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(Transportation-News.com, August 24, 2018 ) This report provides an analysis of the flight data monitoring market from 2017 to 2022. It discusses industry and technology trends that are currently prevailing in the flight data monitoring market. It analyzes the factors that drive and restrain the growth of the flight data monitoring market as well as the challenges faced by it. The flight data monitoring market is projected to grow from USD 3.71 billion in 2017 to USD 5.34 billion by 2022, at a CAGR of 7.55% from 2017 to 2022. Technological advancements in flight data monitoring techniques, increasing airline fleet size across the globe, high adoption of real-time data analysis techniques, and increase in the number of aircraft deliveries are some of the factors driving the flight data monitoring market.
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Based on end user, the drone operators segment of the flight data monitoring market is projected to grow at the highest CAGR during the forecast period, as unmanned aerial vehicles (UAVs), such as drones, are becoming increasingly popular due to the advancements in their control mechanisms and price reduction. UAVs are being used in various applications, such as package delivery, plantation and railroad track monitoring, etc., where UAVs carry out tasks in an automated fashion.
The fleet operators end user segment has been divided into commercial aviation and military aviation. The commercial aviation subsegment is expected to lead the fleet operators segment during the forecast period. The rise in commercial air travel globally and increase in defense budgets of countries worldwide are the key factors that are projected to fuel the demand for commercial airplanes, thereby driving the flight data monitoring market.
The North America region is projected to lead the flight data monitoring market during the forecast period. This market in North America is expected to grow significantly due to the increase in aircraft deliveries and rise in air passenger traffic. In addition, major aircraft manufacturers, such as Boeing (US) and Bombardier (Canada), are based in this region, which are the major vendors of flight data monitoring.
The flight data monitoring market in the Asia Pacific is projected to grow at the highest CAGR from 2017 to 2022. Countries in the Asia Pacific region are upgrading their capabilities through developments in the field of flight data monitoring techniques. The aviation industry is growing at a significant pace in the Asia Pacific region, mainly driven by the increasing air passenger traffic resulting in more flight hours for aircraft. The growth in passenger traffic has resulted in an increased demand for new aircraft in the region, which is expected to drive the flight data monitoring market during the forecast period.
The flight data monitoring market ecosystem comprises flight data software, system, and service providers, such as Curtiss Wright (US), Teledyne Controls LLC (US), Safran Electronics & Defense (US), Guardian Mobility (US), Flight Data Services Ltd. (US), and Scaled Analytics Inc. (US).
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