The global aircraft flight control system market was valued at approximately USD 10.4 billion in 2019. From 2019 to 2023, demand for these systems grew at an annual rate of 11.2%, reaching a total market value of USD 15.8 billion by the end of 2023.
In 2024, the aircraft flight control system market is expected to be valued at around USD 17.5 billion. Over the next ten years, sales are projected to grow at a rate of 8.7%, with the total market valuation forecasted to reach up to USD 40.2 billion by the end of this period.
The increasing popularity of air travel worldwide is a key driver for the growth and development of aircraft flight control systems. Additionally, enhanced safety protocols in the aviation sector across various countries are likely to further propel market expansion in the future.
Key Takeaways from the Aircraft Flight Control System Market Study Report
- The United States is likely to retain its dominance in the global market by following a CAGR of 9% through the projected years.
- The adoption of aircraft flight control systems in the United Kingdom is expected to increase at a rate of 10% per year till 2034.
- China is the leading manufacturer of aircraft flight control systems in Asia and is anticipated to progress further at a rate of 9.3% between 2024 and 2034.
- Japan is another notable market for aircraft flight control systems in Asia that is likely to progress with an estimated CAGR of 10.2% from 2024 to 2034.
- South Korea is expected to witness a lucrative growth rate of 11% during the forecast years.
Competitive Landscape for the Aircraft Flight Control System Market Participants
The overall market is highly concentrated as manufacturers are providing more than half of the global demand for aircraft flight control systems. However, substantial government support and investment in developing economies trying to strengthen their military aviation sector is likely to diversify the market in the coming days.
In May 2022, Honeywell International decided to use the NASDAQ Flight Management System (FMS) to handle air traffic control requirements for upcoming Airbus A320, A330, and A350 aircraft. This new Flight Management System (FMS) integrates real-time data communication with the outside world, including an Electronic Flight Bag (EFB), to reduce pilot effort and enhance fuel efficiency. Airline operators are expected to gain maximum operating efficiency, dependability, and safety with this new flight management system.
In April 2023, BAE Systems and Microsoft Inc. entered a strategic partnership to accelerate and simplify digital military technology development, deployment, and management. Through this relationship, Microsoft’s approach to application development using the Azure Cloud platform is combined with BAE Systems’ expertise in creating intricate digital systems for the military and government.
Aircraft Flight Control System Industry Segmentation:
By Aircraft Type:
- Wide Body Aircraft
- Narrow Body Aircraft
- Regional Jets
By Application:
- Business Aviation
- Commercial Aviation
- Military Aviation
- Other Applications
By Technology:
- Fly-by-wire FCS
- Mechanical FCS
- Hydro-mechanical FCS
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and the Pacific
- The Middle East and Africa (MEA)
Report Preview: https://www.futuremarketinsights.com/reports/aircraft-flight-control-system-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
