Dynamics

Introduction

Flight navigation systems are designed to assist in determining the position of an aircraft by accurately maintaining a direction. Flight navigation systems offer enhanced accuracy and location services to pilots. It also assists pilots in securely landing in unpredictable or dangerous climatic conditions.

Market Drivers

The growth of the flight navigation system market is primarily driven by increasing product use in aircraft to assist in secure landings. Significant growth of the aviation industry with rising demand for aircraft is likely to drive the market growth at a significant rate during the review period. In addition to this, increasing demand for advanced flight navigation systems is likely to create lucrative opportunities for the players operating in the global market in the coming years.

COVID-19 Impact

The COVID-19 outbreak negatively impacted the growth of the flight navigation system market. The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions, which in turn affected the product supply and demand for a short period.

Segment Analysis

By Product Type

"The flight control system segment accounted for the largest market share."

The flight navigation system market has been bifurcated into flight control systems, flight management systems, navigation systems, surveillance, and communication systems. The flight control system segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period.

Regional Insights

"North America accounted for the largest market share."

The market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the presence of an established aviation industry in the US, coupled with the presence of key market players such as The Raytheon Company (US) and Universal Avionics Systems Corporation (US). The market in Asia-Pacific is expected to be driven by the growing aviation industry in developing countries, particularly in China and India.

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Key Players

Key players operating in the flight navigation system market are:

• The Raytheon Company (US)
• Universal Avionics Systems Corporation (US)
• The Boeing Company (US)
• Northrop Grumman Corporation (US)
• Esterline Technologies Corporation (US)
• Honeywell International Inc. (US)
• Moog Inc. (US)
• Garmin Ltd (US)
• Rockwell Collins (US)
• SAGEM (France)

Note: The above list does not necessarily include all the top players of the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s flight navigation system market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our flight navigation system market report from the industry stakeholders, we have tried to further accentuate our research scope to the flight navigation system market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

Market Segmentation

This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The flight navigation system market is segmented into the following categories:

By Flight Instrument Type

• Altimeter
• Gyroscope
• Autopilot
• Sensors
• Magnetic Compass

By Product Type

• Flight Control System
• Flight Management System
• Navigation System
• Surveillance
• Communication System

By Application Type

• Fixed-Wing
• Rotary-Wing

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respected clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].