NEWARK, Del, Feb. 01, 2024 (GLOBE NEWSWIRE) -- The global aircraft flight control system market value in 2019 was US$ 10.4 billion. In the following five years (2019 to 2023), the demand for aircraft flight control systems increased at an annual growth rate of 11.2%. By 2023 end, the total value of the market was US$ 15.8 billion.
In 2024, the worth of the aircraft flight control system industry is estimated to be around US$ 17.5 billion. Over the next ten years, the sales of aircraft flight control systems are projected to rise at an 8.7% rate. The total valuation of the market is forecast to reach up to US$ 40.2 billion by the end of this forecast period.
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The growing popularity of air travel in all countries remains the key factor for the growth and development of aircraft or aerospace flight control systems. Improved safety protocols for the aviation sector in numerous countries are likely to drive the market further in the coming days.
“Modernization of military aviation with higher investment in China and the United States has played a crucial role in the advancement of flight control technology. Advancement in connectivity and data Integration solutions have also improved aircraft capabilities through flight control systems that easily interface with data networks and communication platforms” – says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
Key Takeaways from the Aircraft Flight Control System Market Study Report
- The United States is likely to retain its dominance in the global market by following a CAGR of 9% through the projected years.
- The adoption of aircraft flight control systems in the United Kingdom is expected to increase at a rate of 10% per year till 2034.
- China is the leading manufacturer of aircraft flight control systems in Asia and is anticipated to progress further at a rate of 9.3% between 2024 and 2034.
- Japan is another notable market for aircraft flight control systems in Asia that is likely to progress with an estimated CAGR of 10.2% from 2024 to 2034.
- South Korea is expected to witness a lucrative growth rate of 11% during the forecast years.
Aircraft Flight Control System Market Report Scope:
| Attribute | Details | |
| Estimated Market Size (2024) | US$ 17.5 billion | |
| Projected Market Size (2034) | US$ 40.2 billion | |
| Anticipated Growth Rate (2024 to 2034) | 8.7% | |
| Forecast Period | 2024 to 2034 | |
| Historical Data Available for | 2019 to 2023 | |
| Market Analysis | US$ million or billion for Value and Units for Volume | |
| Key Regions Covered | North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia and Oceania | |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa | |
| Key Segments Covered | By Aircraft Type, By Application, By Technology, and By Region | |
| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives | |
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Competitive Landscape for the Aircraft Flight Control System Market Participants
The overall market is highly concentrated as manufacturers are providing more than half of the global demand for aircraft flight control systems. However, substantial government support and investment in developing economies trying to strengthen their military aviation sector is likely to diversify the market in the coming days.
In May 2022, Honeywell International decided to use the NASDAQ Flight Management System (FMS) to handle air traffic control requirements for upcoming Airbus A320, A330, and A350 aircraft. This new Flight Management System (FMS) integrates real-time data communication with the outside world, including an Electronic Flight Bag (EFB), to reduce pilot effort and enhance fuel efficiency. Airline operators are expected to gain maximum operating efficiency, dependability, and safety with this new flight management system.
In April 2023, BAE Systems and Microsoft Inc. entered a strategic partnership to accelerate and simplify digital military technology development, deployment, and management. Through this relationship, Microsoft's approach to application development using the Azure Cloud platform is combined with BAE Systems' expertise in creating intricate digital systems for the military and government.
Aircraft Flight Control System Industry Segmentation:
By Aircraft Type:
- Wide Body Aircraft
- Narrow Body Aircraft
- Regional Jets
By Application:
- Business Aviation
- Commercial Aviation
- Military Aviation
- Other Applications
By Technology:
- Fly-by-wire FCS
- Mechanical FCS
- Hydro-mechanical FCS
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and the Pacific
- The Middle East and Africa (MEA)
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Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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