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.
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North America Flight Data Monitoring Systems Market Segmentation
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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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Solution Type, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Flight Data Monitoring Systems Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
5. North America Flight Data Monitoring Systems Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Flight Safety Solutions
5.1.2 Growing Number of Aircraft Deliveries
5.2 Market Restraints
5.2.1 Expensive Flight Data Monitoring Systems and Availability of Alternative Solutions
5.3 Market Opportunities
5.3.1 Increasing Need for Helicopter Flight Data Monitoring (HFDM) Systems
5.4 Future Trends
5.4.1 Significant Increase in Offering of Flight Data Monitoring Services
5.5 Impact Analysis of Drivers and Restraints
6. Flight Data Monitoring Systems Market – North America Analysis
6.1 Overview
6.2 North America Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
7. North America Flight Data Monitoring Systems Market Analysis – By Component
7.1 Overview
7.2 North America Flight Data Monitoring Systems Market, By Component (2020 and 2027)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: Flight Data Monitoring Systems Market –Revenue and Forecast to 2027 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: Flight Data Monitoring Systems Market –Revenue and Forecast to 2027 (US$ Million)
7.5 Services
7.5.1 Overview
7.5.2 Services: Flight Data Monitoring Systems Market –Revenue and Forecast to 2027 (US$ Million)
8. North America Flight Data Monitoring Systems Market Analysis – By Solution Type
8.1 Overview
8.2 North America Flight Data Monitoring Systems Market, By Solution Type (2020 and 2027)
8.3 On board
8.3.1 Overview
8.3.2 On board: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Ground
8.4.1 Overview
8.4.2 Ground: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
9. North America Flight Data Monitoring Systems Market Analysis – By End User
9.1 Overview
9.2 North America Flight Data Monitoring Systems Market, By End User (2020 and 2027)
9.3 Fleet Operators
9.3.1 Overview
9.3.2 Fleet Operators: Flight Data Monitoring Systems Market –Revenue and Forecast to 2027 (US$ Million)
9.4 Drone Operators
9.4.1 Overview
9.4.2 Drone Operators: Flight Data Monitoring Systems Market –Revenue and Forecast to 2027 (US$ Million)
9.5 Investigation Agencies
9.5.1 Overview
9.5.2 Investigation Agencies: Flight Data Monitoring Systems Market –Revenue and Forecast to 2027 (US$ Million)
10. North America Flight Data Monitoring Systems Market – Country Analysis
10.1 Overview
10.1.1 North America: Flight Data Monitoring Systems Market, By Country
10.1.1.1 US: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 US: Flight Data Monitoring Systems Market, By Component
10.1.1.1.2 US: Flight Data Monitoring Systems Market, By Solution Type
10.1.1.1.3 US: Flight Data Monitoring Systems Market, By End User
10.1.1.2 Canada: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 Canada: Flight Data Monitoring Systems Market, By Component
10.1.1.2.2 Canada: Flight Data Monitoring Systems Market, By Solution Type
10.1.1.2.3 Canada: Flight Data Monitoring Systems Market, By End User
10.1.1.3 Mexico: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 Mexico: Flight Data Monitoring Systems Market, By Component
10.1.1.3.2 Mexico: Flight Data Monitoring Systems Market, By Solution Type
10.1.1.3.3 Mexico: Flight Data Monitoring Systems Market, By End User
11. North America Flight Data Monitoring Systems Market - COVID-19 Impact Analysis
11.1 North America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Partnership
13. Company Profiles
13.1 L3Harris Technologies, Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Appareo
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 FLYHT Aerospace Solutions Ltd
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Honeywell International Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Curtiss-Wright Corporation
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Guardian Mobility
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Safran Electronics & Defense
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Scaled Analytics Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 SKYTRAC SYSTEMS LTD
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Teledyne Controls LLC
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America Flight Data Monitoring Systems Market – Revenue, and Forecast to 2027 (US$ Million)
Table 2. US Flight Data Monitoring Systems Market, By Component– Revenue and Forecast to 2027 (US$ Million)
Table 3. US Flight Data Monitoring Systems Market, By Solution Type – Revenue and Forecast to 2027 (US$ Million)
Table 4. US Flight Data Monitoring Systems Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada Flight Data Monitoring Systems Market, By Component– Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada Flight Data Monitoring Systems Market, By Solution Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada Flight Data Monitoring Systems Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 8. Mexico Flight Data Monitoring Systems Market, By Component– Revenue and Forecast to 2027 (US$ Million)
Table 9. Mexico Flight Data Monitoring Systems Market, By Solution Type – Revenue and Forecast to 2027 (US$ Million)
Table 10. Mexico Flight Data Monitoring Systems Market, By End User – Revenue and Forecast to 2027 (US$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Flight Data Monitoring Systems Market Segmentation
Figure 2. North America Flight Data Monitoring Systems Market Segmentation – By Country
Figure 3. North America Flight Data Monitoring Systems Market Overview
Figure 4. North America Flight Data Monitoring Systems Market, by Country
Figure 5. North America Flight Data Monitoring Systems Market, By Component
Figure 6. North America Flight Data Monitoring Systems Market, By End User
Figure 7. Porter’s Five Forces Analysis
Figure 8. North America Flight Data Monitoring Systems Market – Ecosystem Analysis
Figure 9. North America Flight Data Monitoring Systems Market: Impact Analysis of Drivers and Restraints
Figure 10. North America Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. North America Flight Data Monitoring Systems Market Revenue Share, By Component (2020 and 2027)
Figure 12. North America Hardware: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. North America Software: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. North America Services: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. North America Flight Data Monitoring Systems Market Revenue Share, By Solution Type (2020 and 2027)
Figure 16. North America On board: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. North America Ground: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. North America Flight Data Monitoring Systems Market Revenue Share, By End User (2020 and 2027)
Figure 19. North America Fleet Operators: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. North America Drone Operators: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. North America Investigation Agencies: Flight Data Monitoring Systems Market –Revenue and Forecast to 2027 (US$ Million)
Figure 22. North America: Flight Data Monitoring Systems Market, by Key Country – Revenue (2012) (US$ Million)
Figure 23. North America Flight Data Monitoring Systems Market Revenue Share, By Country (2020 and 2027)
Figure 24. US: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Canada: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Mexico: Flight Data Monitoring Systems Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic in North American Country Markets
- 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
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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