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 North America aviation sector is experiencing significant growth in air traffic volume in terms of passenger count and aircraft fleet. This is mainly due to increase in business and leisure travel because of higher disposable income. In addition to passenger air travel, the cargo air fleet volume is consistently rising in developed countries.
The constantly growing aircraft fleet volume year-on-year has been leading the aircraft operators to invest in in-flight data monitoring systems. The fleet operators are increasingly accelerating the procurement of flight data monitoring systems and software. FDM systems collect the occurrence data of the flight for fleet operators that helps identify and assess the risk.
The collected information is benefiting operators in managing operations, fuel efficiency, risk management, and adherence to standard operating procedures. The quality assurance personnel and maintenance technicians are using the FDM to enhance safety and operational efficiency while managing the fleet. Ensuring safety in flight has utmost importance in the aviation industry owing to which the demand for FDM is surging with increasing aircraft deliveries.
The FDM market growth can be attributed to increasing air traffic in developing economies, rising production of commercial aircraft, and increasing use of data analytics in flight operations. The biggest giants in the aerospace industry, such as Airbus and Boeing, are substantially involved in the production of commercial aircraft. They design, manufacture, and sell commercial aircraft along with fleet support services, primarily to the commercial airline industry worldwide.
Rising inclination toward flight safety operations, increasing number of flight data monitoring system and service providers, and surging aircraft fleet volumes are the key factors boosting the growth of the North America flight data monitoring systems market. Additionally, rising demand for light safety solutions is among the other factors expected to fuel the demand for flight data monitoring systems in North America.
The modern-day aircraft fleet are integrated with various hardware, such as flight data recorder and flight data acquisition unit. To record flight data, the fleet operators, drone operators, and investigation agencies require the flight data recorder, which includes rugged mission recorder, cockpit video recorder, engine-monitoring recorder, and quick access data recorders. Several data recorders offer swift and easy access to a removable medium and can record ~2,000 parameters, which is precise and accessible for ground analysis.
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 are among the key players operating in the market.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. North America Flight Data Monitoring Systems Market Landscape 4.1 Market Overview 4.2 Porter's Five Forces Analysis 4.3 Ecosystem Analysis
5. North America Flight Data Monitoring Systems Market - Key Market Dynamics 5.1 Market Drivers 5.1.1 Rising Demand for Flight Safety Solutions 5.1.2 Growing Number of Aircraft Deliveries 5.2 Market Restraints 5.2.1 Expensive Flight Data Monitoring Systems and Availability of Alternative Solutions 5.3 Market Opportunities 5.3.1 Increasing Need for Helicopter Flight Data Monitoring (HFDM) Systems 5.4 Future Trends 5.4.1 Significant Increase in Offering of Flight Data Monitoring Services 5.5 Impact Analysis of Drivers and Restraints
6. Flight Data Monitoring Systems Market - North America Analysis 6.1 Overview 6.2 North America Flight Data Monitoring Systems Market - Revenue and Forecast to 2027 (US$ Million)
7. North America Flight Data Monitoring Systems Market Analysis - By Component 7.1 Overview 7.2 North America Flight Data Monitoring Systems Market, By Component (2020 and 2027) 7.3 Hardware 7.4 Software 7.5 Services
8. North America Flight Data Monitoring Systems Market Analysis - By Solution Type 8.1 Overview 8.2 North America Flight Data Monitoring Systems Market, By Solution Type (2020 and 2027) 8.3 On board 8.4 Ground
9. North America Flight Data Monitoring Systems Market Analysis - By End User 9.1 Overview 9.2 North America Flight Data Monitoring Systems Market, By End User (2020 and 2027) 9.3 Fleet Operators 9.4 Drone Operators 9.5 Investigation Agencies
10. North America Flight Data Monitoring Systems Market - Country Analysis 10.1 Overview
11. North America Flight Data Monitoring Systems Market - COVID-19 Impact Analysis 11.1 North America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape 12.1 Overview 12.2 Market Initiative 12.3 New Product Development 12.4 Partnership
13. Company Profiles 13.1 Key Facts 13.2 Business Description 13.3 Products and Services 13.4 Financial Overview 13.5 SWOT Analysis 13.6 Key Developments