The Flight Navigation System Market is segmented by Flight Instrument (Altimeter, Gyroscope, Autopilot, Sensors, Magnetic Compass), Product (Flight Control System, Flight Management System, Navigation System, Surveillance, Communication System), Application (Fixed-Wing, Rotary-Wing), and Region (North America, Europe, Asia-Pacific, and Rest of the World).

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)

Market Dynamics

The growth of the flight navigation system market is primarily driven by increasing product use in aircraft to assist in secure landing. 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 impacted the growth of the flight navigation system market negatively. 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

Product Trends

The flight navigation system market has been bifurcated into flight control systems, flight management systems, navigation systems, surveillance, and communication system. 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 Analysis

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 established aviation industry in 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.

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 sales@stratviewresearch.com.