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.
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.
“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
- 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.
Competitive Landscape
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.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
