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| A Honeywell flight management system. Photo: Honeywell |
[Avionics Today 03-04-2015] A recently released market report regarding Flight Management Systems (FMS) finds that NextGen will bolster growth in the industry going forward. The Research and Markets report examines market trends for FMS cockpit architecture, hardware, maintenance and geography from 2014 through 2020. It notes that ongoing research to improve aircraft performance and fuel efficiency in line with Single European Sky ATM Resarch (SESAR) and initiatives in Europe and NextGen in the U.S. will drive huge technological transformations in FMS. This, in turn, will drive the future of the aircraft entirely.
For FMS in particular, slow but steady growth is expected in the next five years with a Compound Annual Growth Rate (CAGR) of 7 percent. The market is expected to reach $912.20 million by 2020, with Asia-Pacific holding the most potential for growth, followed by Europe.