Flight Tracking System Marketembed
Global Flight Tracking System Market by Type (Automatic Dependent Surveillance-Broadcast (ADS-B), Aircraft Communications Addressing and Reporting System (ACARS), Future Air Navigation System (FANS)), by Aircraft Type (Fixed-Wing, Rotary-Wing), by E
Flight Tracking System Market Research Report - Global Forecast to 2023 Flight Tracking System Market Research Report - Global Forecast to 2023 P a g e |1 Copyright © 2017 Market Research Future. Flight Tracking System Market Research Report - Global Forecast to 2023 VIEW REPORT PRESS RELEASE SAMPLE REPORT P a g e |2 Copyright © 2017 Market Research Future. Flight Tracking System Market Research Report - Global Forecast to 2023 Summary: The global flight tracking system market is all set to scale USD 562.5 million by 2023 with a substantial 6.07% CAGR during the forecast period (2018-2023) Market Overview: Travel management system has become of utmost importance with growing expenditure in travels plans and hence, the flight tracking system is gaining precedence. The technological assistance in getting real-time data is providing substantial thrust to the flight tracking system industry. Accurate knowledge about flight positions is also needed for better safety measures. The global flight tracking system market is gaining much from the soaring demand for passenger safety. Domestic passengers number have increased owing to the drop in travel fare which is further ensuring surge in demand for the flight tracking system industry. Integration of Automatic Dependent Surveillance-Broadcast (ADS-B) flight tracking system is also expected to boost the flight tracking system market. However, the initial cost of installation is quite high owing to which the flight tracking system market growth could slacken. P a g e |3 Copyright © 2017 Market Research Future. Flight Tracking System Market Research Report - Global Forecast to 2023 Segmentation: The global flight tracking system market, as per the report published by MRFR, has been segmented by type, aircraft type, and end-user. This segmentation would give a better peek into the industry and assessment of it both value-wise and volume-wise. Based on the type, the flight tracking system market comprises ADS-B, ACARS, and FANS. The ADS-B segment owns the maximum portion of market share. It is getting driven by effective situational awareness, rising demand for safety and efficiency of air & ground operations, coverage redundancy, in terms of separation, and easy obtaining of surveillance data in non-radar areas. Based on the aircraft type, the flight tracking system market consists fixed-wing and rotary-wing. The fixed-wing segment has maximum market coverage and is touted to attain a CAGR of 6.50% over the review period. Its market intake is rising on its ability to provide real-time data streaming. By end-user, the flight tracking system market includes commercial and military. The commercial segment has the maximum market ownership. Both government and private initiatives from companies such as FAA (Federal Aviation Administration), ICAO (International Civil Aviation Organization), and EASA (European Aviation Safety Agency), to get exact news of flight location in cases of emergency are backing up the market with muchdeserved thrust. Regional Analysis: MRFR segments the flight tracking system market, on a region-specific ground, into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA). This type of analysis would be much better suited for regarding areas where investments could turn into fortune. Several factors such as the market liberalization, economic surge, and evolution of effective business models are making the APAC region a place to invest in. With time, this has emerged as one of the biggest markets for the aviation industry. Its revenue can climb with a 6.76% CAGR during the forecast period from its market valuation of USD 90.8 Million in 2016. Countries such as Japan, China, and India are leading the regional market with governments taking significant stand. In 2017, North America accounted for 40.79% share of the market with a valuation of 162 million which branded the region as market leader. Infrastructural supremacy has allowed the region to innovate and experiment which gave them an edge over their peers. At the same time, the presence of several market giants is helping the region in expanding its market. In addition, the region is witnessing no shortage of investment owing to which its future is quite chalked out. The regional market could carry on with a CAGR of 6.11% during the forecast period. P a g e |4 Copyright © 2017 Market Research Future. Flight Tracking System Market Research Report - Global Forecast to 2023 Competitive Dashboard: Several companies are getting involved in this global flight tracking system market. MRFR profiled a few to a get a comprehensive overview of the entire market. Their enlisted companies are AirNav Systems LLC, Honeywell International Inc., FLYHT Aerospace Solutions Ltd. (FLYHT), ACR Electronics Inc., Blue Sky Network, Garmin Ltd., Rockwell Collins, SITA, Aireon, and Spider Tracks Limited. These companies often employ strategic moves for their individual gains but, in the process, takes the whole market ahead. Industry/ Innovation/ Related News: In 2019, Malta launched their new airport management system with the help of SITA that would help in relaying information regarding flight status to passengers in a better and effective way. The system has a centralized dashboard with inputs from several modules which would minimize human error. P a g e |5 Copyright © 2017 Market Research Future. Flight Tracking System Market Research Report - Global Forecast to 2023 P a g e |6 Copyright © 2017 Market Research Future.