NY, USA, September-23, 2019 /Aerospace --
Aircraft Flight Control System Market
The aircraft flight control system market was valued at USD 11.10 Billion in 2017 and is projected to reach USD 13.67 Billion by 2023, at a CAGR of 3.52% during the forecast period. The base year considered for the study is 2017 and the forecast period is 2018 to 2023.
The aircraft flight control system market is projected to grow from an estimated USD 11.50 Billion in 2018 to USD 13.67 Billion by 2023, at a CAGR of 3.52% during the forecast period. This growth can be attributed to the increasing aircraft orders as a result of the rise in air passenger traffic across the globe. The growth in passenger traffic is resulting in increased flight hours of aircraft, which is leading to an increase in aircraft demand. Upgradation of old AFCS systems is a key factor driving the demand for aircraft flight control systems from the Maintenance, Repair and Overhaul (MRO) companies.
Based on component, the aircraft flight control system market has been segmented into the different types of AFCS components used in different systems such as cockpit controls, primary flight control computer, secondary flight control computer, elevator actuators, trim hydraulic stabilizers actuators, aileron actuators, spoiler actuators, trim actuators, standby attitude and air data reference unit (SAARU), and others. These components help convert physical signal by pilot or electrical signals by autopilot into a proper form so that other aircraft systems can access it.
Based on platform, the aircraft flight control system market has been segmented into fixed wing and rotary wing. The fixed wing segment is expected to grow at a higher CAGR, owing to the increasing number of fixed wing aircraft fleet worldwide.
Based on type, the aircraft flight control system market has been segmented into commercial fixed wing flight controls system, military fixed flight control system, military UAV flight control system, and rotary wing flight control system. The military UAV flight control system segment is expected to be the fastest-growing segment.
The aircraft flight control systems market, by technology has been segmented into fly by wire, power by wire, hydromechanical systems, and digital fly by wire. The fly by wire segment is expected to grow at the highest CAGR during the forecast period. Fly by wire systems are currently the most used systems in almost all aircraft.
Based on end user, the aircraft flight control systems market has been segmented into linefit and retrofit. The linefit segment is expected to grow at a higher CAGR during the forecast period. According to the International Air Transport Association (IATA) report, Revenue Passenger Kilometers (RPKs) increased by 6.5% in 2015 as compared to 2014. This rise in air traffic has led to an increase in demand for aircraft flight control system in the commercial segment, majorly in the Asia Pacific region.
The geographical analysis of the aircraft flight control systems market includes regions such as North America, Europe, Asia Pacific, and Rest of the World (RoW). The North America region accounted for the largest share of the market in 2017. However, the Asia Pacific market is projected to grow at the highest CAGR during the forecast period due to the increase in passenger traffic and military aircraft in countries such as India, China, and Russia.
The existing backlogs of aircraft deliveries act as a restraint in the growth of the market. The limited manufacturing capacity of major aircraft manufacturing companies has resulted in a large backlog of aircraft deliveries.
Products offered by various companies in the market have been listed in the report. The recent developments section of the report includes recent and important developments by various companies between 2009 and 2017. Major companies profiled in the report include Parker Hannifin Corporation (US), Honeywell (US), and Moog (US), among others. Agreements and acquisitions accounted for a major share of the total growth strategies adopted by the leading players in the market. These strategies have enabled companies to strengthen their position in the market.
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