Flight Data Monitoring Market To Reach USD 5.7 Billion In 2025 | CAGR 7.8% - Forencis Research

Flight Data Monitoring Market Size, Share, Trends, Growth, Analysis, Research

Global Flight Data Monitoring Market: Key Highlights

  • According to the new market research report Flight Data Monitoring Market by Solution (System, Service, and Software) by Source (On Flight and Off Flight) by End-User (Commercial Aircraft and Military Aircraft) by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast from 2018 To 2025”, the global flight data monitoring market is estimated to reach USD 5.7 Billion in 2025 at a CAGR of 7.8% during forecast period 2018-2025.
  • Stringent ICAO standards for safety improvement, in 2008 Annex 6 Chicago Convention was established by the International Civil Aviation Organization (ICAO) to implement safety management systems through operators of aircraft. This convention provides rules of airspace, safety, aircraft registration, and others are some of the factors which are expected to drive the flight data monitoring market during the forecast period
  • However, the lack of skilled workforce is expected to restrain the market during the forecast period.

Flight Data Monitoring Market

Global Flight Data Monitoring Market: Key Market Dynamics

  • Flight data monitoring (FDA) is used throughout the world which helps to identify risk, prevent incidents and take appropriate actions. ICAO standards for safety improvement are expected to drive this market growth during the forecast period.
  • Flight data monitoring reports help to reduce unscheduled maintenance which results in a reduction of overall time spent on maintenance activities. Hence, a reduction in maintenance cost is expected to drive the flight data monitoring market during the forecast period.
  • Flight data monitoring is a new concept and to achieve the result companies strive to implement their supportive strategies. There exist issues regarding the lack of skilled people which impacts the market growth.
  • Rising adoption of wireless sensors helps in providing a holistic view of the overall aircraft’s health. This is expected to open up new growth avenues for the flight data monitoring market in the near future.
  • Data management act as a challenge so robust data processing is required to identify any errors in the given report if not it will result in inaccurate analysis.

Global Flight Data Monitoring Market: Regional Overview

  • Asia-Pacific

The Asia-Pacific region is set to register robust long term growth in the commercial aviation space. Aviation is expected to grow robustly over the next couple of decades. Hence, increasing growth in the commercial aviation coupled with the growing emphasis on reduction of unscheduled maintenance of aircraft and overall aviation safety is expected to drive the flight data monitoring market significantly in the Asia–Pacific region.

  • Europe           

The European flight data monitoring market is expected to grow due to a rise in air traffic. According to the European commission, air traffic in the European region is forecasted to grow by 3.7% annually. In addition to this the market is growing due to rise in aircraft deliveries. As per report published by Japan Aircraft Development Corporation, demand for new passenger jet would be high in Europe, accounting for 22% of global market by end of 2038.

Global Flight Data Monitoring Market: Key Players Overview

  • Curtiss-Wright Corporation:

Curtiss-Wright Corporation is a US based company that provides solutions and services to the petrochemical, metalworking, agricultural equipment, shipbuilding, oil, automotive, rescue, fire, and aerospace industries. The company is mainly focused on advanced technologies which can provide reliability and an increase in safety. The company Curtiss-Wright, manufactures several products that can meet the application requirements. The company provides solutions in cost, system, motion control, and aerospace instruments. The product range also includes data acquisition flight recorder (DAFR) and Acra KAM-500.

  • Safran S.A.:

Safran S.A. company produces and distributes critical products for defense, security, and aerospace sectors. The company offers flight data monitoring service which helps operators and airlines to utilize the data regarding the flight. It also delivers solutions with complete analysis along with reports and statistics to identify high-risk events. In addition to this, the company provides support and services in customers, avionics, and defense.

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Rep Id : AnD 037

Published : 2020-01-22