Airport facilities are demanding flight inspection system equipped aircraft for routine and commissioning inspection processes. Therefore, market players are developing advanced flight inspection aircrafts having latest inspecting tools. The COVID-19 pandemic is hindering the market growth as many airlines are suspended in several countries due to unstable economy. Moreover, the growing demand for flight inspection services from developing countries such as India and China is compelling service providers to improve their offerings with modern technology. The flight inspection companies adopt various marketing strategies such as new product developments, partnerships, and acquisitions to optimize their existing offerings and expand their portfolio to meet a significant number of customers. For instance, Safran SA collaborated with Zhejiang XiZi Aircraft Component Company to enhance Safran’s relationship with OEM through asset and skill training and increase its penetration in the Chinese market.
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According to our latest market study on “Flight Inspection Market Forecast to 2027 – COVID -19 Impact and Global Analysis – by Solution [System (Fixed System, Mobile System, and Ground-based System) and Services (Routine Services, Commissioning Services, and Special Services)] and End User (Defense Airport and Commercial Airport),” the market was valued at US$ 4,281.99 million in 2019 and is projected to reach US$ 8,060.80 million by 2027; it is expected to grow at a CAGR of 8.1% from 2020 to 2027. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
Surge in Demand from Emerging Countries Offer Business Opportunities to Market Players
The aircraft industry is growing at a faster rate in Asia Pacific, North America, and Europe with an advent modern navigational and communicational technology for aircraft. China, India, the US, Germany, and the UK are among the countries that are strongly adopting flight inspection systems in commercial aircraft. Further, rising airline services in Asian countries are strongly supporting market growth. In addition, government is also playing vital role to support aviation industry even in pandemic situation emerged due to COVID-19. For instance, government of South Korea has announced the financial support up to US$269 million or smaller local air carriers.
The players operating in the flight inspection market focus on strategies such as partnerships, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
The growth of the flight inspection market is mainly attributed to increasing investments in the aviation industry in developed and developing nations. Flight inspection is done to ensure if the flight is ready to fly by checking equipment are meeting all specified standards. Thus, it has major adoption in commercial aircraft fleet. With the immense growth in the aircraft technology, each country is witnessing the increased demand for flight inspection systems.
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