Cockpit controls segment is projected to witness the highest growth during the forecast period.
Based on component, the cockpit controls segment of the aircraft flight control system market is projected to witness the highest growth during the forecast period. This can be attributed to the increasing aircraft deliveries globally on account of increasing orders for new aircraft from commercial and domestic airliners. The demand for new aircraft from airliners is increasing due to the year on year increase in the global air passenger traffic.
Fly by wire technology segment is projected to witness the highest growth during the forecast period.
Based on technology, the fly by wire segment of the aircraft flight control system market is projected to witness the highest growth during the forecast period, as this is the most widely used flight control technology in the aviation industry. Fly by wire systems are reliable in adverse environmental condition with good signal transmission capability.
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Linefit end-user segment is expected to grow at a higher CAGR during the forecast period.
Based on end user, the linefit segment of the aircraft flight control system market is projected to grow at a higher CAGR during the forecast period. The increasing orders for commercial aircraft are expected to drive this segment.
Asia Pacific aircraft flight control system market is projected to witness the highest growth during the forecast period.
The Asia Pacific region is one of the fastest-growing market for aircraft flight control systems due to an increase in the number of flight hours and passenger traffic in the region. Countries such as India and China have seen a tremendous increase in the passenger traffic, owing to the growing economy and disposable income of consumers in these countries. This increase in passenger traffic and flight hours is expected to drive the demand for aircraft flight control systems in the Asia Pacific region during the forecast period.
Major players in the aircraft flight control system market include Parker Hannifin Corporation (US), Honeywell (US), and Moog (US).
The rise in per capita income across countries has made air travel more affordable. This has further contributed to the increase in air passenger traffic, globally. According to study by the IATA conducted in May 2015, the number of passengers is expected to be greater than seven billion by 2035, with a growth of 4.1% per annum. The commercial aviation market is expected to triple in demand over the next 20 to 30 Furthermore, there has been an increase in the profitability of airliners due increased fuel efficiency of aircraft operations. Aircraft operational efficiency is determined by factors such as aircraft design, navigation & flight paths, and weather conditions. Advancement in navigational technologies, along with efficient aircraft operations such as flight operations, technical operations, and ground operations have enhanced the efficiency of aircraft operations. These factors have led to increasing aircraft orders across the globe, which is expected to impact the global aircraft flight control system market in near future.
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