MFD: Key market research findings
- The Americas to dominate the market geographically
- Commercial aerospace segment to account for a majority of the market’s revenue
- Key vendors – Avidyne, BAE Systems, Honeywell, Rockwell Collins, and Universal Avionics Systems
Technavio’s market research analysts predict the global market for MFD systems to grow at a CAGR of more than 9% between 2016 and 2020. The growth of this market can be accredited to the growing demand for automation. Automation enhances flight operational safety and efficiency and aims to cut down operating costs for greater profits. The integration of advanced multi-function display (MFD) systems and technologies, like the autopilot system and flight management system (FMS), in the cockpits, reduces the workload of the pilot and assures the availability of critical flight information. Currently, the market is dominated by the Americas, which accounts for a revenue of more than $4 million. Ongoing mergers among commercial airlines in the US is expected to fuel the demand for MFD systems, leading to the growth of the MFD system market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the MFD segments based on the application.
“The development of the autopilot landing system has a positive influence on the growth of the MFD system market across the globe. The autopilot landing system assists in the safe landing of an aircraft during turbulent weather conditions and blurry vision. With the use of the computer in a landing system, an autopilot system can effectively monitor and measure, altitude, airspeed, and distance to ensure safe landing of the aircraft. The growing global aircraft fleet is also expected to fuel the demand for MFD systems over the next four years,” says Abhay Kumar Singh, Lead Analyst, Aerospace & Defense, Technavio Research.
During 2015, the commercial aerospace segment dominated the global MFD system by accounting for about 57% of the overall market revenue. The growing number of passenger aircraft is triggering an increase in the need for enhanced ground proximity warning systems and improved systems that provide altitude, pitch, yaw, roll, attitude, mapping, and weather information. Some systems also display flight navigation route and function as traffic alert and collision avoidance system (TCAS), next-generation radar (NEXRAD), weather radar, ground proximity warning system (GPWS), terrain avoidance and warning system (TAWS), and aircraft information on the same screen.
The key vendors in the global MFD system market include Avidyne, BAE Systems, Honeywell, Rockwell Collins, and Universal Avionics Systems. The global MFD market is highly competitive as most vendors compete for market shares on the basis of product quality, cost, reliability, and aftermarket services. In this market, suppliers have to provide cost-effective and high-quality systems equipped with the latest materials and technology to survive and thrive in this intensely competitive market. Government organizations like the DOD, FAA, Civil Aviation Safety Authority and the EU certify systems offered by every vendor. The use of such systems is highly encouraged as it enhances safety and aircraft operation.
A more detailed analysis is available in the Technavio report, Global MFD System Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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