Global Flight Data Monitoring and Analysis Market: Snapshot
Flight Data Monitoring and Analysis (FDMA) is used to enhance flight crew performance and air traffic control procedures. Thus, flaws in the aircraft operations can be detected before they lead to major accidents thus developing a preventive and corrective action. For this reason, they are integrated with the aircraft operator’s safety management system. In different regions of the world, the concept of FDMA is addressed differently. International Aviation Civil Organization (ICAO) has made FDMA mandatory for aircrafts above a specified maximum certificated take-off mass. This is expected to be the major driver for the Flight data monitoring and analysis market during the forecast period. According to the research report, the global flight data monitoring and analysis market is expected to be worth US$1,623.16 mn by the end of 2025 from US$677.6 mn in 2016. During the forecast years of 2017 and 2025, the global market for flight data monitoring and analysis market is estimated to progress at a CAGR of 10.4%.
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Fixed Wing Aircraft Segment to Assume Lead due to Maximum Take-offs
On the basis of aircraft type, the global market is segmented into fixed wing and rotary wing. The fixed wing segment involves the aircrafts that are lifted by their immovable wings and generally have larger seating capacity and weight than the rotary wings aircraft. Therefore, the fixed wing aircrafts have comparatively higher number of applications and carry large volumes than the rotary wing aircrafts. Since the FDMA solutions are mandatory for aircrafts with maximum certificated take-off mass of 27,000 Kg, the fixed wing aircrafts segment is estimated to dominate the FDMA market. By the end of the forecast period, this segment is likely to hold 90% of the market share.
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On the basis of end use, the global FDMA market is divided into civil, which includes commercial and general, and military. The civil segment includes all the non-military aviation activities, which comprises both commercial and general aviation aircrafts. The commercial sub segment includes aircrafts that are used for transportation of passengers and cargo loads while general sub segment includes aircrafts for business meetings, flight training, personal travel, recreational flying, medical transport, search and rescue, agriculture aviation, aerial firefighting, pipeline patrol, and many more applications. Due to larger number of activities the civil segment is estimated to the lead the global market over the coming few years.
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Asia Pacific to Exhibit Robust Growth Rate
On the basis of geography, the global FDMA market is likely to be driven by the Asia Pacific and the Middle East region. Emerging economies in these regions that are focusing on increasing the safety standards in the aviation industry is expected to support the market. Furthermore, the growing general aviation in Asia Pacific and Middle East are expected to be the possible reasons for its growth in the forecast period. However, North America held a major share in the overall market in 2016, which was closely followed by Europe. North America is estimated to register a CAGR of 8.8% in the global market between 2017 and 2025.
The key players profiled in the global Flight Data Monitoring and Analysis market include Curtiss-Wright Corporation, Teledyne Controls LLC, and Safran Electronics & Defense. Other players included are Hi-Fly Marketing, NeST Aerospace Pvt. Ltd, Guardian Mobility Corporation, French Flight Safety, Helinalysis Ltd, FlightDataPeople, Flight Data Services Ltd, Scaled Analytics Inc., and Aerobytes Ltd.
Global Flight Data Monitoring Analysis Market to Expand with Advancements in Aviation Planning
The demand within the global flight data monitoring analysis market is slated to rise at a formidable pace in the times to follow. Advancements in the aviation industry have created formidable avenues for growth within this market. The focus of this industry on fetching key data related to positioning and control of flights is an important consideration for decision makers. Decision makers in the aviation industry are under tremendous pressure to provide enhanced security to the masses. This has compelled them to induct new safety nodes and technologies. Therefore, the global flight data monitoring analysis market is projected to grow at a stellar pace.
- The COVID-19 pandemic caused several flights to go grounded as several airlines announced temporary shutdowns. Several flights are yet to fly again, and this is an important consideration from the perspective of evaluating market growth. The travel and tourism industry has become a victim of lowered sales and reduced traffic. This has caused loss of revenues, forcing the industry to take aggressive steps for business continuity. Amidst this, the use of flight data monitoring analysis has become a secondary priority across the aviation industry. In light of these factors, it is safe to say that the growth of the global flight data monitoring analysis market would remain feeble in the times to follow.
- The aviation industry has grown at a formidable pace over the previous decades as airlines made serious efforts towards customer satisfaction. This has helped the global flight data monitoring analysis market in recovering from the shocks of the pandemic. The strategic initiatives of leading airlines are also expected to contribute towards the growth of the global flight data monitoring analysis market. Investments in aviation have stagnated in recent months, creating new challenges for the vendors operating in the global flight data monitoring analysis market.
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