Flight Data Monitoring Market: Grow with a High CAGR- Global Industry Analysis, Key Manufacturers, Trends, Size, and Forecast: 2022-2031

Japan, Japan, Thu, 31 Mar 2022 03:32:46 / Comserve Inc. / -- The flight data monitoring market is projected to register a CAGR of more than 3% during the forecast period.

The flight data monitoring market is projected to register a CAGR of more than 3% during the forecast period.

- The procurement of new commercial aircraft, fueled by the expansion plans of the airlines, as well as orders and deliveries of military aircraft during the forecast period, is anticipated to generate demand for new flight data monitoring systems in the coming years.
- The demand for efficient operations and the need to reduce the unscheduled maintenance cost for the airlines will generate demand for flight data monitoring services during the forecast period.

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Key Market Trends

On-board Segment Dominates the Market in terms of Share

The on-board segment currently dominates the market ,and it is expected to continue its dominance during the forecast period. This is majorly due to the increasing procurement of new aircraft in commercial and military sectors. As of April 2020, Airbus had 7,645 aircraft on the backlog, with more than 80% of these orders for A320 Family aircraft. A350XWBs and A220s account for approximately 14% of the order backlog. The planned aircraft deliveries of new aircraft programs like Boeing 777X, COMAC C919, and MC-21 in the coming years is anticipated to further propel the demand for commercial aircraft flight data monitoring systems. Also, the increasing demand for commercial helicopters for various applications like search and rescue operations and private transport among others are generating demand for rotary-wing FDM systems. Military aircraft like Eurofighter Typhoon, Lockheed Martin F-35 Lightning II, A-400M, etc., also have planned deliveries in Europe, Asia-Pacific, and Middle-East and Africa regions in the coming years, which are expected to accelerate the demand for on-board FDM during the forecast period.

Asia-Pacific is Expected to Generate the Highest Growth Rate During the Forecast Period

The Asia-Pacific region is anticipated to register the highest CAGR during the forecast period, mainly due to new aircraft deliveries to airlines as well as to the armed forces of major countries, like China, India, Japan, and South Korea, among others, during the forecast period. Also, according to the Boeing forecast, Asia-Pacific will account for about 40% of the new aircraft deliveries over the next two decades. This will simultaneously increase the demand for flight data monitoring systems. Also, the increasing fleet of aircraft is generating the demand for flight data monitoring services. Earlier in 2015, AirAsia signed an agreement with FLYHT for installing original hardware and service on additional 100 aircraft. AirAsia is one of the largest customers of FLYHT Aerospace Solutions Ltd. The aforementioned factors are anticipated to propel the growth of the market in the region.

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Competitive Landscape

The flight data monitoring market is fragmented with many players providing FDM services and systems (including software and hardware) to the aircraft. Some of the prominent players in the market of flight data monitoring are L3Harris Technology Inc, Safran SA, Teledyne Technologies Incorporated, Curtiss-Wright Corporation, and FLYHT Aerospace Solutions Ltd. Curtiss-Wright Corporation provides FDM components in Airbus A400M, Embraer C-390 Millennium, and Kamov Ka-60 among other aircraft programs, whereas Teledyne Technologies Incorporated provides FDM for Airbus A320, Airbus A330, Boeing 737, Boeing 777, and Sukhoi SuperJet 100 aircraft programs. Safran SA, FLYHT Aerospace Solutions Ltd., and L3Harris Technology Inc provides FDM services to airlines and aircraft operators. The development of new aircraft programs, as well as contracts of FDM services from airlines, approved MROs, and military organizations are anticipated to offer new opportunities for the market players to increase their market presence around the globe.

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