New York, United States , July 03, 2024 (GLOBE NEWSWIRE) -- The Global Flight Tracking System Market Size is Expected to Grow from USD 448.32 Million in 2023 to USD 751.6 Million by 2033, at a CAGR of 5.30% during the forecast period 2023-2033.
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Flight tracking is a type of technology that enables the real-time monitoring of flight positions, planes, and airport activity using the software. It tells passengers and those picking them up when a flight has landed or arrives on schedule. It gathers data from a variety of sources, including radar, ADS-B (Automatic Dependent Surveillance-Broadcast), and satellite feeds, and delivers correct information that includes the aircraft's current location, altitude, speed, route, departure, and arrival timings via radio signal. The flight tracking system (FTS) market is driven by several key advantages, including proactive alert systems that reduce accidents, automation that reduces human error, real-time tracking that improves fleet management, a high return on investment, and customizable features that meet a wide range of aviation needs. Furthermore, technological developments and regulatory pressures increase uptake. however, the flight tracking system industry confronts major obstacles, owing to the high costs of installation, maintenance, and certification. Advanced versions have considerably greater costs, limiting their use to larger enterprises with substantial resources.
Browse key industry insights spread across 220 pages with 121 Market data tables and figures & charts from the report on the "Global Flight Tracking System Market Size, Share, and COVID-19 Impact Analysis, By System Type (ADS-B, FANS, Portable FTS), By Application (Fixed-Wing, and Rotary-Wing), By End-User (General Aviation, Civil Aviation, Military Aircraft), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The ADS-B segment is predicted to hold the largest market share through the forecast period.
Based on the system type, the flight tracking system market is classified into ADS-B, FANS, and portable FTS. Among these, the ADS-B segment is predicted to hold the largest market share through the forecast period. The ADS-B segment dominates the flight-tracking system market due to its broad acceptance and technological advantages. ADS-B provides real-time tracking and exact placement of aircraft, increasing safety and efficiency in aviation operations.
The fixed-wing segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the flight tracking system market is divided into fixed-wing and rotary-wing. Among these, the fixed-wing segment is anticipated to hold the highest market share during the projected timeframe. The rapidly rising middle class is one of the primary causes of increased demand for new commercial aircraft, which in turn increases the demand for flight monitoring systems in fixed-wing aircraft. The commercial aviation sector mainly relies on fixed-wing aircraft for global passenger and cargo transportation because of their efficiency and range.
The civil aviation segment is anticipated to hold the greatest share of the flight tracking system market during the projected timeframe.
Based on the end-user, the flight tracking system market is categorized into general aviation, civil aviation, and military aircraft. Among these, the civil aviation segment is anticipated to hold the greatest share of the flight tracking system market during the projected timeframe. Commercial airlines operate much more flights than general aviation (private planes) and military aviation. This results in a significantly higher need for tracking systems in the civil aviation sector.
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North America is estimated to hold the largest share of the flight tracking system market over the forecast period.
North America is estimated to hold the largest share of the flight tracking system market over the forecast period. Airlines in the region have invested heavily to improve the safety of their aircraft fleets. Furthermore, the US military adopts advanced technologies, particularly in the fields of wireless sensor networks, artificial intelligence, and high-speed communications, and invests in the research and development of advanced tracking systems to improve the capability of their flight tracking systems.
Asia Pacific is predicted to have the highest CAGR growth in the flight tracking system market over the forecast period. The APAC market is linked to the presence of developing economies in the region. With rising per capita disposable income, the region's air passenger traffic has skyrocketed during the last decade. The rising middle class and greater demand for aircraft are expected to fuel aviation growth, increasing demand for flight-tracking systems in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the flight tracking system market include Airbus SAS, IBM Corporation, Spider Tracks Limited, ACR Electronics Inc., Aireon LLC, AirNav System LLC, Blue Sky Network, FLYHT Aerospace Solutions Ltd., Honeywell International Inc., Garmin, Ltd., Rockwell Collins, Skytrac System Ltd., and Others.
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Recent Developments
- In January 2024, X-1FBO, an aviation software company, debuted the X-1 Landing System with Morristown Airport (KMMU). This system automates monitoring of arriving and outgoing aircraft activities using flight tracking data.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the flight tracking system market based on the below-mentioned segments:
Global Flight Tracking System Market, By System Type
- ADS-B
- FANS
- Portable FTS
Global Flight Tracking System Market, By Application
- Fixed-Wing
- Rotary-Wing
Global Flight Tracking System Market, By End-User
- General Aviation
- Civil Aviation
- Military Aircraft
Global Flight Tracking System Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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