Market Introduction
The European region consists of Germany, France, the UK, Italy, Russia, and the Rest of Europe. The region is recognized as the world’s busiest airspace. Similar to North America, air travel is the most preferred mode of transportation in the region for international and domestic transportation. Robust economy and high individual disposable incomes in the region lay a strong platform for business in the aerospace industry. This is further promoting commercial aircraft production, thereby accelerating the growth of the flight data monitoring systems market. According to the Commission Regulation of the European Union, flight data monitoring is the proactive use of digital flight data from routine operations to enhance aviation safety. Flight data monitoring is the main data source for monitoring the operational safety level. In the region, the flight data monitoring program is obligatory for aircraft with a maximum certificated take-off mass of 27,000 kg operated for commercial air transport. Airbus, Cobham Plc, Dassault Aviation, Leonardo DRS, and Thales Group are among the leading aircraft and aircraft component manufacturers present in Europe. The presence of such leading players has paved the growth path for military and civil aircraft. Presence of various aircraft manufacturers in the region is one of the key driving factors for the flight data monitoring systems market. Moreover, rising air travel and increasing government budgets for aircraft have significantly boosted the revenue stream of flight data monitoring systems market players operating in Europe.
The Europe flight data monitoring systems market witnessed decline in the market growth at the first half of 2020 due to COVID-19 outbreak. Countries such as Russia, France, Spain, the UK, and others recorded major count of confirmed cases on daily basis; thus, those countries imposed lockdown. The flights were suspended for longer period in the first half of 2020, which lowered the demand for flight data monitoring systems. Several countries also stopped their production activities in the aircraft industry, which further lowered the market growth. For instance, 668 infected persons are found on the French aircraft carrier Charles de Gaulle. As a result, the facility cannot function without proper staff the operations are either being stopped or carried out with limited force. In addition, a new strain of coronavirus that causes COVID-19 has found in the UK, which spreads at faster rate than previous strain. The crisis has initiated shutdown of air connectivity across the UK and other European countries. The Europe is third largest region in terms of demand for airplanes, which might help the market to recover after pandemic but in current scenario the demand for services and systems in the region is experiencing major decline. Still companies operating in the region are managing to offer flight data monitoring systems solution for domestic and global level but not as per the expected target. Also, the use of robots, data analytics, connected systems, and other advanced tools and software for improved flight performance has emerged owing to the outbreak, which might grab stronger share in the forecast period.
Market Overview and Dynamics
The flight data monitoring systems market in Europe is expected to grow from US$ 932.68 million in 2020 to US$ 1,544.42 million by 2027; it is estimated to grow at a CAGR of 8.2% from 2020 to 2027. The demand for operational safety is surging in the rotary-wing aircraft sector, specifically for helicopters used in public and private services. To meet this emerging demand, market players are introducing advanced helicopter flight data monitoring (HFDM) systems and services. Responding to the need for operational safety, leading market players are introducing advanced HFDM solutions for helicopter fleet operators. In March 2019, Airbus Helicopters introduced new Flight Analyser helicopter flight data monitoring (HFDM) solution to support operational safety in aircraft. The post-flight data analysis done by the HFDM solution identifies the risk and takes preventive action before they lead to incidents. New product development and adoption from leading aircraft manufacturers is creating a lucrative opportunity for the market.
Key Market Segments
The Europe flight data monitoring systems market is segmented based on component, solution type, end user. Based on component, the Europe market is segmented into hardware, software, and service. Hardware segment held the largest market share in 2020. Based on solution type, the Europe 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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the flight data monitoring systems market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Appareo; Curtiss-Wright Corporation; FLYHT Aerospace Solutions Ltd.; Honeywell International Inc.; L3Harris Technologies Inc.; Safran Electronics & Defense; and Teledyne Controls LLC.
Reasons to buy report
Europe Flight Data Monitoring Systems Market Segmentation
Europe Flight Data Monitoring Systems Market - By Component
Europe Flight Data Monitoring Systems Market - By Solution Type
Europe Flight Data Monitoring Systems Market – By End User
Europe Flight Data Monitoring Systems Market - By Country
Europe Flight Data Monitoring Systems Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 932.68 Million |
| Market Size by 2027 | US$ 1,544.42 Million |
| CAGR (2020 - 2027) | 8.2% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Flight Data Monitoring Systems Market is valued at US$ 932.68 Million in 2020, it is projected to reach US$ 1,544.42 Million by 2027.
As per our report Europe Flight Data Monitoring Systems Market, the market size is valued at US$ 932.68 Million in 2020, projecting it to reach US$ 1,544.42 Million by 2027. This translates to a CAGR of approximately 8.2% during the forecast period.
The Europe Flight Data Monitoring Systems Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Flight Data Monitoring Systems Market report:
The Europe Flight Data Monitoring Systems Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Flight Data Monitoring Systems Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Flight Data Monitoring Systems Market value chain can benefit from the information contained in a comprehensive market report.
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