Press release
Flight Tracking System Market Soars with Advanced AI & Real-Time Monitoring Innovations
Flight Tracking System Market
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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Rise in safety concerns of passengers and adoption of real-time flight tracking practices for long haul commercial aircraft are expected to drive the market growth. Moreover, high cost associated with communication for receiving updates and technical issues related with these systems restrain the market. Furthermore, support of regulatory authorities by providing rebate programs and unavailability of tamper-proof solutions provide lucrative opportunities for the flight tracking system market.
Growth in safety concerns of passengers
In airline companies, the safety of passengers and crew members is the most important measure. Flight tracking system is effective in situation where an aircraft is flying in areas where radar coverage is very low. Therefore, increase in incidents of aircraft missing without leaving any track drives the growth of the flight tracking system market.
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Adoption of real-time flight tracking practices
Due to cases of many missing flights, pilot groups, Air Navigation Service Provider (ANSP), civil aviation authorities, and airframe & equipment manufacturers came together to work toward the improvement of flight tracking capabilities. Therefore, this led regulatory organizations to promote inclusion of real-time flight tracking for commercial aircraft. This is expected fuel the market growth over the forecast period.
COVID-19 scenario analysis:
COVID-19 has rapidly affected the sale in airlines industry, thus hampering the growth of the flight tracking system market.
Earlier, this market was expected to register a significant growth in 2021, but due to COVID-19, the market is expected to decline in the near future until the situation becomes stable and all processes are resumed.
Sales play a major role in airlines industry. Currently, there is no demand due to lockdown, which eventually led to the decline in the growth of the flight tracking system market.
Due to no demand, many of these companies have stopped their production as there is panic among people to work in a pandemic.
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Key Market Players
Spider Track Limited, ACR Electronics Inc., SITA, Aireon, Rockwell Collins, Blue Sky Network, AirNav Systems LLC, Garmin Ltd., FLYHT Aerospace Solutions Ltd., Honeywell International Inc.
By Type
ADS-B
ACARS
FANS
By Region
North America
Europe
Asia-Pacific
Latin America
the Middle East
Africa
Key benefits of the report:
๐ 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.
๐ The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the flight tracking system market share.
๐ The current market is analyzed to highlight the flight tracking system market growth scenario.
๐ Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
๐ The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
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