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Aircraft Flight Control System Market Projected to Grow $11.50 Billion in 2018
June 18, 2018 | PRNewswireEstimated reading time: 2 minutes
Increasing aircraft orders is one of the key factors driving the aircraft flight control system market.
The aircraft flight control system market is projected to grow from an estimated $11.50 billion in 2018 to $13.67 billion by 2023, at a CAGR of 3.52% during the forecast period. The aircraft flight control system market is mainly driven by the increase in aircraft orders. However, existing backlogs of aircraft deliveries are restraining the growth of the aircraft flight control system market.
Primary flight control computer segment is projected to lead the aircraft flight control system market during the forecast period.
Based on component, the primary flight control computer segment is projected to lead the aircraft flight control system market during the forecast period, owing to the growth of commercial aircraft orders and the increasing MRO services in regions such as Asia Pacific.
Based on technology, the fly by wire segment is projected to lead the aircraft flight control system market during the forecast period.
Based on technology, the fly by wire segment is projected to lead the aircraft flight control system market during the forecast period.Fly- by wire systems are reliable in adverse environmental condition with good signal transmission capability.
Owing to this, fly by wire is the most widely used flight control technology in the aviation industry.
Based on platform, the fixed wing segment is projected to lead the aircraft flight control system market during the forecast period.
Based on platform, the fixed wing segment is projected to lead the aircraft flight control system market during the forecast period. The aircraft flight control system market is mainly driven by the increase in orders of new fixed wing aircraft and increasing upgradation activities for older fixed wing aircraft.
Based on end user, linefit segment is projected to lead the aircraft flight control system market during the forecast period.
Based on end user, the linefit segment is projected to lead the aircraft flight control system market during the forecast period.The linefit aircraft flight control system market is mainly driven by the increase in new aircraft orders on account of increasing demand from commercial airliners due to increasing air passenger traffic.
The retrofit segment is driven by the increasing upgradations of older aircraft.
Asia Pacific aircraft flight control system market is expected to grow at the highest CAGR during the forecast period.
The Asia Pacific aircraft flight control system market is projected to grow at the highest CAGR during the forecast period.The aircraft flight control system market in Asia Pacific has been studied for China, India, and Japan, among others.
The aviation industry in the Asia Pacific region has witnessed considerable growth in the past few years, owing to an increase in passenger traffic, presence of attractive tourist destinations, and upgrades of existing aircraft.The demand for aircraft is leading to an increase in the demand for aircraft flight control system, and major manufacturers, such as Parker Hannifin (US), are focusing on increasing their market share.
Thus, the Asia Pacific region is projected to be the fastest-growing aircraft flight control system market.
Break-up of profile of primary participants in the aircraft flight control system market:
- By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
- By Designation: C level – 35%, Director level – 25%, Others – 40%
- By Region: North America - 45%, Europe – 20%, Asia Pacific – 30%, RoW – 5%
Major players in the aircraft flight control system market include Parker Hannifin Corporation (US), Honeywell (US) and Moog (US).
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