Flight Data Monitoring (FDM) Market is likely to witness an impressive CAGR of 9.2% during the forecast period. The growing claim for improved situational cognizance for efficient airline operations, need to minimize the cost of unscheduled maintenance, the rising volume of data generated by the aviation industry, and an upsurge in aircraft deliveries are the prime factors that are driving the global flight data monitoring market.
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Flight Data Monitoring Market Segment Insights:
The on-ground segment is estimated to remain dominant during the forecast period. The growing application of the ground-based flight data monitoring analysis software is fueling the growth of the segment.
By Component Type:The FDM service segment led the market in 2018. Factors such as increasing aircraft deliveries globally and the demand for enhanced functional efficiency of airlines are bolstering the growth of the FDM service segment in the coming five years.
By End-User Type:The fleet operators’ segment held a major share of the market in 2018. The escalating fleet size of prominent airlines in the APAC region is stimulating the growth of the flight data monitoring market during the forecast period.
By Region:
North America and Europe are expected to lead the flight data monitoring market during the forecast period. The market is driven by the presence of giant system manufacturers, software developers, and service providers in the flight data monitoring market that are located in the US, the UK, and France. Asia-Pacific is also expected to offer substantial growth opportunities in the coming five years.
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