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Flight Data Monitoring Market Growth Analysis, Trends, Share, Market Size And Forecast To 2033
Flight Data Monitoring Market
As per the report, the flight data monitoring market size has grown strongly in recent years. It will grow from $5.50 billion in 2023 to $6.01 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The flight data monitoring market size is expected to see strong growth in the next few years. It will grow to $8.65 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%.
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Rising Air Transportation Activity Fuels Flight Data Monitoring Market Growth
The increased air transportation activity is expected to propel the growth of the flight data monitoring market going forward. The air transportation activity increases due to its pivotal role in economic growth, connectivity, job creation, tourism promotion, and infrastructural development at national and international levels. Flight data monitoring systems help airlines demonstrate compliance with regulatory requirements and industry standards by capturing, analyzing, and reporting flight data as mandated by aviation authorities. This ensures adherence to safety regulations, facilitates regulatory audits, and promotes transparency and accountability in air transportation activities. For instance, in March 2023, according to the Bureau of Transportation Statistics Report, a US-based government office that collects, analyses, and publishes information on the nation's transportation systems, in 2022, US airlines transported 853 million passengers (unadjusted), up from 658 million in 2021 and 388 million in 2020, a 30% increase year on year. Therefore, the increased air transportation activity is driving the growth of the flight data monitoring market.
Flight Data Systems Launches Innovative FDAIU Retrofit Solution, Revolutionizing Aviation Data Acquisition
Major companies operating in the flight data monitoring market are developing advanced solutions such as flight data acquisition interface units (FDAIU) to enhance data acquisition capabilities and ensure compatibility with modern recording systems in the aviation industry. FDAIU plays a crucial role in collecting, sampling, conditioning, and digitizing analog signals representing aircraft functions to enhance data acquisition capabilities within the aviation industry. For instance, in March 2022, Flight Data Systems Pty. Ltd., a US-based company that provides flight data solutions, launched the flight data acquisition interface unit (FDAIU). This innovative solution enables operators to upgrade outdated FDRs with Flight Data Systems' SENTRY series of recorders, efficiently modernizing flight data recording systems. This retrofit solution offers a cost-effective way for operators to modernize their flight data recording systems, contributing to enhanced data collection and analysis functionalities within the flight data monitoring sector.
The flight data monitoring market covered in this report is segmented -
1) By Component: Flight Data Monitoring (FDM) Service, Flight Data Monitoring (FDM) Software, Flight Data Monitoring (FDM) System
2) By Solution: Onboard, On-Ground
3) By End-User: Fleet Operators, Drone Operators, Flight Data Monitoring (FDM) Service Providers, Investigating Agencies
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Major companies operating in the flight data monitoring market are Honeywell International Inc., Safran SA, L3 Harris Technology Inc., Leonardo S.p.A., Teledyne Technologies Incorporated, Curtiss-Wright Corporation, FlightSafety International Inc., NeST Aerospace Pvt. Ltd., NSE Groupe, SkyTrac Systems Ltd., Flight Data Systems Pty. Ltd., Metro Aviation Inc., Guardian Mobility Corporation, FLYHT Aerospace Solutions Ltd., AeroVision International LLC, Scaled Analytics Inc., Flight Data Services Ltd., Aerobytes Ltd., Flight Data People, Helinalysis Ltd., Hi-Fly Marketing, Aerosight Technologies Private Limited, Ergoss Logiciels Sàrl, Truth Data Insights (Holdings) Limited, SAGEM SA
Contents of the report:
1. Executive Summary
2. Flight Data Monitoring Market Report Structure
3. Flight Data Monitoring Market Trends And Strategies
4. Flight Data Monitoring Market - Macro Economic Scenario
5. Flight Data Monitoring Market Size And Growth
…..
27. Flight Data Monitoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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