Flight Data Monitoring Market Size Worth USD 2.9 Billion by 2030 Registering a CAGR of 9.2% - Report by Market...
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 by MRFR
New York,us, Jan. 25, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), Flight Data Monitoring Market Research Report: Information by Solution, End User, Component and Region - Forecast till 2030, the market size Valued at USD 2.9 Billion and CAGR of 9.2% during the forecast period of 2020-2030.
Flight Data Monitoring Market Scope:
FDM, or Flight Data Monitoring, is a subset of quality assurance and operations research. The flights are tracked and their data analyzed to shed light on an occurrence or provide a forecast. It's a skill you'll learn along the way. There are two possible locations for Flight Data Monitoring (FDM): on board and on the ground. Flight data monitoring consists of the FDM service, FDM system, and FDM software.
|2030 Market Size||2.9 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Solution, End User, Component and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||The procurement of new commercial aircraft has been fueled by the expansion plans that are underway for the airlines|
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During the forecast period of 2021-2028, the global market share for flight data monitoring is projected to increase as a result of rising demand and excellent preparation and planning of the aircraft by the companies for a range of global target audience. Companies' investments and funding of flight data monitoring infrastructure around the world are contributing to the global development of the market. The following are some of the most prominent companies in the international market, along with summaries of their most recent activities. The major market players 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),
- AeroVision International (US).
The primary factors driving the global flight data monitoring market are the growing demand for better situational awareness for efficient airline operations, the necessity to minimize the cost of unscheduled maintenance, the increasing volume of data generated by the aviation industry, and an increase in aircraft deliveries.
Cost-effective asset utilization strategies are on the rise, and there has been a growing demand for situational awareness to help cut down on unplanned repairs. The global and forecasted expansion of the market from 2021 to 2028 is bolstered by the increasing demand for regular maintenance of aircraft deliveries.
Expansion ambitions for airlines, along with orders and deliveries of the necessary military aircraft, have spurred the purchase of new commercial aircraft during the forecast period ending in 2028. In the years ahead, between 2021 and 2028, this is expected to drive a tremendous amount of demand for new flight data monitoring systems.
Constant assurance of the quality of accuracy and information received by the flight data monitoring aged aircraft during the worldwide market premises have emerged as a challenge to the flight data monitoring industry's dominant position in the global market, which is expected to continue until 2028.
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Since the beginning of the global coronavirus pandemic at the end of 2019, and its subsequent spread to foreign sites in 2020, the market for flight data monitoring has been one of the most affected. When it comes to overcoming the difficulties that have been fueling the market since the pandemic's outbreak, the travel and tourism industry is being hit hard on both the local and international fronts. In order to recoup the losses experienced over the anticipated period ending in 2028, investors in the market are currently searching for conducive conditions. There is a serious shortage of resources that can be put toward satisfying the expanding wants and needs of the flight data monitoring market and its increasingly dispersed target audience.
Therefore, based on predictions for the forecast period of 2021-2028, the global market players and investors are bolstering their investment portfolios to aid in the expansion of global market products, and then reducing restrictions that will help the market and give the market proper space to expand.
Based on the End-use Industry
Fleet Operators segment to expand at a notable CAGR over the review period.
based on the solution
On-Board segment is likely to grow at a substantial growth rate over the review period.
Based on the Aircraft Analysis
Rotary Wing segment is poised to acquire significant value over the review period.
During the forecast period ending in 2028, the Asia-Pacific region is expected to post the highest CAGR values. This is mostly attributable to an anticipated increase in new aircraft deliveries to airline companies and the armed services of major countries in the APAC area such as China, India, Japan, and South Korea between 2021 and 2028. In addition, the Asia-Pacific region is expected to get almost 40% of all new aircraft deliveries over the next two decades, according to data from a Boeing prediction that has been widely disseminated.
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As a corollary, this will spur a huge uptick in interest in flight data monitoring systems across international supply chains. Additionally, the APAC area has been able to develop dominance thanks to the growing need for flight data monitoring services. Future market value is anticipated to increase as a result of increases in both industrial production and consumer spending. Demand for tracking and analyzing flight data has risen in tandem with the region's booming import and export sector.
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