Flight Tracking System Market 2018 Global Size, Share, Recent Trends by ACR Electronics, Aireon, AirNav Systems, Blue Sky Network, FLYHT Aerospace Solutions, Garmin, Honeywell International

Market Highlights:

The global flight tracking system market is anticipated to reflect a positive growth trend and is expected to capture a CAGR of 6.07% over the forecast period of 2028-2023, proclaims Market Research Future (MRFR) in a meticulously analyzed research report. The global flight tracking system market currently stands at USD 419.0 Million in 2018 and is expected to reach a valuation of USD 562.5 Million by the end of 2023.

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Major Key Players
ACR Electronics Inc. (U.S.),
Aireon LLC (U.S.),
AirNav Systems LLC (U.S.),
Blue Sky Network (U.S.),
FLYHT Aerospace Solutions Ltd. (Canada),
Garmin International Inc. (U.S.),
Honeywell (U.S.),
Rockwell Collins Inc. (U.S.),
Spider Tracks Limited (New Zealand), and SITA (Switzerland).

According to MRFR, global Flight Tracking System Market is estimated to witness a CAGR of more than 6% during the forecast period.

Flight tracking system requirement for the aviation sector is soaring high driven by strong air passenger traffic on a global scale. The growth of the middle-class travelers in developing countries coupled with reduced airfares, increase in affordability and higher living standards have inflated the demand for new aircraft. According to the International Air Transport Association (IATA), the global air travel is likely to double by 2035. It also estimates that China is likely to surpass the U.S. and become the largest aviation market (in terms of passenger traffic) in the world by 2024.

Growing adoption of Automatic Dependent Surveillance-Broadcast (ADS-B) flight tracking system is influencing the growth of the global flight tracking system market positively. ADS-B is a NextGen technology that transforms aircraft surveillance using satellite-based positioning. ADS-B flight tracking systems are highly effective in tracking all kinds of aircraft and come in an extensive price range. The ADS-B flight tracking system offers various advantages over other flight tracking systems and has gained prevalence of late. Multiple countries have mandated the use of ADS-B systems in aircraft and stringent government regulations for aircraft tracking are factors promoting the adoption of ADS-B flight tracking system which drives the growth of the global flight tracking system market.

Equipping aircraft fleets with flight tracking systems offer a host of advantages, but high costs associated with the installation of flight tracking systems is likely to restrain the growth of the market over the forecast period. Some flight tracking systems require investments as high as USD 120,000 per plane which deters airlines from investing in flight tracking systems. Furthermore, other costs such as the cost of service, data transmission cost, reporting costs, and certification costs associated with flight tracking systems constrain the growth of the market.

Towering demand for flight tracking systems in emerging economies is expected to provide opportunities for market expansion. There has been extensive growth of flight tracking infrastructure in emerging economies such as China, Saudi Arabia, and India. In June 2017, Indian airlines ordered over 1080 commercial passenger planes. Moreover, the disappearance of the Malaysian Aircraft MH370 in 2014 has prompted regulatory authorities to mandate high-level safety standards for flights which drives the market growth.

The global flight tracking system market has been segmented based on type, aircraft type, and end-user. By type, the market has been segmented into ADS-B, ACARS, and FANS. Type-wise, the ADS-B segment is the largest segment. Greater focus on enhancing situational awareness, increasing safety and efficiency of air & ground operations, in terms of separation, coverage redundancy, and obtaining surveillance data in non-radar areas, are factors which can be attributed to the growth of the segment.

By aircraft type, the market has been segmented into fixed-wing and rotary-wing. The fixed-wing segment is the largest segment on the basis of aircraft type and is expected to register a CAGR of 6.50% over the forecast period. Fixed wing aircraft type is gaining traction due to its real-time data streaming ability.

By end-user, the market has been segmented into commercial and military. The commercial segment is the largest end-user. Initiatives taken by various organizations, such as ICAO (International Civil Aviation Organization), FAA (Federal Aviation Administration), and EASA (European Aviation Safety Agency), towards the prevention of loss of commercial aircraft position reporting in an emergency situation with no radar coverage has induced demand for flight tracking systems in commercial aircrafts.

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The report for Global Flight tracking system Market by Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance.

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