Flight Tracking System Market study by “The Insight Partners” provides details about the market dynamics affecting the market, scope, segmentation and
Flight Tracking System Market study by “The Insight Partners” provides details about the market dynamics affecting the market, scope, segmentation and overlays shadow upon the leading players highlighting the favorable competitive landscape and trends prevailing over the years.
The global flight tracking system market accounted to US$ 342.0 Mn in 2018 and is expected to grow at a CAGR of 5.6% during the forecast period 2021 – 2027, to account to US$ 549.7 Mn by 2027.
As per IATA (International Air Transport Association) number of passengers travelling by air is expected to reach ~7.8 billion by 2036. This growth in the passengers travelling through airways is majorly influenced by the rapidly emerging middle class segment in developing economies. Exponentially burgeoning working group in the developing region has resulted in increased disposable income and freight traffic. The rise in air travel demand has subsequently resulted in increased production of commercial aircraft, which in response have significantly contributed to the growth of Flight Tracking System market. In the year 2014, after the case of the flight MH17 of Malaysian airlines, the concerns for enhancing the flight tracking system in commercial flight and management of air traffic system became extensively critical.
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This had led to reinvention of various regulations and emergence of various new initiatives by the global aviation agencies. The UN specialized agency ICAO had created the GADSS (Global Aeronautical Distress Safety System) the comprised of standards and Recommendation Practices (SARP), which described the expectation of airlines and aircraft operators with respect to aircraft tracking in normal conditions and also when the aircrafts are in distress. The normal flight tracking SARPs were applicable in the late 2018, these SARPs established the duties of an air operator in regards to tracking of its aircraft across its zone of operation. Whereas the SARP associated with tracking of aircrafts in distress is anticipated to be implied in January 2021. These SARPs focus on the requirements for automatically tracking the flight in distress with respect to its position updates once or more in a minute.
Not only had the regulatory bodies actively promoted the adoption of flight tracking systems, but some of the private airline companies also participated in the market activities to drive the adoption of flight tracking systems. Such as, the Qatar Airways sponsored to become the launch customer for Global Beacon flight tracking solution. The initiative was the result of partnership between Flight Aware and Aireon, and the product was deployed by the airline company across its operation system in order to comply with the ICAO GADSS surveillance. Furthermore, Flight Aware had also recently announced Iceland Air as its customer for its Firehose API (Application Program Interface). The API aims to provide a secured TCP (Transmission Control Protocol) based flight status data and streaming of flight positions using a combination of global air traffic control data, Mode S Multilateration (MLAT), ADS-B and aircraft data link information.
Major highlights of the Flight Tracking System Market report:
All-inclusive evaluation of the parent market
Evolution of significant market aspects
Industry-wide investigation of market segments
Assessment of market value and volume in past, present, and forecast years
Evaluation of market share
Tactical approaches of market leaders
Lucrative strategies to help companies strengthen their position in the market
Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Flight Tracking System Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.
Major key players covered in this Flight Tracking System Market report:
Honeywell International Inc., Aireon, Collins Aerospace, Garmin Ltd, FLYHT Aerospace Solutions Ltd., Spider Tracks Limited, SKYTRAC SYSTEMS LTD, Blue Sky Network
Flight Tracking System Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
Reason to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Flight Tracking System Market.
Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
The key findings and recommendations highlight crucial progressive industry trends in the Flight Tracking System Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
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