Global Flight Data Monitoring Market is projected to be valued at USD 7,060 Million by 2026, registering a CAGR of 7.21% from 2020 to 2026.
The increasing need for situational awareness has significantly contributed to the expansion of the flight data monitoring market. Furthermore, the rise in airport modernization programs and stringent government regulations for aircraft safety is also expected to drive the growth of the market. Additionally, the rising air passenger traffic in countries such as China and India is also encouraging airport authorities and airlines to increase investments in-flight data monitoring systems. Moreover, advancements in technology are also expected to drive the growth of the market.
However, issues related to the lack of expertise and accuracy of information might hamper the growth of the market.
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The increasing need for enhanced situational awareness in the aviation industry is expected to drive the growth of the market.
Growth Opportunities in the Market
The On-Ground Segment to Register the Higher Growth Rate: The on-ground segment is expected to record the higher CAGR during the forecast period due to the growing use of on-ground flight data services and flight data analysis, and the incorporation of FDM and flight operations quality assurance (FOQA). These services provide a full analysis of day-to-day flight operations to aircraft operators.
The Drone Operators Segment Is Expected to Be the Fastest-Growing: The drone operators segment is expected to register the highest CAGR during the forecast period. The growing adoption of drones for various applications, such as the gathering of weather data and intelligence information and aerial photography, is expected to drive the growth of the segment.
The FDM Services Segment IS Expected to Register the Highest CAGR: The FDM services segment is projected to register the highest CAGR during the forecast period. Factors such as the increasing number of aircraft deliveries and the demand for the improved operational efficiency of airlines are driving the growth of the FDM services segment.
Other Prominent Players
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