Flight Tracking System Market Report - (Growth and Size 2031)
The Flight Tracking System Market size is projected to reach US$ 655.10 million by 2031 from US$ 441.61 million in 2023. The market is expected to register a CAGR of 5.1% in 2023–2031. FAA (Federal Aviation Administration) is part of U.S department of Transport that has initiated various programs to promote the adoption of the latest flight tracking technology that includes ADS-B. Some of the major initiatives by the association includes GDASS. Presence of such associations in the region has offered the aviation industry with standardized guidelines for implementation of flight tracking systems. The initiatives by the government associations are expected to offer the flight tracking systems market with a noteworthy growth opportunity in the coming years.
Flight Tracking System Market Analysis
The aerospace and defense industry across the globe encompass several numbers of well-established aircraft original equipment manufacturers (OEMs) accounting substantially large market share in the respective aircraft market. Since there is availability of large number of aircraft valve manufacturers in the market, small as well as big-brands, the aircraft manufacturers have a substantial bargaining power to procure aircrafts valve with high-quality at a competitive price. As a result, the bargaining power of buyers in the flight tracking system market is inclined towards buyers due to their functional requirement and presence of substantial number of suppliers. Moreover, the bargaining powers of the buyers is expected to remain high during the forecast period owing to development of OEM components and aircraft components.
Flight Tracking System Market Overview
The rising air passenger traffic across different regions and increasing number of flight operations are some major factors catalysing the growth for flight tracking system market globally. Further, the need for real time updates and advancements in the air traffic control operations is another major factor supporting the deployment of systems such as ADS-B, ACARS, and FANS.
The ongoing war between Russia-Ukraine, Israel-Palestine, and Israel-Iran have been impacting the airline operations globally. Before the starting of Russia-Ukraine war, Russia accounted for around 11% of the global passenger traffic in terms of number of passengers for their respective domestic and international travels. However, the war has led to a negative impact for the international as well as domestic flights in the Russia region which has ultimately impacted the flight tracking demand across the country. Further, the constant tensions among the countries such as US-China, US-Russia, and India-China may also hamper the airline operations in the coming years.
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Flight Tracking System Market: Strategic Insights
Market Size Value in US$ 354.7 Million in 2019 Market Size Value by US$ 549.7 Million by 2027 Growth rate CAGR of 5.6% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Flight Tracking System Market: Strategic Insights
| Market Size Value in | US$ 354.7 Million in 2019 |
| Market Size Value by | US$ 549.7 Million by 2027 |
| Growth rate | CAGR of 5.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Flight Tracking System Market Drivers and Opportunities
Increasing Flight Traffic Contributing to Demand for New Aircraft
The rising air passenger traffic across different regions and changing regional traffic across emerging countries such as China and India are driving the flight tracking system market worldwide. Currently, the US and China have been competing in terms of passenger traffic. Below are mentioned top 5 countries ranking in terms of passenger traffic
Rank | 2023 | 2042 | 2052 |
1 | US | China | China |
2 | China | US | US |
3 | India | India | India |
4 | Spain | Indonesia | Indonesia |
5 | UK | Spain | Spain |
6 | Japan | Japan | Turkey |
7 | Turkey | Turkey | Japan |
Such change in passenger traffic dynamics is likely to generate new demand from the emerging countries such as China, Indonesia, and Turkey in the coming years which is expected to drive the market for flight tracking system across different regions.
Implementation of ICAO Guideline for Abnormal Flight Condition from 2021
Majority of the businesses in the aviation operation and airlines in the market are prepared to meet the requirements of ICAO and are awaiting the for next level of regulatory and industry guidelines linked to the second phase of GADSS provisions that are yet to be technologically defined by the ICAO. Such requirements began in January 2021 and comprise of a provision for production of new airframes that would get equipped with the capability to generate position reports once a minute while in an abnormal flight status. The systems would be independent of aircraft power and not detachable. These new requirement for the tracking devices as per the ICAO guidelines would receive significant traction as the regional regulatory agencies make it a compulsory need. This global initiative is anticipated to generate ample production demand for flight tracking systems for both commercial as well as military aircrafts. The standards for defining the avionics ability to facilitate the tracking systems as per the ICAO norm for 2021 initiatives has already begin with the ARINC Industry Activities and the global aircraft tracking working group have prepared the standards.
Flight Tracking System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Flight Tracking System Market analysis are system, end use, and geography.
- Based on system, the Flight Tracking System Market has been divided into ADS-B, FANS, ACARS, and PFTS. The ADS-B segment held a larger market share in 2023.
- By end use, the market has been segmented into military and commercial. The commercial segment held the largest share of the market in 2023.
Flight Tracking System Market Share Analysis by Geography
The geographic scope of the Flight Tracking System Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America dominated the flight tracking system market in 2023, whereas Asia Pacific is likely to counter the North America region by the end of 2031. Further, North America region is the economic power house of the world and has continued its legacy for around a century. The regions hold largest and strongest economy supported by a commodities cornucopia, industrial dynamo, thus attracting millions of immigrants looking for better life. The strongest financial performance being delivered by airlines in North America resulted in Net post-tax profits at around US $14.3 Bn in 2023 year. The limited downside of the region in this sector has been reinforced by consolidation, serving to sustain load factors (including cargo and passenger) more than 63%, and ancillaries, which bounds the influence of higher fuel costs, keeping breakeven load factors close to 57% in coming years.
Flight Tracking System Market Report Scope
Flight Tracking System Market News and Recent Developments
The Flight Tracking System Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for flight tracking system market and strategies:
- In March 2024, Aireon, one of the major companies in space-based air traffic management data products and services, has signed an expanded distribution agreement with Airbus to enable more users access to the Aireon's space-based automatic dependent surveillance-broadcast (ADS-B) data. (Source: Aireon, Press Release/Company Website/Newsletter)
- In June 2022, Spain-based ENAIRE acquires six ADS-B surveillance stations from Thales for their deployment and commissioning in the Cantabrian sector. (Source: Thales Group, Press Release/Company Website/Newsletter)
Flight Tracking System Market Report Coverage and Deliverables
The “Flight Tracking System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
System ; End-use
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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