The Flight Inspection (FI) Market is expected to grow at CAGR of 6.2% during 2021-2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Flight Inspection (FI) Market
Flight Inspection (FI) Market is likely to witness an impressive CAGR of 6.2% during the forecast period. Increase in expenditure on new airport developments as well as existing airport infrastructure developments, along with the surge in routine and commissioning inspection activities and special flight inspection programs are likely to propel the flight inspection (FI) market in the coming five years.
In terms of regions, the Americas accounted for the largest share of the FI market in 2018, followed by Europe and Asia Pacific. This growth of the market was owing to rising passenger traffic in countries such as Brazil and Mexico and the development and modernization of airports in the US and Canada. In Americas, the US is dominating the overall market in the region. The reason for this enormous dominance of the US is primarily due to the airport expansion programs and presence of flight inspection system manufacturers in the country.
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Market Scope & Segmentation
Flight Inspection (FI) Market Share: By Solution Type
Based on the solution type, the market is segmented as services and system. The system segment is estimated to grow at a higher CAGR during the forecast period and is likely to command the market. Increasing number of new airport development programs and increasing expenditure by emerging economies on airport infrastructure are the prime factors boosting the growth of the flight inspection market.
Flight Inspection (FI) Market Share: By End-User Type
Based on the end-user type, the market is segmented as commercial airports and defense airports. The defense airports segment is estimated to dominate the market during the forecast period, driven by the increasing number of tactical forward airbases and defense airports, triggered by the increase in the expenditure on military infrastructure.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2021-2026. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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