Flight Tracking System Market Expected to Reach Valuation of USD 562.5 Million by 2023 | ACR Electronics, AirNav, Blue Sky Nw, FLYHT, Garmin, Honeywell, Rockwell Collins and Spider Tracks

Global Flight Tracking System Market by Type (Automatic Dependent Surveillance-Broadcast (ADS-B), Aircraft Communications Addressing and Reporting System (ACARS), Future Air Navigation System (FANS)), by Aircraft Type (Fixed-Wing, Rotary-Wing), by End-User (Commercial, Military), and by Region-Forecast Till 2023

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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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.

Regional Analysis

The economic upsurge, market liberalization, and evolution of successful business models make Asia Pacific one of the biggest market for the aviation industry. Asia Pacific is expected to be a high revenue pocket for the global flight tracking system market. In 2017, Asia Pacific emerged as a prominent market for flight tracking system and accounted for USD 90.8 Million in 2016. Endeavors from the governments of fast-developing countries such as China, India, and Japan as well as investments from the private sector towards strengthening the air-to-ground data communication capabilities foster the growth of the market. Asia Pacific will attract investments from major companies which will help the market to capture a CAGR of 6.76% over the forecast period.

Currently, North America is the largest market for flight tracking system and accounted for 40.79% share of the market in 2017, reaching a valuation of 162 Million. Development of ADS-B infrastructure in North America is expected to propel the growth of the ADS-B segment of the flight tracking system over the forecast period. The region has witnessed extensive investments by the airline companies, in a bid to increase the safety of their respective aircraft. Substantial investment by the US military in R&D for enhancing the traceability of their planes have been pivotal in the growth of the North America market. Moreover, the concentration of major players in the region such as ACR Electronics Inc., Aireon LLC, AirNav Systems LLC, Blue Sky Network, Honeywell International Inc., and Rockwell Collins Inc. spurs the growth of the market. The market is projected to exhibit the highest growth rate of 6.11% over the forecast period.

Competitive Tracking

The notable players operating in the global flight tracking system market include ACR Electronics Inc., AirNav Systems LLC, FLYHT Aerospace Solutions Ltd. (FLYHT), Honeywell International Inc., SITA, Aireon, Blue Sky Network, Garmin Ltd., Rockwell Collins, and Spider Tracks Limited.

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Table of Contents

1 Executive Summary$ 1,230.00

2 Market Introduction$ 0.00
2.1 Definition 18
2.2 Scope of the Study 18
2.3 List of Assumptions 19
2.4 Market Structure 19
2.5 Key Takeaways 20
2.6 Key Buying Criteria 20

3 Research Methodology$ 0.00
3.1 Research Process 22
3.2 Primary Research 23
3.3 Secondary Research 23
3.4 Market Size Estimation 24
3.5 Forecast Model 25

4 Market Dynamics$ 950.00
4.1 Introduction 27
4.2 Drivers 27
4.2.1 Increase in Demand for New Aircraft 27
4.2.2 Focus on Ensuring Flight Safety and Constant Monitoring of Aircraft 29
4.2.3 Growing Adoption of Ads-b Flight Tracking System 29
4.3 Restraints 29
4.3.1 High Installation Cost 29
4.3.2 Cybersecurity Issues 29
4.4 Opportunities 30
4.4.1 Increasing Demand for Flight Tracking System in Emerging Economies 30
4.4.2 Rising Demand for Military Uavs 30
4.5 Trends 30
4.5.1 Widespread Use of Apps for Flight Tracking 30
4.5.2 Growing Need for Real-time Flight Tracking System 30

Continued..........

List of Tables

Table 1 Market Synopsis 16
Table 2 List of Assumptions 19
Table 3 Global Flight Tracking System Market, by Type, 2017-2023 (Usd Million) 36
Table 4 Ads-b: Flight Tracking System Market, by Region, 2017-2023 (Usd Million) 37
Table 5 Acars: Flight Tracking System Market, by Region, 2017-2023 (Usd Million) 38
Table 6 Fans: Flight Tracking System Market, by Region, 2017-2023 (Usd Million) 38
Table 7 Global Flight Tracking System Market, by Aircraft Type, 2017-2023 (Usd Million) 40
Table 8 Fixed-wing: Flight Tracking System Market, by Region, 2017-2023 (Usd Million) 41
Table 9 Rotary-wing: Flight Tracking System Market, by Region, 2017-2023 (Usd Million) 42

Continued........

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