ID: MRFR/A&D/8680-CR | February 2021 | Region: Global | 153 pages
Global Flight Data Monitoring Market is expected to register a 5.11% CAGR during the forecast period.
Flight Data Monitoring (FDM) refers to the analysis of flight data to find out trends in order to understand and solve complex flight operational issues. It is an important part of safety assurance. FDM service providers offer various solutions such as FDM replay service, support of FDM systems, operations of FDM systems, FDM consultancy, and training.
Global Flight Data Monitoring Market is growing rapidly due to the influx in air passenger traffic and a subsequent increase in the number of aircraft and the focus on ensuring flight safety and constant monitoring of aircraft. Furthermore, the growing adoption of Automatic Dependent Surveillance-Broadcast (ADS-B) is also supplementing the market growth. However, the issues regarding the accuracy of information received and the assurance of quality by FDM are expected to restrain the market's growth during the forecast period.
This increase in the number of aircraft and air passenger traffic is projected to boost the demand for flight data monitoring by commercial aviation and defense agencies. In order to provide better aircraft monitoring and retrieval of flight data, airlines have equipped their fleets with advanced flight monitoring systems. Moreover, flight data monitoring helps take necessary actions by analyzing recorded data on flight performance, problems, and operations.
Global Flight Data Monitoring Market Growth, 2019–2027
North America accounted for a 32.10% share of the flight data monitoring market in 2019, followed by Asia-Pacific. Europe accounted for the third-largest market share in 2019. Asia-Pacific is projected to be the fastest-growing market for flight data monitoring during the review period.
Global Flight Data Monitoring Market has been segmented based on Solution, End User, Component, and Region. By solution, the global flight data monitoring market is segmented into on board and on ground. By end user, the global flight data monitoring market is classified into fleet operators, drone operators, FDM service providers, and investigation agencies. Based on component, the global flight data monitoring market is segmented into FDM service, FDM software, and FDM system. By region, the flight data monitoring market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
Global Flight Data Monitoring Market Segmentation
The On-Ground Segment is Expected to Grow at the Higher CAGR During the Forecast Period: MRFR
The increasing use of ground-based flight data monitoring analysis is driving the on-ground segment. Airlines are focused on enhancing operational efficiency and using FDM to improve on-ground monitoring, which, in turn, is contributing to this segment's market growth. Additionally, airlines use the data captured from FDM analysis to support changes in air traffic control and airport procedures. The non-critical data (e.g., take-off reports and stable cruise reports) sent via ACARS (Aircraft Communications, Addressing and Reporting System) messages are acquired, recorded, and transmitted via flight data monitoring equipment. Such data are analyzed on-ground before operating the flight. Therefore, the on-ground segment is anticipated to register a CAGR of 5.87% over the forecast duration.
Flight Data Monitoring Market has been segmented, by region, into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
Global Flight Data Monitoring Market Share, By Region, 2019 (%)
North America accounted for the largest market share in 2019. It is expected to be the largest market for flight data monitoring during the forecast period. Asia-Pacific is expected to be the fastest-growing market for flight data monitoring during the review period due to the growing aviation sector in India, China, and Japan. As per Airbus SAS, over 16,000 aircraft are expected to be delivered in Asia-Pacific by 2035. Therefore, the flight data monitoring market in Asia-Pacific is expected to register a CAGR of 6.25% during the forecast period.
The Key Players in the Global Flight Data Monitoring Market are Hi-Fly Marketing (South Africa), Metro Aviation (US), French Flight Safety (France), FlightSafety International (US), Helinalysis (UK), Aerobytes Ltd. (UK), NeST Aerospace Pvt. Ltd. (India), Aerosight (Bulgaria), ERGOSS LOGICIELS (France), and AeroVision International (US).
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
Global flight data monitoring market is expected to record a substantial market valuation of USD 7.06 billion by 2026.
Global flight data monitoring market is projected to register a moderate 7.21% CAGR in the forecast period.
The onboard segment is expected to observe substantial demand over the review period.
The fleet operators segment is slated to expand as the fastest-growing segment.
A few eminent market players functioning in the global flight data monitoring market are Teledyne Controls LLC (US), Safran (France), Guardian Mobility (Canada), among others.