USD 13.4 billion
Report ID:
SQMIG45F2125 |
Region:
Global |
Published Date: February, 2024
Pages:
273
|Tables:
118
|Figures:
77
Aircraft Flight Control System Market size was valued at USD 13.4 billion in 2022 and is poised to grow from USD 14.5 billion in 2023 to USD 27.24 billion by 2031, growing at a CAGR of 8.2% in the forecast period (2024-2031).
An aircraft's flight control system helps the pilot steer the craft with precision. The system consists of linkages, cockpit and hydro-mechanical controls, and flight control surfaces. Currently, the majority of military and commercial aircraft have hydro-mechanical control systems installed, however, the newest aircraft have electronic flight control systems, sometimes referred to as fly-by-wire technology.
Demand for air travel has increased as people's disposable incomes in developing nations have increased. The increased demand for air travel has caused airlines to increase the number of their aircraft. Thus, it is projected that increasing aircraft orders will fuel market expansion. Additionally, the Aircraft Flight Control System Market is anticipated to rise as a result of the increasing need for UAVs in military activities.
The growing need to upgrade existing avionics systems such as aircraft monitoring systems, flight control, navigation, and communication systems, to make them more technologically advanced, is projected to boost the market of the aerospace avionics market. The leading organization that researches armaments, conflict, and disarmament, global defense spending will be $1981 billion in 2019. The increase in defense spending for the development and procurement of navigation systems, flight management systems, communication systems, and surveillance systems required for defense aviation is expected to contribute to the expansion of the global aircraft flight control system market.
However, the aerospace avionics system is prone to security breaches that can occur during the installation of the avionics software in the aircraft system. For instance, the aerospace avionics system can be breached by malware and unauthorized access that can breach the user’s confidential information. This is a major risk, especially in defense applications that can pose severe consequences. Such factors are anticipated to restrain the aircraft flight control system market in the upcoming years.
US Aircraft Flight Control System Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 13.4 billion
Largest Segment
Commercial Aviation
Fastest Growth
Commercial Aviation
Growth Rate
8.2% CAGR
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Global aircraft flight control system market has been segmented based on system, platform, mechanism, end-user, and region. Based on the system, the Aircraft Flight Control System Market is segmented into flight control systems, communication systems, navigation systems, monitoring systems, and others. Based on the platform, the Aircraft Flight Control System Market is segmented into commercial aviation, military aviation, and business jets & general aviation. Based on mechanism, the Aircraft Flight Control System Market is segmented into fly-by-wire system, hydro-mechanical system, mechanical system. Based on end user, the Aircraft Flight Control System Market is segmented into line-fit, retrofit. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Aircraft Flight Control System Market Analysis by Platform
The commercial aviation sub-segment accounted for the biggest revenue share in 2021 and is expected to reach $60 billion by 2028, up from $38,805.6 million in that year. The growth of the commercial aviation sub-segment is also anticipated to be aided by the rise in airborne cargo transportation. The International Air Transport Association (IATA), a trade group established in 1945, claims that the near-term picture for cargo is favorable due to the ongoing improvement in important demand indicators including new export orders. Cargo tonne-kilometers (CTKs) are anticipated to rise by 13.1% in comparison to 2021 and by 2.8% in comparison to 2019. Over the projection period, growth in this sub-segment is anticipated to be aided by these factors.
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North America has the largest market share in the aircraft flight control system market due to the existence of major companies, which is predicted to dominate the market as the aerospace industry's hub. With increase in passenger traffic in Asia Pacific, the market is predicted to experience the fastest growth in nations like China and India. Additionally, the growing purchase of military aircraft is furthermore anticipated to boost market expansion in the region. Europe dominated the global aircraft flight control system market during the forecast period as a result of rising UAV development costs. The Middle East and Africa region is anticipated to experience consistent growth. Emerging Latin American manufacturers are anticipated to increase the chances for economic growth in the flight control system market in the region.
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On a regional and international scale, there are numerous major players in the aircraft flight control system industry. For the aviation and aerospace industries, these players are creating new technology and goods. For instance, in July 2021, Collins Aerospace, the leading aerospace, and defense company based in the US launched its Perigon computer, which is available for a wide range of defense and commercial platforms such as flight management systems
Aircraft Flight Control System Market Top Player’s Company Profile
Aircraft Flight Control System Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, based on platform, commercial aviation dominated the global aircraft flight control system market in 2021 and is anticipated to maintain its dominance over the forecast period. In 2021, North America dominated the global market owing to the region's existence of major companies and the comparably larger demand for technologically advanced devices.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 13.4 billion |
Market size value in 2031 | USD 27.24 billion |
Growth Rate | 8.2% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Aircraft Flight Control System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aircraft Flight Control System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aircraft Flight Control System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aircraft Flight Control System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45F2125
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