This report provides an analysis of the flight data
monitoring market from 2017 to 2022. It discusses industry and technology
trends that are currently prevailing in the flight data monitoring market. It
analyzes the factors that drive and restrain the growth of the flight data
monitoring market as well as the challenges faced by it. The flight data
monitoring market is projected to grow from USD 3.71 billion in 2017 to USD 5.34
billion by 2022, at a CAGR of 7.55% from 2017 to 2022. Technological advancements
in flight data monitoring techniques, increasing airline fleet size across the
globe, high adoption of real-time data analysis techniques, and increase in the number of aircraft
deliveries are some of the factors driving the flight data monitoring market.
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Based on end
user, the drone operators segment of the flight data monitoring market is projected to grow at the highest CAGR during
the forecast period, as unmanned aerial vehicles (UAVs), such as drones,
are becoming increasingly popular due to the advancements in their control
mechanisms and price reduction. UAVs are being
used in various applications, such as package delivery, plantation and
railroad track monitoring, etc., where UAVs carry out tasks in an automated
fashion.
The fleet operators end
user segment has been divided into
commercial aviation and military aviation. The commercial aviation subsegment
is expected to lead the fleet operators segment during the forecast period. The
rise in commercial air travel globally and increase in defense budgets of
countries worldwide are the key factors that are projected to fuel the demand
for commercial airplanes, thereby driving the flight data monitoring market.
The
North America region is projected to lead the flight data monitoring market
during the forecast period. This market in North America is expected to grow significantly
due to the increase in aircraft deliveries and rise in air passenger traffic. In addition, major aircraft manufacturers, such
as Boeing (US) and Bombardier (Canada), are based in this region, which are the
major vendors of flight data monitoring.
The
flight data monitoring market
in the Asia Pacific is projected to grow
at the highest CAGR from 2017 to 2022. Countries in the Asia
Pacific region are upgrading their capabilities through developments in the
field of flight data
monitoring techniques. The aviation
industry is growing at a significant pace in the Asia Pacific region, mainly
driven by the increasing air passenger traffic resulting in more flight hours
for aircraft. The growth in passenger traffic has resulted in an increased
demand for new aircraft in the region, which is expected to drive the flight data monitoring market during the forecast period.
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