Artificial Intelligence
Flight Data Monitoring and Analysis Market to Be Worth US$ 2.7 Billion by The Year 2032 – Comprehensive Research Report by FMI
DUBAI, United Arab Emirates, April 04, 2022 (GLOBE NEWSWIRE) — The global Flight Data Monitoring And Analysis Market is projected to grow from US$ 1.1 Bn in 2021 to US$ 1.2 Bn by 2022. The market is expected to reach US$ 2.7 Bn by 2032 while recording a CAGR of 8.6% during the forecast period from 2022 to 2032. Growing demand for software to analyze flight data in the ground-based market drives the FDMA market. By utilizing FDMA, fuel consumption was improved, accident fatalities were decreased, maintenance costs were minimized, and air crew training was enhanced.
| Attributes | Details | |
| Flight Data Monitoring and Analysis Market CAGR (2022-2032) | 8.6% | |
| Flight Data Monitoring and Analysis Market (2032) | US$ 2.7 Billion | |
| Flight Data Monitoring and Analysis Market Attraction | Due to the government’s intervention in air passenger traffic and the steady growth of aircraft numbers and the constant monitoring of aircraft to stimulate growth for FDMA. | |
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Modern aircraft systems integrate software to boost performance, safety, and reduce maintenance costs. A growing number of data security concerns, along with an increasing number of blockchain systems and artificial intelligence and machine learning projects, are driving FDMA market growth. FDMA has seen a further increase in market growth due to an increase in the demand for reducing fight accidents in order to save either material losses or insurance costs in the fight industry.
Key Takeaways:
- The global flight data monitoring and analysis market is currently valued at US$ 2.7 Bn, with a CAGR of 8.6% during the forecast period.
- Japan is expected to record a CAGR of 11.4% between 2022 and 2032.
- Civil flight data monitoring and analysis segment will grow at a CAGR of 9% during the forecast period
- In China, the market is expected to reach US$ 35.4 million by the end of 2032 the forecast period.
- The Brazilian market recorded a CAGR of 7.9% during the forecast period.
“With the increasing number of commercial and military aircraft and the number of cargo deliveries and the expansion of airports during the next few years, there will be a sustained growth for flight data monitoring and analysis in the forecast period.”
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Comparative View of Flight Data Monitoring and Analysis Market
| Attributes | Flight Data Monitoring and Analysis Market | Commercial Aviation Market | Automatic Dependent Surveillance-Broadcast Market | |||
| CAGR(2022-2032) | 8.6% | 4.7% | 6% | |||
| Market Value (2032) | US$ 2.7 Billion | US$ 174 Billion | US$ 479 Million | |||
| Growth Factor | It is anticipated that new commercial aircraft will be purchased because of airline expansion plans and military aircraft will be ordered and delivered during the forecast period, resulting in the development of flight data monitoring systems during the forecast period. | Increase in the number of air passengers, fuel-efficient aircraft, aviation technology government initiatives to expand airports and CARGO facilities to stimulate growth for commercial aircraft. | It is estimated that there will be significant growth in emerging economies for ADS-B networks in the future as well as increased adoption of enhanced air surveillance technologies in developed economies. All of this will increase safety levels and boost the market for ADS-B in the market. | |||
| Opportunity | Implementation of the latest wireless technology for aircraft maintenance, real-time analytics within the FDMA can generate a significant boost to business opportunities. | Changing air routes, aircraft technologies, and consumer travel experiences, coupled with the emergence of a middle class population, are expected to offer opportunities for the commercial aircraft market. | Government regulations in commercial aircraft require ADS-B equipment to be installed as a standard feature in many aircraft to provide accurate plane positions provide opportunities in the market. | |||
| Key Trends | Increased fuel efficiency with FDMA, government regulations and concerns about safety awareness are key trends in the market. | The growth of tourism, new aircraft models for unique travel experiences, and shorter flight routes are key trends the market is embracing at the moment. | Increasing instances of aircraft missing, extreme weather changes, and government initiatives for tracking flights in real time are key trends in the ADS-B market. | |||
Competitive Landscape
Key Players that have been profiled in the report are Flight Data Services Ltd., Scaled Analytics Inc., Aerobytes Ltd, Curtiss-Wright Corporation, Teledyne Controls. LLC. Developing innovative products and technology will allow customers to get the most out of new technologies.
- In September 2021, FLYHT Aerospace Solutions Ltd. announced the acquisition of the Water Vapor Sensing System product line from SpectraSensors Inc. A license for SpectraSensors’ TDLAS technology, for use in the weather and aviation markets, is included in the acquisition, along with manufacturing assets, inventory, and aviation-specific intellectual property.
- Acrouzet and Safran Electronics & Defense have joined forces under the European program to foster innovation in aeronautics to develop a new mini-control grip that will meet both the current and future needs of fixed-wing and rotorcraft pilots. The firm has developed a demonstrator and completed tests and delivered the prototype to Safran Electronics & Defense in November 2021. The new technology will assist pilots in knowing what to do in an emergency situation so they can take the appropriate action.
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More Valuable Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the global flight data monitoring and analysis market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights By Aircraft Type (Fixed Wing, Rotary Type) By End-Use Vertical (Civil, Military) By Civil (Commercial Aviation, General Aviation) & By Region (North America, Europe, Asia Pacific, Middle East, and Africa, Latin America
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