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The aviation sector, in recent times, has undergone significant transformations, prompted by major accidents that have reshaped safety parameters within the industry. Notable incidents, including the crash of Air France Flight 447 in June 2009, the mysterious disappearance of Malaysia Airlines Flight 370 in March 2014, and the tragic crash involving Indonesia AirAsia Flight QZ8501 in December 2014, underscore the critical importance of prioritizing flight safety. Furthermore, the global grounding of the Boeing 737 MAX in March 2019, following two fatal crashes resulting in 346 casualties, served as a stark reminder of the imperative to enhance safety measures within the aviation realm. In response to these challenges, there is an increasing recognition of the pivotal role that flight data monitoring plays in comprehensively analyzing the reasons behind such accidents and, subsequently, in fortifying safety measures.
The adoption of flight data monitoring systems has become a global trend within the aviation industry, reflecting a proactive approach by airlines to address safety challenges associated with aircraft systems. By continuously monitoring various aspects of aircraft performance and operation, these systems offer a mechanism to scrutinize and analyze data, aiding in the identification of potential issues and enhancing overall safety protocols. The emphasis on flight data monitoring is a strategic move by airlines to learn from past incidents, improve safety standards, and ensure a proactive approach to potential risks.
Driving the growth of the global flight data monitoring market are concurrent developments in safety standards and regulatory norms set forth by government bodies. The aviation industry is witnessing an ever-evolving landscape of regulations and guidelines aimed at bolstering safety measures and minimizing the likelihood of accidents. As these standards become more stringent, the adoption of advanced monitoring systems becomes imperative for airlines to comply with regulatory requirements and, more importantly, to instill a robust safety culture.
The commercial aircraft industry's advancements also play a crucial role in propelling the growth of the flight data monitoring market. As aircraft become more sophisticated and technologically advanced, the need for comprehensive monitoring systems becomes increasingly evident. Airlines are compelled to stay abreast of technological advancements and integrate sophisticated monitoring solutions to ensure the seamless operation and safety of their fleets.
Against this backdrop, the rising demand for a high level of safety in aviation is a fundamental driver fueling the demand for flight data monitoring systems. Airlines recognize the importance of not only meeting regulatory obligations but also exceeding them to instill passenger confidence and uphold their commitment to safety. Consequently, the adoption of flight data monitoring is poised to experience significant growth, contributing to the overall expansion of the global flight data monitoring market throughout the forecast period. As the aviation industry continues to prioritize safety and vigilance, flight data monitoring emerges as a critical tool to address evolving challenges and enhance the resilience of air travel.
Flight Data Monitoring Market Highlights:
Flight Data Monitoring Market Overview
Flight Data Monitoring Market size Valued at USD 2.9 Billion and CAGR of 9.2% during the forecast period of 2024-2032
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 2024 to 2032.
Company News:
- Curtiss-Wright: No recent specific news, but remains a major player in the market with their Integrated Flight Data Acquisition System (IFDAS).
- Teledyne Controls: No recent specific news, but offers a range of FDM solutions including the AV-DEC system.
- Safran: No recent specific news, but a major player with their Flight Ops suite of FDM solutions.
- Guardian Mobility: Recently announced a partnership with AirAsia to provide FDM services for their fleet. (Source: Press release)
- Flight Data Services: No recent specific news, but a leading provider of FDM services globally.
COVID Analysis
The flight data monitoring market 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 2028. 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 2021-2028.
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 2028. 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 2021-2028.
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 2028.
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 2028.
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 2021-2028. 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 2028. 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 flight data monitoring 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.
Flight Data Monitoring Market Segmentation:
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 flight data monitoring market has been segmented based on the aircraft analysis and includes Fixed Wing and Rotary Wing.
Based on the Regional Type
This flight data monitoring 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 2028. 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 2021-2028. 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.
Competitive Landscape
The flight data monitoring market share is expected to rise in the global market during the ongoing forecast period of 2021-2028, 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 flight data monitoring 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
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 2028. 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 flight data monitoring market premises especially in the ongoing forecast period of 2021-2028.
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 2028.
Report Overview
The Flight data monitoring (FDM) market is also known as Flight Operations Quality Assurance (FOQA). This is a method of capturing, analyzing, and visualizing the aircraft that have generated data that is moving from one point to another. This information is extracted and converted in the form of flight data monitoring market reports from the analysis that is being used to find new ways to enhance flight safety that help in increasing the overall degree of operational efficiency. The market study includes all the FDM hardware, software, segment distribution, competition, and services provided by the key market players during the forecast period of 2021-2028.
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