Market Overview:
Flight tracking systems help air traffic controllers track commercial as well as private aircraft in real time. It provides information like aircraft identification, altitude, speed, location which helps in monitoring flight paths and ensuring safety.
Market key trends:
One of the major trends in the flight tracking system market is the increasing demand for drone delivery services. With more companies exploring drone delivery for shipping goods, it has become important to track flights of drones to ensure safety. Drone delivery services require specialized tracking capabilities to monitor fleets of drones simultaneously. This growing segment is expected to drive significant growth in the demand for drone tracking systems in the coming years.
Segment Analysis
The global flight tracking system market is segmented by solution into ADS-B, ACARS, flight performance, fleet asset tracking, and others. The ADS-B solution dominates the market as it provides more accurate information about the aircraft’s position and increases situational awareness. It is installed mandatorily by aviation authorities globally to replace secondary radars for air traffic control and airline operations.
Key Takeaways
The global Flight Tracking System Market Demand is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing air traffic and safety concerns.
Regional analysis
North America holds a significant share in the global flight tracking market owing to stringent regulations in the region regarding flight tracking systems. It is estimated to continue dominating the market during the forecast period. Asia Pacific exhibits the fastest growth rate owing to rising aircraft orders and increasing investments in the aviation industry from countries like China and India.
Key players
Key players operating in the flight tracking system market are Aireon LLC, Spider Tracks Limited, BLUE SKY NETWORK, SKY TRAC SYSTEMS LTD, FLYHT Aerospace Solutions Ltd., Rockwell Collins, Garmin International Inc., and Honeywell International Inc. Aireon LLC provides global satellite-based automatic dependent surveillance-broadcast services for air traffic surveillance. Garmin International Inc. offers avionics products, including the G1000 integrated flight deck and the G5000 integrated flight deck.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it