The flight data monitoring global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Flight Data Monitoring Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 growth in the historic period can be attributed to increasing air passenger traffic and subsequent, increase in the number of aircraft, increasing safety standards, regulatory norms by government bodies, growing requirement for aviation safety, rising volume of data generated by the aviation industry.
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%. The growth in the forecast period can be attributed to increased air transportation activity, growing importance of safety in the aviation industry, rising demand for efficient aircraft maintenance, increasing demand for real-time data, increasing demand for cost-effective flight data analysis. Major trends in the forecast period include adoption of artificial intelligence and machine learning, advancing commercial aircraft industry, growing need for real-time monitoring, integration of data analytics, technological advancements in data analytics.
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Scope Of Flight Data Monitoring Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Flight Data Monitoring Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the fan engagement market are developing advanced customer engagement tools, such as FanID, to improve products, services, and overall fan experiences. FanID is a unique identifier or digital identity used in the sports industry to enhance fan engagement and personalized marketing efforts. For instance, in January 2024, Sportradar AG, a Switzerland-based sports technology company, launched FanID, a one-of-a-kind marketing technology that personalizes fan engagement for sports rights holders and companies. This tool seeks to provide a better insight into fans’ interests and purchasing intentions while increasing the value they bring sponsors. FanID facilitates scalable, direct connections with fans via personalized, timely, and relevant advertisements. To efficiently deliver personalized digital advertising material to fans, the method requires data gathering, connection, activation, and orchestration.
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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Regional Insights –
North America was the largest region in the flight data monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the flight data monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
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
Table of Contents
- Executive Summary
- Flight Data Monitoring Market Characteristics
- Flight Data Monitoring Market Trends And Strategies
- Flight Data Monitoring Market – Macro Economic Scenario
- Global Flight Data Monitoring Market Size and Growth
………..
- Global Flight Data Monitoring Market Competitive Dashboard
- Key Mergers And Acquisitions In The Flight Data Monitoring Market
- Flight Data Monitoring Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Flight Data Monitoring Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Flight Data Monitoring Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Flight Data Monitoring Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……………
Table 74: Flight Data People Financial Performance
Table 75: Helinalysis Ltd. Financial Performance
Table 76: Hi-Fly Marketing Financial Performance
Table 77: Aerosight Technologies Private Limited Financial Performance
Table 78: Ergoss Logiciels Sàrl Financial Performance
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