Technavio has been monitoring the aircraft fly-by-wire system market and the market share is expected to grow by USD 2.64 million during the forecast period. The report estimates the market to witness an accelerating growth momentum at a CAGR of 8.42% from 2020 to 2025. The growing development of multirole fighter aircraft will drive the sales of aircraft fly-by-wire system market. However, the probability of technical glitches will emerge as a major restraint for the aircraft fly-by-wire system market. Download PDF Sample Report to unlock detailed aircraft fly-by-wire system market analysis and other market growth contributing factors.
Aircraft Fly-by-wire System Market: Emerging Trends to Impact Market Growth
Factors such as the development of more electric aircraft, the development of FCS with non-linear and adaptive controls, and the emergence of power-by-wireless technology are likely to emerge as market trends that influence the growth of the industrial aircraft fly-by-wire system market. The aircraft fly-by-wire system market trend analysis report will enable clients to assess their play in the market and plan for growth opportunities.
Aircraft Fly-by-wire System Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
BAE Systems Plc, Honeywell International Inc., Liebherr-International AG, Lockheed Martin Corp., Moog Inc., Nabtesco Corp., Parker Hannifin Corp., Raytheon Technologies Corp., Safran SA, and Thales Group are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Aircraft Fly-by-wire System Market: Segment Analysis
The aircraft fly-by-wire system market is segmented by application (Commercial aviation, Military aviation, and Business aviation) and Geography (North America, Europe, APAC, MEA, and South America).
The commercial aviation segment captured the largest aircraft fly-by-wire system market share in 2020. The segment will continue to account for the highest revenue throughout the forecast period. The growth of this segment is attributed to the increasing need for connectivity between geographic locations in both developing and developed regions. 33% of the market’s growth will originate from North America during the forecast period. The US is the key market for aircraft fly-by-wire systems market in the North American region. The technological advances taking place in the aircraft FCS will propel the aircraft fly-by-wire system market growth.
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