Global flight data monitoring market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 7.5% during the forecast period.
Global Flight Data Monitoring Market
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Market Definition
A flight data monitoring is a system or model which is used to assist safety operator to assess and address, to quantify and identify various operational risks and everyday flight operations. In flight data monitoring system flight data analysis software, data storage and acquisition hardware are used to monitor the movement of an aircraft during flight.
Market Dynamics
A surge in the adoption of flight data monitoring system owing to its variety of benefits such as improved operational efficiency and flight safety, enhanced fuel consumption, improved operational insight, prevention of accidents and incidents, reduced unnecessary repairs and maintenance costs and reduced dependence in flight data recorders is major driving factor behind the growth of the market. Increasing demand for real-time situational awareness system, raise in aircraft deliveries, growing adoption of various security analytics techniques in aviation industry, growing domestic and international travel activities across the globe and rising adoption of wireless sensors for flight data monitoring are expected to witness fast growth during the forecast period.
However, lack of technical skilled personnel’s, environmental parameters and ageing aircraft are major restraining factors that could hamper the growth of the market.
Global Flight Data Monitoring Market: Segmentation Analysis
By solution type, on board segment dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. Growing adoption of new aircraft in military and commercial sectors for a number of applications such as exploration and rescue operations is attributed to the growth of the market.
Global flight data monitoring market revenue share-2019, by solution type (in %):
Global flight data monitoring market 1
By component, FDM service and software segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. Increasing demand for enhanced operational efficiency and rising aircraft deliveries of airlines are major driving factors behind the growth of the market. Flight data monitoring system provides services such as automatic and fast exceedance and readout detection process, interactive and comprehensive flight reports and traces and precise safety trends and statistics with timely safety reports, which are ultimately propelling the growth of the market.
Global Flight Data Monitoring Market: Regional Analysis
Region-wise, North America dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The US and Canada are the major contributors behind the growth of the market in the region. The growth is attributed to the massive presence of flight data monitoring system manufacturers, service providers, and software developers across the countries like the US and Canada.
Increasing implementation of safety management systems by safety operators of commercial helicopters and air transport aircraft, rising adoption of flight data analysis software systems, increasing need of routine analysis of flight data recorded during revenue flights and growing passenger safety concerns are driving the growth of the market in the region.
The objective of the report is to present a comprehensive analysis of the Global Flight Data Monitoring Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Flight Data Monitoring Market dynamics, structure by analyzing the market segments and projects the Global Flight Data Monitoring Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Flight Data Monitoring Market make the report investor’s guide.
The Scope of Global Flight Data Monitoring Market
Global Flight Data Monitoring Market, By Component
• FDM Service
• FDM Software
• FDM System
Global Flight Data Monitoring Market, By Solution Type
• On Board
• On Ground
Global Flight Data Monitoring Market, By End User
• Fleet Operators
• Drone operators
• FDM Service Providers
• Investigation Agencies
Global Flight Data Monitoring Market, By Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Global Flight Data Monitoring Market, Key Players
Global Players
• Curtiss-Wright Corporation
• Teledyne Controls LLC
• Safran
• Guardian Mobility
• FLYHT Aerospace Solutions Ltd
• SKYTRAC SYSTEMS LTD
• Scaled Analytics, Inc
• Flight Data Services Ltd
• Flight Data People
• Metro Aviation
• French Flight Safety
• Aerosight
• XX
• XX
North America
• AeroVision International
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