Flight Data Monitoring Market to Gain USD 2.9 BN by 2030, with 9.2% CAGR from 2020 to 2030
Research Reports
Nov 15, 2023
Flight Data Monitoring Market Overview
The flight data monitoring market is likely to show continual revenue growth. The increasing number of commercial aircraft worldwide would drive the flight data monitoring market growth. Market Research Future (MRFR) states that the global flight data monitoring market value is poised to garner USD 2.9 BN by 2030, registering a 9.2% CAGR during the assessment period (2020-2030).
Implementing flight data monitoring allows airlines to improve performance, raise revenue & profit, and save costs associated with operations. Flight data monitoring solutions are being adopted by a growing number of airline companies globally as these systems help them lower costs, enhance maintenance & performance, and boost profitability & revenue.
Also, applications of these systems in the aviation sector aid in risk management, inventory management, customer analytics, revenue management, and fuel management. Flight data monitoring also enables airline companies to maximize operating income by assisting businesses in creating an analytical response to client needs. The increasing adoption of flight data monitoring in the airline industry will drive market growth.
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Key Players
Leading flight data monitoring market players include Metro Aviation (US), Hi-Fly Marketing (South Africa), French Flight Safety (France), Helinalysis (UK), FlightSafety International (US), Aerobytes Ltd. (UK), Aerosight (Bulgaria), NeST Aerospace Pvt. Ltd. (India), AeroVision International (US), and ERGOSS LOGICIELS (France), among others.
Global Flight Data Monitoring Market – Competitive Landscape
The market includes tier-1 and tier-2 players with diverse product portfolios and global reach. Market players concentrate on developing cutting-edge software solutions, tools, and consulting services that can assist airlines in gaining insights from operational data that can be used to boost productivity, allocate resources more effectively, and cut costs. To further help customers achieve their requirements and goals, companies offer digital solutions, consulting services, and self-service analytics.
Flight Data Monitoring Market – Segments
The market report is segmented into solutions, components, end-users, and regions. The solution segment is sub-segmented into onboard and on-ground. The end user segment is sub-segmented into fleet operators, drone operators, FDM service providers, and investigation agencies. The component segment is sub-segmented into FDM services, software, and systems. By regions, the flight data monitoring market is segmented into North America, Europe, Asia-Pacific, MEA, and the rest of the world.
Flight Data Monitoring Market – Regional Analysis
The Asia-Pacific region dominates the flight data monitoring market share globally. The rise in new aircraft deliveries to airlines and armed forces of major countries substantiates the flight data monitoring market revenues. Besides, the increasing aircraft fleet in this region generates the flight data monitoring market demand. Japan, India, China, and South Korea are leading flight data monitoring solutions markets.
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Industry/ Innovation/ Related News
Jun.15, 2023 — Air Maestro, a leading safety management systems & training solutions supplier, announced that it is to merge with a flight data monitoring and aircraft tracking firm, Spidertracks, to strengthen the two businesses and create a unified front in enhancing safety & operational efficiency in the aviation market. The merged businesses will work on developing a unified software platform capable of leveraging the strengths of each company’s offerings and expanding the suite of services offered to customers.
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