The global flight tracking system market accounted to US$ 342.0 Mn in 2018 and is expected to grow at a CAGR of 5.6% during the forecast period 2019 - 2027, to account to US$ 549.7 Mn by 2027.
North America was the leading geographic market and it is anticipated to be the highest revenue contributor throughout the forecast period. Significant investments in the aerospace sector by Governments in the developed nations of US and Canada, is expected to fuel flight tracking system market in this region.
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The key players influencing the market are:
1. Honeywell International Inc.
2. Aireon LLC
3. Rockwell Collins (United Technology Corporation)
4.
5. Flyht Aerospace Solutions Ltd
6. Spider Tracks Limited
7. Skytrac Systems Ltd.
8. Blue Sky Network
This report contains:
- · Market sizing for the global Flight Tracking System Market.
- · Compare major Flight Tracking System providers strategies and approaches to the challenges they face
- · Analysis of the effects deglobalisation trends may have for Flight Tracking System providers
- · Profiles of major Flight Tracking System providers
- · 5-year CAGR forecasts for Flight Tracking System -intensive vertical sectors
Market Insights
Rising flight traffic to contribute to increased demand for new aircrafts
As per IATA (International Air Transport Association) number of passengers travelling by air is expected to reach ~7.8 billion by 2036. This growth in the passengers travelling through airways is majorly influenced by the rapidly emerging middle class segment in developing economies.
Exponentially burgeoning working group in the developing region has resulted in increased disposable income and freight traffic. Majority of the rising middle class was witnessed in China and India (as described by United Nations).
Furthermore, as the world continue to recover from pervious economic contractions, the demand of air travel is projected to vary widely.
Government initiated programs and initiatives to drive the overall growth in flight tracking system market
Recently in January 2019, Aviation Communications & Surveillance Systems, LLC (ACSS) announced the delivery of 10,000th production of its NXY mode-S transponder family. This in response has resulted in directives from the EASA and FAA to mandate the implementation of ADS-B to the aircrafts.
The directive was the result of capabilities provided by ACSS, which is a joint venture between Thales and L3. The company offers products that facilitate the commercial, business and military aircrafts with the capability to operate in ADS-B airspace.
Having achieve the benchmark of 10,000th NXT unit the market is projected to witness new aircrafts equipped with ADS-B out by early 2020.
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System Insights
The global flight tracking system market by system was led by ADS-B segment. The other systems for flight tracking market include FANS, ACARS, and PFTS.
Automatic Dependent Surveillance-Broadcast (ADS-B) is among the advance surveillance technology available that is used for tracking aircraft. As per the technology the aircraft defines its own position through satellite navigation and broadcasts position reports within fixed intervals.
End Use Insights
The flight tracking system market by end use is segmented into commercial and military sectors. Liberalization of the aviation system has achieved a noteworthy progress over the years, derived by the emergence of robust and competitive airports and carriers that are thriving to become more user-friendly, sustain the growth of air traffic, optimize air space and improve connectivity amid nations and regions.
The liberalization has further enabled improvised choices resulting in competitive public travelling prices.
Strategic Insights
The market players present in flight tracking system market are mainly focusing towards product enhancements by implementing advance technologies. By signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world permit the company maintain its brand name globally.
Most of the market initiative were observed in Asia Pacific, North America, Europe regions, which have high density of flight tracking related solutions. Few of the recent developments are listed below:
2018: Honeywell announced partnership with FlightAware for flight tracking. The partnership is aimed to provide advanced flight tracking support to business jet owners and operations control center.
2018: Aerion and Leonardo a helicopter manufacturer signed a Memorandum of Understanding (MOU). According to the agreement Leonardo would integrate Aerion’s ADS-B into its LeadInSky air traffic management (ATM) system.
This would help ANSPs to dynamically optimize flight routes and improve airspace management using real time data of the aircraft.
2018: Rockwell Collins announced a strategic partnership with FlightAware to offer Aireon Space-Based ADS-B Flight Tracking system to business aviation operators. This partnership will help the company to cater the increasing demand.
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