Electronic Flight Instrument System Market to Soar at 5.60% CAGR During 2016-2021
Jan 19, 2017
The electronic flight instrument system market is projected to grow from USD 867.9 million in 2016 to USD 1,139.6 million by 2021, at a CAGR of 5.60% during the forecast period while the navigation segment is estimated to be the largest segment.
Pune, India - January 19, 2017 /MarketersMedia/ —
Increasing need for lightweight systems with more functionalities and better accuracy and enhanced safety and situational awareness with the use of electronic flight instrument system (EFIS) are major factors expected to drive the market in the coming years. However, stringent industry regulations pertaining to EFIS and the high cost of technology used in EFIS may act as some of the major restraints for the electronic flight instrument system market.
Complete report on electronic flight instrument system market spread across 166 pages, profiling 11 companies and supported with 75 tables and 55 figures is now available at http://www.reportsnreports.com/reports/817817-electronic-flight-instrument-system-efis-market-by-application-flight-engine-monitoring-navigation-sub-system-display-communication-navigation-flight-management-fit-ads-b-evs-platform-fixed-rotar-st-to-2021.html .
The manufactured components need approval from various authorities, such as the U.S. Federal Aviation Administration (FAA), before they are installed on board an aircraft. Furthermore, it is difficult to obtain approval for the replacement of conventional systems on-board the aircraft.
Based on application, the navigation segment is estimated to be the largest segment of the electronic flight instrument system market, as navigation information is the most basic information needed to fly an aircraft as well as during landing and take-off operations.
Based on subsystem, the communication & navigation systems segment is estimated to be the largest segment of the electronic flight instrument system market in 2016.This can be attributed to the mandate for communication & navigation systems namely, Enhanced Vision System (EVS) and Automatic Dependent Surveillance-Broadcast (ADS-B) on board an aircraft.
Key players operating in the electronic flight instrument system market are Honeywell International Inc. (U.S.), Rockwell Collins, Inc. (U.S.), Esterline Technologies Corporation (U.S.), Astronics Corporation (U.S.), L-3 Communications Holding Inc. (U.S.), Dynon Avionics (U.S.), Genesys Aerosystems (U.S.), Aspen Avionics (U.S.), Avidyne Corporation (U.S.), and Garmin Ltd. (Switzerland), among others.
Request a discount on a copy of Electronic Flight Instrument System (EFIS) Market by Application (Flight, Engine Monitoring, Navigation), Sub-system (Display, Communication & Navigation, Flight Management), Fit (ADS-B, EVS), Platform (Fixed, Rotary) and Region - Global Forecast to 2021 research report at http://www.reportsnreports.com/contacts/discount.aspx?name=817817 .
North America is estimated to lead the electronic flight instrument system in 2016. Countries in this region include the U.S. and Canada. Significant investments in research and development on advanced electronic flight instrument system by domestic players and increasing demand for lightweight and easy-to-install systems are some of the factors expected to boost the growth of the electronic flight instrument system market in this region. The U.S. is expected to drive the growth of the North America electronic flight instrument system market, owing to the access to innovative technologies and the significant investments made by manufacturers in the country for the development of improved electronic systems.
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