The estimated size of the global market for flight data monitoring and analysis in 2021 was US$ 1.1 billion, and it is anticipated that by 2032, it would have grown by 8.6% CAGR to reach US$ 2.7 billion from US$ 1.2 billion. Due to factors such as a high need for situational awareness, a growth in aircraft deliveries, and an increase in the volume of data generated by the aviation industry, the market for flight data monitoring and analysis is anticipated to expand.
The FDMA market is driven by rising demand for software used to analyse flight data in the ground-based sector. Utilizing FDMA helped reduce maintenance costs, increase aircrew training, and improve fuel usage as well as accident fatalities.
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.
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- 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.
More Valuable Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the global flight data monitoring and analysis market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights By Aircraft Type (Fixed Wing, Rotary Type) By End-Use Vertical (Civil, Military) By Civil (Commercial Aviation, General Aviation) & By Region (North America, Europe, Asia Pacific, Middle East, and Africa, Latin America
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