Market Introduction
The North America aviation industry is witnessing significant growth due to increased number of international and domestic flights. This, in turn, is propelling the growth of the flight data monitoring market. Increasing number of aircraft generates the demand for advanced flight data monitoring (FDM) systems and services to improve operational safety of an aircraft. The importance of flight data monitoring is growing as modern aircraft come with connected systems, which require data collecting tools. Growing importance of data analytics in flight operations to enhance flight performance and safety is mounting the demand for flight data monitoring solutions. Flight data monitoring ensures operational safety by collecting the flight data during or post-flight. Further, increased safety standards and improved guidelines for aircraft fleet operators are enhancing the importance of flight data monitoring systems. Besides, increased use of automatic flight data monitoring solutions reduces maintenance cost and time with improved operational efficiency. There is an increase in demand for flight data monitoring systems from helicopter fleet operators due to their time saving and cost-saving benefits. Increasing aircraft fleet dictated the establishment of a flight data monitoring system for all aircraft types to improve efficiency, training modules, and safety; and reduce maintenance cost. Rapid development in flight data monitoring solution offerings, such as helicopter flight data monitoring systems and FDM services, are driving the market. Also, Rising demand for flight safety solutions is a major factor driving the North America flight data monitoring systems market.
The ongoing COVID-19 is having a very devastating impact across North America. The North American market suffered the huge economic loss in the first half of 2020 owing to the high number of COVID-19 cases, specifically in the US. The economic growth has lowered that delayed the ongoing projects of commercial and defense upgradation. The US is one of the major exporters of aircraft but owing to disrupted supply chain and lowering economic conditions of importing countries, the country is witnessing lower export revenue. Enhancing trade relation to support international supply post lockdown helped market to regain its position. The limiting strength of workforce due to physical distancing model hampered the production activities in country. The low demand for aircraft created severe impact on the aircraft manufacturing companies. For instance, Boeing company expected lower demand from market than their previous prediction amid COVID-19. In new report, the company predicted 11% drop in demand from its forecast a year ago. Such lowering demand and sale of aircraft has direct negative impact on the adoption of flight data monitoring systems and services, which hinders the growth of the flight data monitoring systems market in North America.
Market Overview and Dynamics
The flight data monitoring systems market in North America is expected to grow from US$ 1,311.56 million in 2020 to US$ 2,012.23 million by 2027; it is estimated to grow at a CAGR of 6.9% 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. Further, increasing ratio of fatal accidents registered by the USHST is supporting the adoption of HFDM systems to improve operational safety. For instance, the USHST strongly recommends HFDM in order to prevent fatal rotorcraft accidents triggered due to unintended instruments, meteorological conditions, loss of control inflight, and low altitude. According to the USHST, the FDM solution is benefiting helicopter operators to improve safety by collecting data of normal and off-nominal operations. Responding to the need for operational safety, leading market players are introducing advanced HFDM solutions for helicopter fleet operators. Also, New product development and adoption from leading aircraft manufacturers is creating a lucrative opportunity for the market.
Key Market Segments
The North America flight data monitoring systems market is segmented based on component, solution type, end user. Based on component, the North America market is segmented into hardware, software, and service. Hardware segment held the largest market share in 2020. Based on solution type, the North America 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 North America 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.; Guardian Mobility; Honeywell International Inc.; L3Harris Technologies Inc.; Safran Electronics & Defense; Scaled Analytics Inc.; Skytrac Systems Ltd.; and Teledyne Controls LLC.
Reasons to buy report
North America Flight Data Monitoring Systems Market Segmentation
North America Flight Data Monitoring Systems Market - By Component
North America Flight Data Monitoring Systems Market - By Solution Type
North America Flight Data Monitoring Systems Market – By End User
North America Flight Data Monitoring Systems Market - By Country
North America Flight Data Monitoring Systems Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 1,311.56 Million |
| Market Size by 2027 | US$ 2,012.23 Million |
| CAGR (2020 - 2027) | 6.9% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Flight Data Monitoring Systems Market is valued at US$ 1,311.56 Million in 2020, it is projected to reach US$ 2,012.23 Million by 2027.
As per our report North America Flight Data Monitoring Systems Market, the market size is valued at US$ 1,311.56 Million in 2020, projecting it to reach US$ 2,012.23 Million by 2027. This translates to a CAGR of approximately 6.9% during the forecast period.
The North America 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 North America Flight Data Monitoring Systems Market report:
The North America 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 North America Flight Data Monitoring Systems Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Flight Data Monitoring Systems Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For North America Flight Data Monitoring Systems Market
