The Flight Inspection (FI) market is projected to reach USD 5.57 Billion by 2022, at a CAGR of 4.31% from 2017 to 2022
The growth of the market can be attributed to the increasing air passenger traffic across all the countries. The increasing air passenger traffic is leading to an increase in infrastructure development at existing airports and new airport developments across the globe.
The flight inspection market has been segmented based on solution, end user, and region. Among solutions, the system segment is projected to grow at the highest CAGR during the forecast period. It is also projected to lead the flight inspection market during the forecast period. The system segment is further subsegmented into fixed systems, mobile systems, and ground-based systems. Factors such as the increasing number of new airport development programs and increasing spending by emerging economies on airport infrastructure are the factors driving the growth of the flight inspection market.
Based on end user, the flight inspection market has been segmented into commercial and defense airports. The defense airports segment is projected to lead the market during the forecast period owing to the increasing number of tactical forward airbases and defense airports due to the increase in the spending on military infrastructure.
The Americas accounted for the largest share of the FI market in 2017, followed by Europe and Asia Pacific. The largest share of the Americas is attributed to increasing passenger traffic in countries such as Mexico and Brazil and the development and modernization of airports in the US and Canada. In Americas, the US is leading the overall market in the region. The reason for the dominance of the US in this market is predominantly due to the airport expansion programs and presence of flight inspection system manufacturers in the country.
The major challenges that the flight inspection service providers face are mostly related to the technical aspects of flight inspection procedures. At present, adapting to new procedure for validation & calibration of GPS enabled navigational procedures and in approach procedures for vertical guidance satellite based augmentation system (SBAS) is a challenge for the flight inspection service providers.
The major players in the flight inspection market are Textron (US), Bombardier (Canada), and Norwegian Special Mission (Norway). The manufacturers and service providers mostly adopted new product launches and penetration in emerging markets by acquiring long-term contracts in respective regions as their key growth strategies. Norwegian Special Mission (Norway) is the leading company in the flight inspection market.
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