Flight Tracking System Market: Rising flight traffic to contribute to increased demand for new aircrafts

1. Flight Tracking System Market Flight Tracking System Market to 2027 - Global Analysis and Forecasts by System (ADS-B, FANS, ACARS, and PFTS); End-use (Commercial and Military)

2. Flight Tracking System Market Current and future MarketScenario • The global flight tracking system market accounted to US$ 342.0 Mn in 2018 and is expected to grow at a CAGR of 5.6% during the forecast period 2019 - 2027, to account to US$ 549.7 Mn by 2027. • North America was the leading geographic flight tracking system market and it is anticipated to be the highest revenue contributor throughout the forecast period. Significant investments in the aerospace sector by Governments in the developed nations of US and Canada, is expected to fuel flight tracking system market in this region. • The global aerospace and defense industry in 2018 had recuperated and experienced a noteworthy year in terms of strengthening passenger travel demand, and rising worldwide military expenditures. For the coming years the industry is expected to continue to experience the growth trajectory led by commercial aerospace production and robust defense spending. • For the commercial sector the all-time high aircraft order backlog owing to the increasing demand for fuel efficient, and next generation aircrafts is anticipate to rise with surge in oil prices. With the aircraft backlog at its peak, manufacturers are expected to ramp up production rates, hence, driving growth in the sector. 

3. Flight Tracking System Market Factors Contributing to MarketGrowth • However, manufacturers could experience supply chain interruptions as some suppliers may struggle to increase production to keep up with the growing backlog. In the defense sector, heightened global tensions and geopolitical risks, recovery in the US defense budget, and higher defense spending by other major regional powers such as China, India, and Japan are expected to drive global defense sector growth in 2019 and beyond.  • On the rare occasions when accidents occur, rescuing survivors has the highest priority, followed by the recovery of casualties, the wreckage and the flight recorders. Analysis of data from these recorders is very important in supporting accident investigation which may, through identification of the cause of the accident, contribute towards enhancing safety. To achieve this intent, an effective and globally consistent approach to improving the alerting of search and rescue services is essential. • Get PDF copy @ https://www.theinsightpartners.com/sample/TIPTE00002710/

4. Key Findings • The global market for flight tracking system is segmented on the basis of system and end-use, and geography. Based on system, ADS-B segment dominates the flight tracking system market heavily and is expected to continue its dominance throughout the forecast period from 2019 - 2027. On the basis of end-use, commercial segment is expected to witness a significant growth rate in the coming years, however, military is projected to be the fastest growing segment. • Until now the FAA and DoD have been more focused upon equipping the military aircrafts with the ADS-B Out technology, whereas the GAO continues to raise concerns regarding the mitigation of security risks. This uncertainty with respect to the technology in the military has created a challenging situation for the companies catering to military fields.  • However as the January 2021 amendment affirms its implementation the demand for Flight Tracking systems is likely to continue its trajectory in during the forecast period. 

5. Flight Tracking System Market MarketSegments by System (ADS-B, FANS, ACARS, and PFTS) End-user Commercial and Military By Geography (North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), South America (SAM))

6. Flight Tracking System Market DominatingSegments Market Insights Rising flight traffic to contribute to increased demand for new aircrafts 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. Majority of the rising middle class was witnessed in China and India (as described by United Nations). Furthermore, as the world continue to recover from pervious economic contractions, the demand of air travel is projected to vary widely.

7. DominatingSegments • Government initiated programs and initiatives to drive the overall growth in flight tracking system market • Recently 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 Insights • The global flight tracking system market by system was led by ADS-B segment. The other systems for flight tracking market include FANS, ACARS, and PFTS. 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.

8. Dominating Segments Strategic Insights The market players present in flight tracking system market are mainly focusing towards product enhancements by implementing advance technologies. By signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world permit the company maintain its brand name globally. Most of the market initiative were observed in Asia Pacific, North America, Europe regions, which have high density of flight tracking related solutions. Few of the recent developments are listed below: 2018: Honeywell announced partnership with FlightAware for flight tracking. The partnership is aimed to provide advanced flight tracking support to business jet owners and operations control center. 2018: Aerion and Leonardo a helicopter manufacturer signed a Memorandum of Understanding (MOU). According to the agreement Leonardo would integrate Aerion’s ADS-B into its LeadInSky air traffic management (ATM) system. This would help ANSPs to dynamically optimize flight routes and improve airspace management using real time data of the aircraft.

9. Flight Tracking System Market LeadingPlayers 2018: Rockwell Collins announced a strategic partnership with FlightAware to offer Aireon Space-Based ADS-B Flight Tracking system to business aviation operators. This partnership will help the company to cater the increasing demand. Company Profiles included in the flight system tracking market are: Honeywell International Inc. Aireon LLC Rockwell Collins (United Technology Corporation) Garmin, Ltd. Flyht Aerospace Solutions Ltd Spider Tracks Limited Skytrac Systems Ltd. Blue Sky Network

10. REGIONAL FRAMEWORK REGIONAL FRAMEWORK

11. MARKET SEGMENTATION Exhibit: MARKET SEGMENTATION

12. Flight Tracking System Market

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