Flight Tracking System Market Supply-Demand, Investment

The global flight tracking system market is projected to register a CAGR of 5.80%

A flight tracking system involves the use of software for tracking aircraft, flights, and airport activities. Flight tracking systems and software are commercially available for airport or flight operators to track their flights or aircraft and monitor them if they deviate from the set flight path. Ifthe flight or aircraft deviates from the set path, the flight tracking system generates a warning alarm and alerts the authorities about potential problems.

The global flight tracking system market has witnessed high growth in recent years due to the increase in demand for new aircraft and the focus on ensuring flight safety and constant aircraft monitoring. However, high installation costs and cyber security threats are expected to restrain the market growth to some extent.

Market Dynamics

The increasing demand for new aircraft can be primarily attributed to two major factors, namely, rapidly growing ranks of middle-class air passengers and robust growth of the aviation industry. In April 2021, the Boeing Company, one of the world's largest aerospace and defense companies, in its annual commercial market outlook (CMO), forecasted the demand for over 2,200 new jet planes in India alone over the next two decades. The company ascribed this demand to strong aviation growth and the expanding middle class in the country. The company added that despite the near-term challenges posed by the pandemic, the passenger traffic growth is expected to be higher than the global average and get almost double compared to pre-pandemic levels by 2030.

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Global Flight Tracking System Market: Major Players
Blue Sky Network
Garmin Ltd.
AirNav Systems LLC
Aireon
ACR Electronics Inc.
SITA
FLYHT Aerospace Solutions Ltd. (FLYHT)
Rockwell Collins
Spider Tracks Limited
Honeywell International Inc.

Global Flight Tracking System Market: By Types
ADS-B
ACARS
FANS

Global Flight Tracking System Market: By Applications
Commercial
Military

Global Flight Tracking System Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Flight Tracking System market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Key benefits of the report:

This study presents the analytical depiction of the flight tracking system market along with current trends and future estimations to determine the imminent investment pockets.

The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the flight tracking system market share.

The current market is analyzed from 2020 to 2027 to highlight the flight tracking system market growth scenario.

Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.

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