The increasing popularity of domestic and international travel, as well as the growing adoption of wireless sensors for flight data monitoring, are expected to drive rapid growth in the market.
Flight Data Monitoring Market is poised to achieve a market valuation of $9.1 billion by 2030, demonstrating a consistent CAGR of 5.5% throughout the forecast period from 2023 to 2030. This upward trajectory is primarily fuelled by the rising demand for enhanced flight safety and the increasing awareness of the manifold benefits associated with flight data monitoring.
Flight data monitoring (FDM) is a comprehensive system designed to capture and enhance flight safety by recording crucial flight data. FDM programs play a pivotal role in identifying, evaluating, and mitigating operational risks, detecting emerging trends, and conducting in-depth investigations during emergency situations. Additionally, FDM meticulously documents data that may be indispensable for future inquiries. Moreover, it consistently records flight data with the aim of enhancing fleet operational security and, in turn, optimizing operational efficiency. Furthermore, FDM serves as a valuable resource for training programs, contributing to the ongoing improvement of aviation personnel skills and competence.
Flight Data Monitoring Market Current and Future Trends
Flight Data Monitoring market is poised for substantial expansion in the forthcoming years. This market surge is propelled by several influential factors, including heightened demand for flight safety, a rising appreciation of the advantages offered by FDM, and the emergence of novel and inventive FDM solutions.
Boeing reports that the APAC region will account for approximately half of global air traffic and 42% of all new aircraft deliveries in the next two decades. This will increase the demand for flight data monitoring systems.
North America dominated the global flight data monitoring and analysis market with a 68.1% share by value. Europe, Asia Pacific, and Latin America followed in terms of market share.
International Air Transport Association (IATA) anticipates a doubling of global air travellers, projecting a total of 7.8 billion passengers over the next two decades. This substantial increase in the number of travellers is a significant driving force behind the continued growth of the aviation industry.
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Flight Data Monitoring Market Report – Scope:
- Flight Data Monitoring Market has been segmented By On-Board Solution, On-Ground Solution. By Component Type, FDM Service, FDM System, and FDM Software. By End User Industry, Fleet Operators, Drone Operators, Investigation Agencies, and FDM Service Providers and Geography. The report provides insights into the market dynamics, including market drivers and challenges.
- Flight Data Monitoring Market with top country data and analysis. The report also highlights the market potential, growth rates, and alternative relevant statistics.
- The competitive landscape section features company profiles of major players such as Curtiss Wright Corporation and FLYHT Aerospace Solutions Ltd. This report is a valuable source of guidance and direction for companies and individuals interested in the market.
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The top 10 players in the Flight Data Monitoring industry are:
- Flight Data Services (FDS)
- Flight Data Systems
- Safran Electronics & Defense
- Curtiss-Wright Corporation
- Teledyne Controls LLC
- Honeywell International Inc.
- Leonardo S.p.A.
- FLYHT Aerospace Solutions Ltd.
- SKYTRAC Systems Ltd.
- Flight Safety International
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