The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Electronic Flight Instrument System Market.
It was estimated prior to this unanticipated outbreak that the Electronic Flight Instrument System Market was likely to witness an impressive CAGR of 7.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate. 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.
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Electronic Flight Instrument System Market Segment Insights:
By Application Type:
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.
By Sub-System Type:
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.
By Region:
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.
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This report offers high-quality insights and is the outcome of 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.
Based on the research, a proper report is crafted with the following key features:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment.
• 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, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
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