Flight Navigation System (FNS) Market to register high demand rate by 2024
Sarasota, FL -- (SBWIRE) -- 03/02/2017 -- Global Flight Navigation System (FNS) Market: Overview
The system which assists the navigation and operation of the aircraft system and assimilates all the main function of the aircraft all the way from the engine start, take off, to landing and engine shut-down. Apart from this, development of new NextGen system of flight navigation is projected to resolve the prospect of aircraft. Growing acquisitions, joint ventures, and mergers is creating various opportunities for the new players in the market.
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Global Flight Navigation System (FNS) Market: Segmentation
Flight navigation system plays the vital role in managing and controlling the flight operations. The global flight navigation system (FNS) is broadly segmented based on the products this includes, flight control system, flight management system, Navigation system, surveillance, and communication system. Further based on the application it is diversified as fixed-wing, narrow body aircraft, wide-body aircraft, very large aircraft, regional aircraft, and rotary-wing. Moreover, on the basis of flight Instrument the global market is bifurcated as autopilot, altimeter, magnetic compass, gyroscope, and various sensors.
Global Flight Navigation System (FNS) Market: Growth Factors
Key motivating factors for the global flight navigation system market (FNS) include increasing orders for aircrafts around the globe and augmenting air traffic. Growing demand for precise navigation and advancement in technologies are also anticipated to generate business prospect for the key players in this market. However, Upgraded fuel efficiency is estimated to present huge business opportunities for existing as well as upcoming potential players in market. Rising incidences of plane crashes have forced the manufacturers to upgrade the navigation system, due to which large demand of these products is generated thus, driving the growth of the global market. Manufacturing cost and intricacy of the systems and shuffling accuracy are some of the factors that may hamper the growth of the global flight navigation system market (FNS). Constant development in GPS technology and constantly changing GPS compatibility is also a considerable challenge for the growth of the global market.
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Global Flight Navigation System (FNS) Market: Regional Analysis
The global flight navigation system (FNS) market is broadly diversified in many regions which include North America, Europe, Asia-Pacific, Middle East, Africa and Rest of the World. In which, America is expected to lead the global market due to existence of many major players in this regions.
Global Flight Navigation System (FNS) Market: Competitive Players
Some of the global players contributing their efforts through their products, services, and for the development of the global flight navigation system (FNS) market include Universal Avionics Systems Corporation, The Boeing Company, Northrop Grumman Corporation, Honeywell International Inc, MOOG, Inc, Esterline Technologies Corporation, Garmin Ltd, Rockwell Collins, Inc Sagem, and Raytheon Company.
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