Vantage Market Research
Nov 04, 2021
According
to analysts at Vantage Market Research, the electronic flight instrument system market is expected to reach USD 0.91 Billion by 2028, growing at a CAGR
of 5.48% from 2021 to 2028. Increasing demand of lightweight systems with
higher accuracy and more enhanced functionalities drive the market growth of
Electronic Flight Instrument System Market. Also, automation of flight
controls, situational awareness and improved safety with electronic flight
instrument system are the major factors expected to fuel the market growth of
the electronic flight instrument system market.
Key Findings
- The navigation segment of Electronic Flight Instrument System Market is projected to witness highest growth at a CAGR of 8.1% during this forecast period. The navigation information such as pitch, roll movements, bank and yaw is helpful for Pilots to drive the aircraft safely. This safe operation fuels the market growth of Electronic Flight Instrument System Market. Advanced systems such as Enhanced Vision System (EVS), Automatic Dependent Surveillance-Broadcast (ADS-B), and global positioning system (GPS) is estimated the market growth of the navigation segment.
- Flight management controls & systems segment of electronic flight instrument system market is forecasted the highest growth at a CAGR of 7.5% during upcoming years. It is a crucial subsystem of the electronic flight instrument system and it includes Electronic Flight Bag (EFB) and automated flight control. In addition, Flight management controls & systems provides new aircraft which in turns increased the market growth. This increase in automation industry in various flight tasks boost the demand of electronic flight instrument system market in the global market.
- North America is projected to grow the electronic flight instrument system market during the forecast period at a CAGR of 5%. Electronic Flight Instrument System Market in North America is run due to the presence of huge market players in the market and large number of Original Equipment Manufacturers (OEMs). This high growth can be incorporated due to the increasing demand technological up-gradation and lightweight systems on board aircraft in the region.
The major factors such as better accuracy and enhanced safety, situational awareness for electronic flight instrument system (EFIS) and increasing need for lightweight systems with lots of new functionalities are responsible for fueling the electronic flight instrument system market in the coming years. In addition, the high cost of technology used in EFIS and stringent industry regulations pertaining to EFIS are some of the restraints for the electronic flight instrument system market.
The U.S. is accounted to drive the electronic flight instrument system market growth in the region. The significant investments and innovative technologies introduced by the manufacturers in the country for the economic development drive the market growth in the region. In addition, increasing demand for easy-to-install and lightweight systems and significant investments in research and development activities for advanced electronic flight instrument system by industry players are some of the factors to propel the market growth of the electronic flight instrument system market.