Transparency Market Research (TMR) observes that the competition in the global flight data monitoring and analysis market is extremely high due to the strong presence of several well-established players in the market. Entry of smaller players in the international market has made the scenario tough for the existing players. To remain relevant, leading companies are focusing on mergers and acquisitions to expand their product portfolio in the coming years. The top three players in the global market are Safran Electronics & Defense, Curtiss-Wright Corporation, and Teledyne Controls LLC. The collective share of these companies is estimated to reach 92% by the end of 2017.
North America to Lead the Global Flight Data Monitoring and Analysis Market
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According to the research report, the global flight data monitoring and analysis market is expected to be worth US$ 1,623.16 mn by the end of 2025 from US$677.6 mn in 2016. During the forecast years of 2017 and 2025, the global market for flight data monitoring and analysis market is estimated to progress at a CAGR of 10.4%. The fixed-wing segment is estimated to lead the global market as it is slated to acquire a share of 90.7% in the overall market. Higher safety offered by fixed-winged aircraft is expected to propel the segment. From a geographic point of view, the North America flight data monitoring and analysis market is expected to be the largest one. This regional market is slated to register a CAGR of 8.8% during the forecast period.
The demand for flight data monitoring and analysis (FDMA) has spiked in recent years due to the growing air traffic and mushrooming airline companies. These systems are used for proactive recording of flight data to understand the repetitive nature of operational inefficiencies. Thus, the primary purpose of FDMA to improve flight and maintenance operations and establishing excellent aviation safety standards. Today, application of FDMA extends to improving flight crew performance, air carrier training programs, air traffic control procedures, aircraft operations, and maintenance areas of a fleet operator along with improving flight operations. Thus, the widening application of these programs is expected to bolster the growth of the global market in the coming years.
Higher Profit Margins Ensure Swift Uptake of FDMA Programs
Adoption of flight data monitoring and analysis programs has resulted has led to a drastic reduction in accidents, allowed fuel economy, increased availability of aircraft, eliminated the need for unnecessary repairs and maintenance, and thereby ensured a higher profit margins for the aviation industry. In light of these reasons, the FDMA market is likely to find lucrative opportunities across the globe. According to the International Aviation Civil Organization (ICAO), it is now mandatory to have FDMA for aircraft that are above a specified maximum certificated take-off mass.
Despite the brilliant market drivers steering the growth of the global market, it faces a few challenges. The key restraint for the global flight data monitoring and analysis market is the concern about data security. Though Flight Operations Quality Assurance (FOQA) maintains a tight lid on the data, making sure it is not misused, several airline operators continue to be hesitant about it. This factor is expected to tug the market in the downward direction in the coming years.