At 7.2% CAGR, Flight Data Monitoring Systems Market is Growing with $5,987.90 Million by 2027

Global Flight Data Monitoring systems market was valued at US$ 4,122.26 million in 2019 and is projected to reach US$ 5,987.90 million by 2027; it is expected to grow at a CAGR of 7.2% during 2020–2027.

The technological advancements in aircraft safety have led to a highly competitive market. North America attracts several technological developments from economically robust countries. The fleet operators in the North America region are continuously enhancing the aircraft fleet with FDM systems to enhance flight operational safety and reduce maintenance cost.

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Impact of COVID-19 Pandemic on Flight Data Monitoring Systems Market

The flight data monitoring systems market in North America suffered huge economic loss in the first half of 2020 owing to the high number of COVID-19 positive cases, specifically in the US. The economic growth has lowered, which delayed the ongoing projects of commercial and defense upgradation. The US is one of the major exporters of aircraft but owing to disrupted supply chain and lowering economic conditions of importing countries, the export revenue is lowered. Enhancing trade relation to support international supply post lockdown helped market to regain its position. The limiting strength of workforce due to physical distancing model hampered the production activities in the US. The demand for aircraft is lowered, which created severe impact on the aircraft manufacturing companies. For instance, Boeing company expected lower demand from market than their previous prediction amid COVID-19 outbreak. The pandemic has lowered their expectation. In new report, Boeing predicted 11% drop in demand from its forecast a year ago. Such lowering demand and sale of aircraft have direct impact on the adoption of flight data monitoring systems and services, which hindered the market growth.

Presence of major aircraft manufacturers in the region include Airbus, Boeing, Lockheed Martin, Northrop Grumman, GE Aviation, and Raytheon Technologies, which is propelling the market growth. Further, presence of leading enterprises, such as Curtiss-Wright Corporation, and Honeywell International Inc in the region, large presence of early technology adopters in the region, and strong manufacturing of commercial aircraft in the US are among the factors anticipated to boost the flight data monitoring systems market growth.

For instance, Southwest Airlines has procured a flight efficiency analytics solution by GE Aviation to support its fleet of ~700 Boeing 737 aircraft. GE Aviation added analytics for efficient service with huge operational efficiency. For instance, in December 2020, L3Harris Technologies is offering flight data analysis services for all AReS II-equipped Cessna Citation CJ4 jets, manufactured by Textron Aviation Inc. The service is supposed to collect the flight data to improve and monitor operational issues in jets. Such strong adoption of FDM systems in the commercial aircraft as well as further increasing number of aircraft is bolstering the flight data monitoring systems market in North America. The increasing number of commercial aircrafts manufacturing companies in the region is further projected to fuel the market growth during the forecast period. Asia pacific is biggest consumer of the commercial aircrafts as countries such as India, China & Japan are advancing the number of commercial aircraft which is helping region with significant CAGR.

Strategic Insights

Players operating in the flight data monitoring systems market are mainly focusing on the development of advanced and efficient products.

• In 2020, L3Harris Technologies is offering flight data analysis services for all AReS II-equipped Cessna Citation CJ4 jets, manufactured by Textron Aviation Inc.
• In 2021, The Appareo is providing the aircraft communication units (ACUs) for the Bell 407GXi and Bell 429 helicopters.

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