Dallas, Texas, May 26, 2021 (GLOBE NEWSWIRE) -- The “Global Flight Data Analysis System Market Size 2018, by Application (Fixed Wing, Rotary Wing, and Others), Region and Forecast 2019 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
Rising need for aircraft monitoring through real time tracking and analysis to boost crew performance and traffic control methods to surge the global flight data monitoring market.
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The global flight data analysis market is currently witnessing rapid growth, and is projected to rise with a CAGR of 6.3% throughout the forecast period, 2019 to 2025. The global market will overcome a market revenue of USD 4.0 billion by 2025. Increase in the number of aircrafts deliveries had led to situational awareness to track the data related to flaws in aircraft operations so as to enhance the flight crew performance and aircraft operator’s safety management system. However, at times, this also acts as a challenge for the aviation community as it gets tougher to manage vast data. However, cost-effective maintenance and increase in asset utilization is anticipated to uplift the demand for flight data analysis. Furthermore, lack of expertise and clearance issue for various certified programs is the key restraint holding the market growth.
Global flight data analysis system market report covers an extensive analysis of the leading market trends, with data from 2014 to 2017, estimates for 2018 and projections from 2019 to 2025. Flight data analysis and monitoring elaborates the data processing techniques used to identify better clarity by analyzing real time data of flight altitude, positioning, speed and pitch. Industry dynamics such as drivers, restraints, opportunities and challenges have been widely covered for the flight data monitoring and analysis and deeply analyzed in the research study.
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Socioeconomic changes in the emerging economies such as China and India is the key driver for the growth in GDP and the demand for air travel. The number of air passengers is growing in India and China. India is emerging as potential high-growth economy and shown 20% passenger growth in the Indian domestic airline market. Furthermore, India is anticipated to become the principal commercial flying market by the end of 2020.
Based on the application of the flight data analysis systems, the fixed wing aircraft held the largest share, rising with a CAGR of 6.4% from 2019 to 2025. Fixed wing aircrafts have a large seating capacity and carry heavy loads of up to 27,000 kg in comparison to rotary wing aircrafts. Also, the flight data monitoring analysis has been necessitated for aircrafts with maximum take-off mass; this is expected to drive the growth of flight data analysis system market throughout the future.
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Geographically, Europe held a market revenue of USD 799.5 Mn in 2018 in the global flight data analysis system market. Industrial competition is becoming extremely fierce among established incumbents such as the U.S. and upcoming new challengers, such as Brazil, Russia, China and India. Regions such as the Middle East and Asia Pacific have emerged as the strong competitors for aircraft infrastructure services and account for significant share in the flight data analysis system market size. The middle class population in these countries are burgeoning as well, expanding from a combined 100 million in 2007 to more than 400 million in 2017. In the next 10 years, another 300 million people are expected to enter the middle class in these economies. These changes are determinant for the increasing air travel demand, because as people enter the middle class, their propensity to travel increases dramatically.
With the increase in the passenger traffic, the demand for passenger security is also increasing. Pressure on the aviation community to achieve safety improvement is another driver for the application of flight data management (FDM) in the fixed and rotary wing aircrafts.
Global flight data analysis systems market is witnessing stern competition due to the presence of small as well as large players in the global market. However the major chunk of the market share is captured by the few players such as NAVBLUE, Teledyne Controls, Inc., Safran, Skytrac Systems, Ltd., and Honeywell Inc. Launch of new products, investments, partnerships and innovations were some of the major strategies implemented by the key players in the industry. NAVBLUE has a strong presence, product portfolio and distribution network in the global market. The company is also focusing on research and development and product innovation strategies.
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Major Points from Table of Contents:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Market Overview, By Application
Chapter 5. Market Overview, By Region
Chapter 6. Company Profiles
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