Latest market study on “Flight Tracking System Market to 2027 by System (ADS-B, FANS, ACARS, and PFTS); and End-use (Commercial and Military) – Global Analysis and Forecast”, the flight tracking system market is estimated to reach US$ 549.7 Mn by 2027 from US$ 342.0 Mn in 2018. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
The global aerospace and defense industry in 2018 had recuperated and experienced a noteworthy year in terms of strengthening passenger travel demand, and rising worldwide military expenditures. For the coming years the industry is expected to continue to experience the growth trajectory led by commercial aerospace production and robust defense spending. For the commercial sector the all-time high aircraft order backlog owing to the increasing demand for fuel efficient, and next generation aircrafts is anticipate to rise with surge in oil prices.
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- Honeywell International Inc.
- Aireon LLC
- Rockwell Collins (United Technology Corporation)
- Garmin, Ltd.
- Flyht Aerospace Solutions Ltd
- Spider Tracks Limited
- Skytrac Systems Ltd.
- Blue Sky Network
With the aircraft backlog at its peak, manufacturers are expected to ramp up production rates, hence, driving growth in the sector. However, manufacturers could experience supply chain interruptions as some suppliers may struggle to increase production to keep up with the growing backlog. In the defense sector, heightened global tensions and geopolitical risks, recovery in the US defense budget, and higher defense spending by other major regional powers such as China, India, and Japan are expected to drive global defense sector growth in 2019 and beyond.
On the rare occasions when accidents occur, rescuing survivors has the highest priority, followed by the recovery of casualties, the wreckage and the flight recorders. Analysis of data from these recorders is very important in supporting accident investigation which may, through identification of the cause of the accident, contribute towards enhancing safety. To achieve this intent, an effective and globally consistent approach to improving the alerting of search and rescue services is essential.
The global market for flight tracking system is segmented on the basis of system and end-use, and geography. Based on system, ADS-B segment dominates the flight tracking system market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. On the basis of end-use, commercial segment is expected to witness a significant growth rate in the coming years, however, military is projected to be the fastest growing segment.
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