PUNE, India, December 11, 2017 /PRNewswire/ --
According to the new research report "Flight Inspection (FI) Market by Solution (System, & Services), End User (Commercial Airports, Defense Airports), Services Type (Commissioning, Routine, Special Inspection), System Type (Fixed, Mobile, Ground-based) and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow from an estimated USD 4.51 Billion in 2017 to USD 5.57 Billion by 2022, at a CAGR of 4.31% during the forecast period. Increasing spending on existing airport infrastructure improvement, new airport developments, and rise in flight inspection and calibration operations are expected to drive the flight inspection market during the forecast period.
Browse 66 market data Tables and 40 Figures spread through 101 Pages and in-depth TOC on "Flight Inspection (FI) Market"
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Based on solution, the service segment is estimated to lead the flight inspection market during the forecast period.
Flight inspection services are mandatory for any airport and require two routine inspections annually and commissioning inspection at the time of commissioning of navigational aids. As the market for routine and commissioning activities increases, the demand for FI services is expected to increase. These factors are expected to drive the market for FI services during the forecast period.
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Based on end user, the defense airport segment is projected to grow at the highest CAGR during the forecast period.
Due to the increasing defense budgets of emerging economies, the spending on military infrastructure is increasing. With increasing defense budgets, the modernization and development of defense airports as well as the demand for defense airports for strategic purposes is increasing.
The Asia Pacific flight inspection market is estimated to grow at the highest CAGR during the forecast period.
The flight inspection market in Asia Pacific is projected to grow at the highest CAGR during the forecast period, due to the increasing air passenger traffic in the county. The Americas is expected to account for the largest share of the flight inspection market in 2017 and this trend is expected to continue throughout the forecast period. The increasing number of new airport development programs is expected to drive the flight inspection market in the coming years.
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Some of the major players in the FI market are Textron (US), Bombardier (Canada), and Norwegian Special Mission (Norway).
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