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Research and Markets has announced the addition of the "Flight Navigation System Market by Product (Avionics systems, Communication systems), Flight Instrument (Altimeter, Gyroscope, Autopilot, Sensors), Application (Commercial, Military) & by Geography- Forecast & Analysis to 2014 - 2020" report to their offering.
The global flight navigation system market was estimated at $10,392.87 million in 2014
Flight navigation systems consist of FMS that comprises a navigation database, which contains elements from which a flight plan is made. In other words, it integrates navigation and performance with aircraft operations and harmonizes all the functions starting from pre-engine start and take-off to landing and engine shut-down.
NextGen flight navigation system is going to determine the future of aircraft. Research is conducted to improve the aircraft performance, thereby making aircraft more fuel efficient. Single European Sky ATM Research (SESAR) in Europe is mainly focused at improving air navigation systems to the next level of technology. Typically, the introduction of 4D trajectory in air navigation is an initial step in it. The aircraft industry is expecting a huge technological transformation due to NextGen systems.
The flight navigation system market when considered for a short period (five years) cannot be expected to grow fast. There will be a slow but steady growth for this short period of time. However, in the long run, the market is huge having ample opportunities. As mentioned earlier, the technological transformation taking place in the aircraft industry is the major reason behind this.
The market is highly dependent on the aircraft industry. The turns and turmoils in the aircraft industry will affect this market as well. The investments made by airlines to increase operational efficiency of aircraft can also be a driver for this market.