The revolutionary advances made in-flight tracking systems have gained momentum in the recent years due to the development of better tools and rising levels of airline traffic. Moreover, the need for full visibility in terms of aviation traffic due to the inherent security and scheduling conflicts has raised the demand for flight tracking systems considerably.
The Industryis projected to gross revenues worth USD 562.5 Million while expanding at a 6.07% CAGR during the forecast period from 2018 to 2023.
As the air passenger traffic has been growing at a momentous pace due the factors such as decreasing airline fares; growing per capita disposable pay particularly in emerging countries together with sophisticated living standards will boost the adoption of flight tracking systems in the aviation industry following the demand surge. The rising adoption of Automatic Dependent Surveillance-broadcast (ADS-B) flight tracking system which is essential in the collection of data in real-time from the aircrafts and make it available to ground operators, as well as pilots, is also expected to increase the Industryshare in the upcoming years.
The noteworthy surge in demand for flight tracking system stemming from developing economies, such as India, China, Saudi Arabia, due to the growing number of orders for aircraft with advanced safety systems will also positively reinforce the market’s expansion in the forecast period. The demand for flight tracking service is projected to multiply in the upcoming future as new aircrafts would be equipped with advanced safety systems that can enable effective flight tracking. Moreover, the technological improvements and enhanced software in this Industrywill result in advanced development in flight tracking systems, which will perceive substantial growth in the upcoming forecast period.
Segmental Analysis
The flight tracking system Industryglobally is segmented on the basis of type, aircraft type, and end-user. The Industryhas been divided into following segments such as ADS-B, ACARS, and FANS. The ADS-B Industryis the leading segment in the market. The Industryhas been segmented into the following aircraft types such as rotary wing and fixed wing. The fixed-wing segment is leading the Industryin this segment. The Industryhas been divided into the end-user segments such as military and commercial. The commercial segment is projected to be the largest segment on the end user basis.
Detailed Regional Analysis
The North American region is responsible for a major Industryshare of 40.79 percent in 2017, with a Industryworth of USD 162 million and is expected to expand at an incremental CAGR of 6.11 percent during the forecast period. The North American region is expected to grow extraordinarily on the flight tracking system front. The region has observed extensive investments by airline companies, in a bid to raise the safety of their respective aircrafts. The European region has been identified as the next major Industryin 2016, evaluated at USD 99.8 million in 2017 and is likely to expand at a CAGR of 5.86 percent. The EASA (European Aviation Safety Agency) mandate for ADS-B in Europe is anticipated to bear a positive influence on the Industrygrowth. The Asia Pacific region is accredited with the most rapidly increasing Industryand held a share of 22.99 percent in 2016, with a Industryworth of USD 90.8 million and is anticipated to expand at a CAGR of 6.76 percent during the forecast period. The APAC region is a chief Industryfor the flight tracking systems due to amplified investments for consolidating the air-to-ground data communication abilities.
Competitive Analysis
The development of the Industryvendors is reliant on the Industrycircumstances, government backing, and industry progress. As a result of which their focus is on refining their products and expanding organically. Though the leading players are leading the Industryowing to their extensive industry knowledge, new product developments, and geographic spread, other players, as well as the established ones and regional ones, are dynamically adding to the Industrydemand. Aireon, AirNav Systems LLC, Rockwell Collins, ACR Electronics Inc., Blue Sky Network, Garmin Ltd., SITA, Honeywell International Inc., FLYHT Aerospace Solutions Ltd. (FLYHT), and Spider Tracks Limited.
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