Flight Tracking System Market Size Worth US$ 549.7 Million By 2027 | CAGR 5.6%: The Insight Partners
The flight tracking system market was valued at US$ 354.7 million in 2019 and is projected to reach US$ 549.7 million by 2027. The Flight tracking system market is expected to grow at a CAGR of 5.6% during the forecast period of 2020 to 2027.
As per IATA (International Air Transport Association) number of passengers travelling by air is expected to reach ~7.8 billion by 2036. This growth in the passengers travelling through airways is majorly influenced by the rapidly emerging middle class segment in developing economies. Exponentially burgeoning working group in the developing region has resulted in increased disposable income and freight traffic. The rise in air travel demand has subsequently resulted in increased production of commercial aircraft, which in response have significantly contributed to the growth of Flight Tracking System market. In the year 2014, after the case of the flight MH17 of Malaysian airlines, the concerns for enhancing the flight tracking system in commercial flight and management of air traffic system became extensively critical. This had led to reinvention of various regulations and emergence of various new initiatives by the global aviation agencies. The UN specialized agency ICAO had created the GADSS (Global Aeronautical Distress Safety System) the comprised of standards and Recommendation Practices (SARP), which described the expectation of airlines and aircraft operators with respect to aircraft tracking in normal conditions and also when the aircrafts are in distress. The normal flight tracking SARPs were applicable in the late 2018, these SARPs established the duties of an air operator in regards to tracking of its aircraft across its zone of operation. Whereas the SARP associated with tracking of aircrafts in distress is anticipated to be implied in January 2021. These SARPs focus on the requirements for automatically tracking the flight in distress with respect to its position updates once or more in a minute.
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Not only had the regulatory bodies actively promoted the adoption of flight tracking systems, but some of the private airline companies also participated in the market activities to drive the adoption of flight tracking systems. Such as, the Qatar Airways sponsored to become the launch customer for GlobalBeacon flight tracking solution. The initiative was the result of partnership between FlightAware and Aireon, and the product was deployed by the airline company across its operation system in order to comply with the ICAO GADSS surveillance. Furthermore, FlightAware had also recently announced Iceland Air as its customer for its Firehose API (Application Program Interface). The API aims to provide a secured TCP (Transmission Control Protocol) based flight status data and streaming of flight positions using a combination of global air traffic control data, Mode S Multilateration (MLAT), ADS-B and aircraft data link information.
Flight Tracking System Market Insights:
Government initiated programs and initiatives to drive the overall growth in flight tracking system market:
In January 2019, Aviation Communications & Surveillance Systems, LLC (ACSS) announced the delivery of 10,000th production of its NXY mode-S transponder family. This in response has resulted in directives from the EASA and FAA to mandate the implementation of ADS-B to the aircrafts. The directive was the result of capabilities provided by ACSS, which is a joint venture between Thales and L3. The company offers products that facilitate the commercial, business and military aircrafts with the capability to operate in ADS-B airspace. Having achieve the benchmark of 10,000th NXT unit the market is projected to witness new aircrafts equipped with ADS-B out by early 2020.
System -Based Market Insights:
The Flight Tracking System Market by system has been segmented into ADS-B, FANS, ACARS, and portable flight tracking systems. Rising incidences of flights moving from the radar coverage with absence of any distress report has resulted in extensive development of the systems that offer real time fight tracking system. ADS-B is expected to be the fastest growth segment as per the analysis. Automatic Dependent Surveillance-Broadcast (ADS-B) is among the advance surveillance technology available that is used for tracking aircraft. As per the technology the aircraft defines its own position through satellite navigation and broadcasts position reports within fixed intervals.
End User -Based Market Insights:
The Flight Tracking System market is segmented on the basis of end user which consists of commercial and military organizations. The increasing count of aircraft fleet and rising middle class sensing capabilities are expected to increase the demand for new flights. The snowballing production of the aircrafts is expected to have a noteworthy impact on the flight tracking system. As per the ICAO guidelines the new aircrafts would be equipped with ADS-B which offers a substantially growth opportunity to the flight tracking system companies in the commercial sector. Whereas the military sector would have relatively low impact owing to certain unresolved issues regarding security of data of these military aircrafts. Despite, the ICAO guidelines would also impact the adoption of ADS-B systems post 2021.
Major highlights of the Flight Tracking System Market report:
• All-inclusive evaluation of the parent market
• Evolution of significant market aspects
• Industry-wide investigation of market segments
• Assessment of market value and volume in past, present, and forecast years
• Evaluation of market share
• Tactical approaches of market leaders
• Lucrative strategies to help companies strengthen their position in the market
Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Flight Tracking System Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.
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Major key players covered in this Flight Tracking System Market report:
• Honeywell International Inc.
• Collins Aerospace
• Garmin Ltd
• FLYHT Aerospace Solutions Ltd.
• Spider Tracks Limited
• SKYTRAC SYSTEMS LTD
• Blue Sky Network
Flight Tracking System Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
Reason to Buy
• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Flight Tracking System Market.
• Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
• The key findings and recommendations highlight crucial progressive industry trends in the Flight Tracking System Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
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Contact Person: Sameer Joshi
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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