The Flight Tracking System Market is estimated to reach US$ 549.7 Mn by 2027 from US$ 342.0 Mn in 2018

The global aerospace and defense industry in 2018 had recuperated and experienced a noteworthy year in terms of strengthening passenger travel demand, and rising worldwide military expenditures. For the coming years the industry is expected to continue to experience the growth trajectory led by commercial aerospace production and robust defense spending. For the commercial sector the all-time high aircraft order backlog owing to the increasing demand for fuel efficient, and next generation aircrafts is anticipate to rise with surge in oil prices. With the aircraft backlog at its peak, manufacturers are expected to ramp up production rates, hence, driving growth in the sector. However, manufacturers could experience supply chain interruptions as some suppliers may struggle to increase production to keep up with the growing backlog. In the defense sector, heightened global tensions and geopolitical risks, recovery in the US defense budget, and higher defense spending by other major regional powers such as China, India, and Japan are expected to drive global defense sector growth in 2019 and beyond.

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The global flight tracking system market accounted to US$ 342.0 Mn in 2018 and is expected to grow at a CAGR of 5.6% during the forecast period 2019 - 2027, to account to US$ 549.7 Mn by 2027.

Until now the FAA and DoD have been more focused upon equipping the military aircrafts with the ADS-B Out technology, whereas the GAO continues to raise concerns regarding the mitigation of security risks. This uncertainty with respect to the technology in the military has created a challenging situation for the companies catering to military fields. However as the January 2021 amendment affirms its implementation the demand for Flight Tracking systems is likely to continue its trajectory in during the forecast period. Some of the key players included in the flight system tracking market are Honeywell International Inc., Aireon LLC, Rockwell Collins, Garmin International Inc., Flyht Aerospace Solutions Ltd., Spider Tracks Limited, Sky Trac Systems Ltd., and Blue Sky Network, among others.

On the rare occasions when accidents occur, rescuing survivors has the highest priority, followed by the recovery of casualties, the wreckage and the flight recorders. Analysis of data from these recorders is very important in supporting accident investigation which may, through identification of the cause of the accident, contribute towards enhancing safety. To achieve this intent, an effective and globally consistent approach to improving the alerting of search and rescue services is essential.

The global market for flight tracking system is segmented on the basis of system and end-use, and geography. Based on system, ADS-B segment dominates the flight tracking system market heavily and is expected to continue its dominance throughout the forecast period from 2019 - 2027. On the basis of end-use, commercial segment is expected to witness a significant growth rate in the coming years, however, military is projected to be the fastest growing segment.

As per IATA (International Air Transport Association) number of passengers travelling by air is expected to reach ~7.8 billion by 2036. This growth in the passengers travelling through airways is majorly influenced by the rapidly emerging middle class segment in developing economies. Exponentially burgeoning working group in the developing region has resulted in increased disposable income and freight traffic. Majority of the rising middle class was witnessed in China and India (as described by United Nations). Furthermore, as the world continue to recover from pervious economic contractions, the demand of air travel is projected to vary widely.

Recently in January 2019, Aviation Communications & Surveillance Systems, LLC (ACSS) announced the delivery of 10,000th production of its NXY mode-S transponder family. This in response has resulted in directives from the EASA and FAA to mandate the implementation of ADS-B to the aircrafts. The directive was the result of capabilities provided by ACSS, which is a joint venture between Thales and L3. The company offers products that facilitate the commercial, business and military aircrafts with the capability to operate in ADS-B airspace. Having achieve the benchmark of 10,000th NXT unit the market is projected to witness new aircrafts equipped with ADS-B out by early 2020.

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Posted by on Monday March 25 2019, 12:47 AM EDT. All trademarks acknowledged. Filed under Aerospace, Aerospace & Defence, Business Services, Defence, Featured Press Release. Comments and Trackbacks closed. Follow responses: RSS 2.0

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