Report Forecasts Flight Management Systems Will 'Determine The Future' Of Aviation
According to a new market research report, the total FMS Market is expected to reach $1.8 billion by 2018 with a Compound Annual Growth Rate (CAGR) of 3%.
The "Commercial Aviation Flight Management Systems Market (Flight Management Computer, Flight Management Control Unit, Flight Management Visual Display), 2013-2018", published by MarketsandMarkets, forecasts that NextGen FMS is "going to determine the future of aviation." Research is going on to improve the aircraft performance there by making aircraft more fuel efficient. Single European Sky ATM Research (SESAR) in Europe is mainly focused at improving the air navigation systems to the next level of technology. Typically 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 FMS Market; when considered for a short period, say five years; cannot be expected to grow huge. There will be a slow but steady growth for this short period of time. But in the long run the market is huge having ample opportunities.
Most of the major players in the market are concentrated in North America and Europe. They cater to the Global Markets. There are eight major players in the world who serves the need of the Global Market.
The FMS Market is expected to grow at a CAGR of 3% during the period 2013-2018. The Market is expected to reach $1.8 billion by 2018. U.S. and Europe will be the fastest growing regions and the most potential markets by 2018.
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