Press release
Flight Inspection Market Revenue, Opportunity, Segment and Key Trends (Safran Electronics & Defense, Textron Aviation, Saab) to 2024
Flight Inspection Market
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Upgradation of existing aircrafts and building state of art new aircrafts will stimulate the demand for airplane inspection. Out of 346 ongoing new airports globally, half of them are going to be in Asia Pacific which opens opportunities for airport support industry including flight inspection market. With increasing complexity in aircraft components, the service providers require highly skilled technicians to carry out maintenance & security check. Advancement in technology will drive the demand for upgraded maintenance systems.
Complex aircraft systems, time consuming maintenance checks and requirement of skilled labor to carry out quality checks are negatively impacting demand for industry. High cost of test equipment and complexity of operation limits the adoption of high technology systems.
Service providers of aircraft maintenance are looking for highly reliable, cost effective solutions provide growth opportunities for industry participants. Moreover, increasing disposable income in developing and expenditure on air travel will boost air transportation in coming years. This creates growth opportunities for service providers to expand their business in these countries.
Based on solution, the market is segmented as system and services. Flight inspection systems dominates the overall market and is expected to continue its dominance during the study period owing to upgradation of existing fleet and new aircraft demand from emerging economies.
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North America contributes maximum share as the region has highest number of airports, high commercial flight frequency and strong focus on military defense sector. New airport development program to improve air transportation industry creates need for frequent flight examination. Moreover, increasing number of air passengers will further increase the demand for aircraft maintenance related services.
Increasing investment in airport infrastructure development and defense spending will drive the demand for highly reliable service providers in Asia Pacific. Governments focusing on reducing dysfunctionality in aircrafts and ensure safe flight will boost the flight inspection market in countries such as India, China, Australia. The aviation industry in Asian countries are increasing exponentially which creates the growth potential for aircraft maintenance & service providers.
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The key participants in flight inspection market are Normarc Flight Inspection Systems, Safran Electronics & Defense, Textron Aviation Inc, Saab group, Flight Calibration Services Limited, Airfield Technology, Bayanat Airports. System and service providers focus on delivering low cost, high efficiency services to increase the customer satisfaction and maintain long term service contracts.
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