North America Flight Data Monitoring Systems Market to Grow at a CAGR of 6.9% to reach US$ 2,012.23 million from 2020 to 2027

The flight data monitoring systems market in North America is expected to grow from US$ 1,311.56 million in 2020 to US$ 2,012.23 million by 2027; it is estimated to grow at a CAGR of 6.9% from 2020 to 2027.

The US, Canada, and Mexico are major economies in North America. Rising demand for flight safety solutions is the major factor driving the North America flight data monitoring systems market. The aviation industry is witnessing a huge adoption of data analysis, owing to rising integration of blockchain, Internet of things (IoT), augmented reality (AR), artificial intelligence (AI), and big data analytics. The advanced software integration in aircraft systems is boosting aircraft performance and safety and reducing maintenance costs. The predictive analysis performed using flight data is helping aircraft operators to improve the safety of flight operations. The enhanced storage capacity of the hardware and integration of advanced software tools are boosting the flight data monitoring (FDM) systems performance. The insightful data achieved through flight monitoring devices helps aircraft operators to improve operational efficiency and safety and reduce maintenance costs. The data would allow the operators to identify areas of operational risk by highlighting occurrences of non-standard, unusual, or unsafe circumstances. Thus, with the help of this data, preventive actions can be taken to mitigate the risk of unsafe events. This increasing number of accidents can be countered by safety flight practices, which include FDM. The demand for FDM is supposed to escalate during the forecast period with rising importance for data analytics in the aviation industry. For instance, according to the US Helicopter Safety Team (USHST), there have been 12 fatal accidents in 2018 compared to 10 accidents for the same period in 2017. This increasing number of accidents can be countered by safety flight practices, which include FDM. The flight data monitoring system is transforming airlines from reactive mode to proactive mode, thereby augmenting the market growth.  

The ongoing COVID-19 is having a very devastating impact across North America. The North American market suffered the huge economic loss in the first half of 2020 owing to the high number of COVID-19 cases, specifically in the US. The economic growth has lowered that delayed the ongoing projects of commercial and defense upgradation. The US is one of the major exporters of aircraft but owing to disrupted supply chain and lowering economic conditions of importing countries, the country is witnessing lower export revenue. Enhancing trade relation to support international supply post lockdown helped market to regain its position. The limiting strength of workforce due to physical distancing model hampered the production activities in country. The low demand for aircraft created severe impact on the aircraft manufacturing companies. For instance, Boeing company expected lower demand from market than their previous prediction amid COVID-19. In new report, the company predicted 11% drop in demand from its forecast a year ago. Such lowering demand and sale of aircraft has direct negative impact on the adoption of flight data monitoring systems and services, which hinders the growth of the flight data monitoring systems market in North America.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America flight data monitoring systems market. The North America flight data monitoring systems market is expected to grow at a good CAGR during the forecast period.

North America Flight Data Monitoring Systems Market Segmentation  

North America Flight Data Monitoring Systems Market – By Component

• Hardware
• Software
• Services

North America Flight Data Monitoring Systems Market – By Solution Type

• On Board
• Ground

North America Flight Data Monitoring Systems Market – By End User

• Fleet Operators
• Drone Operators
• Investigation Agencies

North America Flight data monitoring systems Market, by Country

• US
• Canada
• Mexico

North America Flight Data Monitoring Systems Market - Companies Mentioned

• Appareo
• Curtiss-Wright Corporation
• FLYHT Aerospace Solutions Ltd.
• Guardian Mobility
• Honeywell International Inc.
• L3Harris Technologies Inc.
• Safran Electronics & Defense
• Scaled Analytics Inc.
• Skytrac Systems Ltd.
• Teledyne Controls LLC

North America Flight Data Monitoring Systems Report Scope