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Flight Inspection Market Overview
Flight Inspection Market Size was valued at USD 5.5 billion in 2022. The Flight Inspection market industry is projected to grow from USD 5.7 billion in 2023 to USD 8.0 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.30% during the forecast period (2023 – 2032). The primary market driver for flight inspections is the rise in air traveller volume.
Each nation must increase both its military and commercial aviation despite the significant financial expenditures in order to foster stronger economic growth and global transportation. Each country is therefore both concerned about and looking forward to the deployment of modern flight inspection systems like GBAS, ground-based systems, and other communication aids.
Every country strives to develop itself since commercial aeroplanes play a major role in international transportation activities and considerably contribute to GDP. The aviation business is developing thanks in part to the notable economic expansion of developing nations. The number of domestic and foreign travellers is growing, which further increases the market’s potential for growth.
Airports are compelled to install state-of-the-art flight inspection technology in order to better manage operations due to the increasing demand from rising nations for greater airline service. As a result of rising commercial aviation and passenger traffic, the global flight inspection market’s compound annual growth rate (CAGR) is rising.
In addition, governments have begun constructing new airports to meet the demand for a growing fleet of aircraft and air travel. The first three water airports in the country would be constructed in the Indian Union Territory of Andaman & Nicobar, according to plans released in December 2019 by the Airport Authority of India (AAI).
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Segmentation
The Flight Inspection market segmentation, based on application, includes commercial airports, defense airports.
The Flight Inspection market segmentation, based on solution, includes systems, services.
By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World.
This market will be dominated by the flight inspection segment in North America. The development and renovation of airports in Brazil and Mexico, along with the rise in aircraft passenger traffic in the region, have recently propelled the flight inspection industry’s expansion. The flight inspection market in Asia Pacific is anticipated to expand at the fastest rate possible between 2023 and 2032. The efforts of countries like China, India, South Korea, Japan, and others have resulted in the expansion of the commercial and defence aviation sectors. The increasing usage of unmanned aerial vehicles (UAVs) for flight inspections and the falling cost of flight inspections are the main drivers of the flight inspection market’s expansion. Additionally, the market for flight inspections in China has the most market share. The India Flight Inspection market was the fastest-growing market in the Asia-Pacific region.
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Competitive Landscape
Major players in the Flight Inspection market attempting to increase market demand by investing in research and development operations are
Textron, Inc. (US),
Bombardier, Inc. (Canada),
Norwegian Special Mission AS (Norway),
AERODATA AG (Germany),
Airfield Technology, Inc. (US),
Saab AB (Sweden),
Safran (France),
Cobham plc (UK),
Radiola Limited (New Zealand),
ENAV S.p.A. (Italy),
MISTRAS Group, Inc. (US)
ST Engineering (Singapore)
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