The global flight data monitoring and analysis market is projected to grow from US$ 1.1 Bn in 2021 to US$ 1.2 Bn by 2022. The market is expected to reach US$ 2.7 Bn by 2032 while recording a CAGR of 8.6% during the forecast period from 2022 to 2032.
Growing demand for software to analyze flight data in the ground-based market drives the FDMA market. By utilizing FDMA, fuel consumption was improved, accident fatalities were decreased, maintenance costs were minimized, and aircrew training was enhanced.
Modern aircraft systems integrate software to boost performance, safety, and reduce maintenance costs. A growing number of data security concerns, along with an increasing number of blockchain systems and artificial intelligence and machine learning projects, are driving FDMA market growth.
FDMA has seen a further increase in market growth due to an increase in the demand for reducing fight accidents in order to save either material losses or insurance costs in the fight industry.
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Key Takeaways:
- The global flight data monitoring and analysis market is currently valued at US$ 2.7 Bn, with a CAGR of 8.6% during the forecast period.
- Japan is expected to record a CAGR of 11.4% between 2022 and 2032.
- Civil flight data monitoring and analysis segment will grow at a CAGR of 9% during the forecast period
- In China, the market is expected to reach US$ 35.4 million by the end of 2032 the forecast period.
- The Brazilian market recorded a CAGR of 7.9% during the forecast period.
Competitive Landscape
Key Players that have been profiled in the report are Flight Data Services Ltd., Scaled Analytics Inc., Aerobytes Ltd, Curtiss-Wright Corporation, Teledyne Controls. LLC. Developing innovative products and technology will allow customers to get the most out of new technologies.
- In September 2021, FLYHT Aerospace Solutions Ltd. announced the acquisition of the Water Vapor Sensing System product line from SpectraSensors Inc. A license for SpectraSensors’ TDLAS technology, for use in the weather and aviation markets, is included in the acquisition, along with manufacturing assets, inventory, and aviation-specific intellectual property.
- Acrouzet and Safran Electronics & Defense have joined forces under the European program to foster innovation in aeronautics to develop a new mini-control grip that will meet both the current and future needs of fixed-wing and rotorcraft pilots. The firm has developed a demonstrator and completed tests and delivered the prototype to Safran Electronics & Defense in November 2021. The new technology will assist pilots in knowing what to do in an emergency situation so they can take the appropriate action.
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