Flight Data Monitoring Market
Flight Data Monitoring Market Size Valued at USD 2.9 Billion and CAGR of 9.2% during the forecast period of 2020-2030
There has been an increasing need for situational awareness regarding reducing the unscheduled maintenance and further, the trends support the increasing asset utilization methods that are cost-effective. Also, there is a rise in a constant need for maintenance in aircraft deliveries that support the global and predicted growth for the market from 2021 to 2030.
COVID Analysis
The Flight Data Monitoring Market Share has been one of the most affected markets since the outbreak of the global coronavirus pandemic during the year-end of 2019 followed by the spread in international locations in 2020. Both the domestic and the international market that is promoting the travel and tourism industry are facing serious functional issues that are likely to hamper the ability of the market to overcome the challenges that have been propelling since the outbreak of the pandemic. The market investors are on the lookout for dynamics that will be helpful for the market to cover the losses that have been incurred during the forecast period that will be ending in 2030. The flight data monitoring market share is shrinking and hence, there is a major issue of funds, technology, and investments that help to meet the developing needs of the market and further, the demand for the target audience that is spread in various global locations.
Hence, the global market players and investors are enhancing their investment portfolios that will help to expand the global market products followed by the reduction in restrictions that will help the market and give the market proper space to dwell based on the predictions for the forecast period of 2021-2030.
Competitive Landscape
The Flight Data Monitoring Market Players is expected to rise in the global market during the ongoing forecast period of 2021-2030, owing to the growing demand and excellent preparation and planning of the aircraft by the companies for a series of the global target audience. The investments and funding by the companies in the global market premises are helping in the global expansion of the market. The global market has been witnessing the emergence of the following key market players followed by the recent developments undertaken by them during the period.
- L3Harris Technology Inc
- FLYHT Aerospace Solutions Ltd.
- Safran SA
- Curtiss-Wright Corporation
- Teledyne Technologies Incorporated
Market Dynamics
Drivers
The procurement of new commercial aircraft has been fueled by the expansion plans that are underway for the airlines, as well as orders and deliveries of the requirement of military aircraft during the forecast period that will be ending in 2030. This is anticipated to generate a huge degree of demand for new flight data monitoring systems in the upcoming years, as a part of the forecast period of 2021-2030.
Restraints
But the global flight data monitoring market share has been witnessing the emergence of factors like the constant assurance of the quality of accuracy and information that has been received by the flight data monitoring aging aircraft during the global market premises during the forecast period that will be ending in 2030.
Technology Analysis
The global demand for efficient operations as a part of the Flight Data Monitoring Market Trends and further, the rising need to reduce the unscheduled maintenance costs for the airlines will be generating the global demand for flight data monitoring services during the forecast period that will be ending in 2030.
Study Objectives
- The flight data monitoring market report has been prepared for the market investors and buyers that are finding opportunities to become a part of the global market functioning during the forecast period of 2021-2030. The report has been prepared to understand the market growth rate and other projections and further, discuss the opportunities for growth and expansion along with the challenges for the market on the way.
- The report discusses the factors on which the market can play and dwell upon during the period ending in 2030. Also, the report helps in understanding the basis on which the global market has been segmented and further, understanding their rising ability to meet the needs of the audience. The market segments are also helpful in meeting the needs and enhancing the revenue scale that has been predicted for the market in the upcoming period.
- The global market report further, aims to help to understand the rising degree of competition that is rising amongst the key market players by the steps taken by them for development in the form of mergers, investments, acquisitions, joint ventures, buying and selling, amongst others so that the scope widens and there are better chances of expansion.
Segment Overview
The Flight Data Monitoring Market size has been segmented globally based on the heads like end-use Industry, Solution Analysis, followed by Aircraft Analysis and Regional Type.
Based on the End-use Industry
The flight data monitoring market has been segmented based on the end-use industry and includes Fleet Operators, Drone Operators, and others like Investigation Agencies and FDM Service Providers.
Based on the Solution Analysis
The flight data monitoring market has been segmented based on the solution analysis and includes On-Board and On-Ground solutions.
Based on the Aircraft Analysis
The global market has been segmented based on the aircraft analysis and includes Fixed Wing and Rotary Wing.
Based on the Regional Type
This market has been segmented based on the regions and includes countries like North America, Europe, the Asian Pacific region alongside the rest of the world.
Regional Analysis
The Asia-Pacific region is anticipated to register the highest CAGR figures during the forecast period that will be ending in 2030. This is mainly due to the rise in new aircraft deliveries to airlines brands, as well as, to the armed forces of major countries, as a part of the APAC region like China, India, Japan, and South Korea, among others, during the ongoing forecast period of 2021-2030. Also, according to the information that has been circulated by the Boeing forecast, the Asia-Pacific will account for about 40% of the new aircraft deliveries over the next two decades. This will simultaneously result in a substantial increase in the demand for flight data monitoring systems in the global market premises. Also, there has been an increasing fleet of aircraft that is generating the demand for flight data monitoring services, and hence, help the APAC region to establish domination.
Recent Developments
- The on-board segment of the market is currently dominating the market trends. The market segment is expected to continue its dominance during the forecast period that will be ending in 2030. This is majorly due to the increased degree of procurement of new aircraft in both the commercial and military sectors. The rising demand is helping the market to fill in the loopholes related to the lack of investment to provide the best portfolio and market products for catering to the demand of the target audience that is spread in various locations amid the global market premises especially in the ongoing forecast period of 2021-2030.
- As of April 2020, Airbus, as one of the prominent market parts, is known to have as many as 7,645 aircraft on the backlog. This is available with more than 80% of these prevailing orders for one of the market products - A320 Family aircraft. A350XWBs alongside A220s are accounting for approximately 14% of the order backlog. The planned aircraft deliveries of new aircraft programs like Boeing 777X, COMAC C919, and MC-21, as a part of the upcoming years, are anticipated to propel the demand for the prevalent commercial aircraft flight data monitoring systems.
- There has been an increasing demand for commercial helicopters across various applications like search and rescue operations alongside private transports among others are generating a huge degree of demand for rotary-wing FDM systems. Military aircraft including Eurofighter Typhoon, Lockheed Martin F-35 Lightning II, and A-400M, amongst others, have planned their deliveries in major market countries Europe, Asia-Pacific, and Middle East and Africa regions in the forecast period ending in 2030.
Flight Data Monitoring Market Research Report: Information By Solution (Onboard and On Ground), End User (Fleet Operators, Drone Operators, FDM Service Providers, and Investigation Agencies), Component (FDM Services, FDM Software and FDM Systems) and Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2030
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