Report : Asia Pacific Flight Data Monitoring Systems Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component (Hardware, Software, and Services), Solution Type (On Board and Ground), and End User (Fleet Operators, Drone Operators, and Investigation Agencies)
On Board Segment to Dominate APAC Flight Data Monitoring Systems Market during 2020–2027
According to a new market research study on “APAC Flight Data Monitoring Systems Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component, Solution Type, and End User” is expected to reach US$ 1,252.96 million by 2027 from US$ 708.20 million in 2020. The market is estimated to grow at a CAGR of 9.5% from 2020 to 2027. The report provides trends prevailing in the APAC flight data monitoring systems market along with the drivers and restraints pertaining to the market growth. Helicopter flight data monitoring (HFDM) systems is witnessing high demand, and this is the major factor driving the growth of the APAC flight data monitoring systems market. However, issues associated with expensive flight data monitoring systems and accessibility of alternative solutions hinders the growth of APAC flight data monitoring systems market.
The APAC flight data monitoring systems market is segmented based on component, solution type, end user. Based on component, the APAC market is segmented into hardware, software, and service. Hardware segment held the largest market share in 2020. Based on solution type, the APAC market is segmented into on-board and ground. On board segment held the largest market share in 2020. In terms of end user, the market is segmented into fleet operators, drone operators, and investigation agencies. Fleet operators segment held the largest market share in 2020.
The COVID-19 outbreak has adversely affected several countries in APAC such as South Korea, and India. A few countries such as China, India, South Korea, and Japan are increasingly moving toward the advancement of the commercial and defense aircraft industry. Further, countries such as China and Japan increased their aircraft fleet owing to rising domestic and international flights. These countries is upgrading their flight data monitoring systems operations by adopting new systems and services for aircraft. The governments of various countries also supported the smaller local air carriers to mitigate the outbreak of COVID-19, which helped market to sustain the growth. For instance, the government of South Korea announced the financial support of up to US$ 269 million for smaller local air carriers. In addition, the government also provided the US$ 2.7 billion support to Asiana Airlines and Korean Air to stabilize the liquidity of both airlines. Thus COVID-19 is having adverse impact on APAC region for the flight data monitoring systems market.
Curtiss-Wright Corporation; FLYHT Aerospace Solutions Ltd.; Honeywell International Inc.; L3Harris Technologies Inc.; Safran Electronics & Defense; and Teledyne Controls LLC are among the leading companies in the APAC flight data monitoring systems market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Honeywell introduced a new enhanced version of the mission engagement system and flight data monitoring systems.
The report segments the APAC Flight Data Monitoring Systems Market follows:
APAC Flight Data Monitoring Systems Market – By Component
- Hardware
- Software
- Services
APAC Flight Data Monitoring Systems Market – By Solution Type
- On Board
- Ground
APAC Flight Data Monitoring Systems Market – By End User
- Fleet Operators
- Drone Operators
- Investigation Agencies
APAC Flight Data Monitoring Systems Market – By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
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