Aircraft Flight Control System Market Worth 13.67 Billion USD by 2023
08 Jun, 2018, 17:30 BST
PUNE, India, June 8, 2018 /PRNewswire/ --
According to the new market research report on the "Aircraft Flight Control System Market by Component (Cockpit Controls, Primary FCC, Secondary FCC, Actuators, Standby Attitude and Air Data Reference Unit), Type, Technology, End User (Linefit, Retrofit), Platform, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is estimated at USD 11.50 Billion in 2018 and is projected to reach USD 13.67 Billion by 2023, at a CAGR of 3.52% during the forecast period. Factors such as the increase in passenger traffic, rise in aircraft deliveries, and upgradation of old aircraft are expected to drive the aircraft flight control system market.
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Browse 103 market data Tables and 50 Figures spread through 153 Pages and in-depth TOC on "Aircraft Flight Control System Market"
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Cockpit controls segment is projected to witness the highest growth during the forecast period.
Based on component, the cockpit controls segment of the aircraft flight control system market is projected to witness the highest growth during the forecast period. This can be attributed to the increasing aircraft deliveries globally on account of increasing orders for new aircraft from commercial and domestic airliners. The demand for new aircraft from airliners is increasing due to the year on year increase in the global air passenger traffic.
Fly by wire technology segment is projected to witness the highest growth during the forecast period.
Based on technology, the fly by wire segment of the aircraft flight control system market is projected to witness the highest growth during the forecast period, as this is the most widely used flight control technology in the aviation industry. Fly by wire systems are reliable in adverse environmental condition with good signal transmission capability.
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Linefit end-user segment is expected to grow at a higher CAGR during the forecast period.
Based on end user, the linefit segment of the aircraft flight control system market is projected to grow at a higher CAGR during the forecast period. The increasing orders for commercial aircraft are expected to drive this segment.
Asia Pacific aircraft flight control system market is projected to witness the highest growth during the forecast period.
The Asia Pacific region is one of the fastest-growing market for aircraft flight control systems due to an increase in the number of flight hours and passenger traffic in the region. Countries such as India and China have seen a tremendous increase in the passenger traffic, owing to the growing economy and disposable income of consumers in these countries. This increase in passenger traffic and flight hours is expected to drive the demand for aircraft flight control systems in the Asia Pacific region during the forecast period.
Major players in the aircraft flight control system market include Parker Hannifin Corporation (US), Honeywell (US), and Moog (US).
Know more about the Aircraft Flight Control System Market:
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