Flight data monitoring is a systematic and proactive process of gathering and analyzing data recorded during routine flights to improve flight crew performance, operating procedures, flight training, air traffic control procedures, air navigation services or aircraft maintenance and design. The flight data monitoring market is projected to grow from USD 3.71 Billion in 2017 to USD 5.34 Billion by 2022, at a CAGR of 7.55% from 2017 to 2022. The flight data monitoring market in the Asia Pacific expected to grow at the highest rate during the forecast period. The growth attributed to the increasing air passenger traffic, which has led to a demand for new aircraft in the region.
Curtis-Wright Defense Solutions (US) is a leading player in the market and focused on developing new solutions that address the requirements of emerging applications for the aerospace, defense, and industrial sectors. For example, it recently developed two new products, namely, Fortress HUMS and Axon. The company offers products, software as well as systems related to FDM solutions. It also focuses on acquiring companies such as Teletronics Technology Corporation (US) to expand its position in flight data monitoring and related markets as well as enhance its offerings.
Safran Electronics & Defense is another important player that has adopted a mix of both organic and inorganic growth strategies to grow and sustain in the flight data monitoring market. It also focuses on enhancing its R&D and offerings to make them compatible with multiple end users, widen its customer base, and strengthen its top line.
Teledyne Controls is among the key players that offer solutions, software, as well as hardware associated with FDM that meet numerous industry and international standards, such as ISO 9001, EASA -145, among others. The company offers hardware, software, and solutions associated with flight data monitoring. It works directly with aircraft manufacturers and supplies products to major OEMs, such as Airbus and Boeing. Acquiring new contracts and launching new products are some of the strategies adopted by the company to strengthen its position in the flight data monitoring market.
Flight Data Monitoring Market by Solution Type (On Board, On Ground), Component (FDM Service, FDM System, FDM Software), End User (Fleet Operators, Drone Operators, FDM Service Providers, Investigation Agencies), Region - Global Forecast to 2022
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