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(MoneyNewsWire.Net, March 12, 2018 ) The aircraft flight control system market is projected to grow from USD 11.85 Billion in 2016 to USD 16.59 Billion by 2021, at a CAGR of 6.97% from 2016 to 2021. Increasing demand for new aircraft from regional airline companies in Asia-Pacific and the Middle East, procurement of fighter aircraft, and use of unmanned aerial systems in military programs are the key factors driving the demand for aircraft flight control systems. China, Canada, Brazil, and Japan are the key countries expected to witness significant growth in the aircraft flight control system market during the forecast period.
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Based on platform, the aircraft flight control system market has been segmented into fixed wing and rotary wing. The rotary wing segment of the aircraft flight control system market is projected to grow at the highest CAGR from 2016 to 2021. Growth of the rotary wing segment is attributed to the increasing demand for helicopters in the military sector. Demand for helicopters can be attributed to the increasing application of helicopters for transport, emergency medical services, and special missions.
Based on application, the commercial aviation segment is expected to account for the largest share of the aircraft flight control system market during the forecast period. The commercial aviation segment has been classified into narrow body aircraft, wide body aircraft, very large aircraft, and regional transport aircraft. Increasing air passenger traffic is fueling the demand for new aircraft, thereby driving the growth of the aircraft flight control system market in the commercial aviation segment.
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North America is projected to lead the aircraft flight control system market from 2016 to 2021, owing to technological advancements taking place in aircraft flight control systems and presence of key aircraft manufacturers, such as The Boeing Company (U.S.) and Bombardier Inc. (Canada) in this region. Growing military modernization programs that include increased procurement of advanced fighter jets and unmanned air vehicles is another significant factor driving the growth of the North America aircraft flight control system market.
Existing aircraft production backlog is expected to restrain the growth of the aircraft flight control system market. The aircraft flight control system market is a diversified and competitive market with a large number of players. Key players operating in this market include Honeywell International, Inc. (U.S.) Safran S.A. (France), Liebherr Group (Switzerland), United Technologies Corporation (U.S.), Moog Incorporation (U.S.), and BAE Systems plc. (U.S.), among others. Honeywell International, Inc. (U.S.) is expected to lead the aircraft flight control system market from 2016 to 2021. The company has a strong product portfolio, and focuses on expansions and contracts to increase its product offerings and enhance its market share. In August 2016, the company announced its plans to set up a manufacturing unit of flight control systems in Malaysia to expand its business in the Middle East and Asia-Pacific regions.
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