New Product Developments and Acquiring Long-Term Contracts Were the Key Strategies Adopted By Industry Players to Grow in the FI Market
The Flight Inspection (FI) market is estimated to grow from an estimated USD 4.51 Billion in 2017 to USD 5.57 Billion in 2022, at a CAGR of 4.31% during the forecast period. The FI market is a diversified and a competitive market with a large number of players. Factors such as increasing spending on airport infrastructure development and existing airport modernization programs as well as increasing flight inspection activities are expected to drive the FI market in the coming years.
New product developments and acquiring long-term contracts were the key strategies adopted by industry players to grow in the FI market. Companies dealing in the FI systems and services market relied upon long-term opportunities from the emerging economies. Their core competency is their widespread geographical presence.
The key players in the FI market have been identified through the annual market revenue generated by these companies from various business segments, and from the delivery of flight inspection systems and the flight inspection services provided to various airports. America’s and Europe are the leading markets for FI market.
Textron (US), Bombardier (Canada), Aerodata AG (Germany), and Norwegian Special Mission (Norway) are the leading players in the FI market.
Aerodata AG, founded in 1985, operates in the flight inspection and services business through two of its subsidiaries, namely, Normarc Flight Inspection Services and AeroPearl PTV Ltd.
Founded in 1923, Textron Inc. is headquartered in Rhode Island (US). The company has its presence in aircraft, defense, finance, and industrial sectors. The company serves its customers through research, design, development, manufacture, and integration of advanced technology systems and related products and services in the aerospace, defense, security, and advanced technologies sectors. It provides customized aircraft for flight inspection under the brand of Cessna & Beechcraft aircraft.
Bombardier Inc. was founded in 1902 and is headquartered Montreal, Canada. It is a global transportation and aerospace company and a large manufacturer of mass transportation equipment, regional airliners, business jets. The company is active in the areas of defense, government electronics, and information technology. Bombardier Aerospace formed a partnership with avMax Group, NAV CANADA, and GE Commercial Aviation Services (GECAS) to integrate, finance, and support the modification of old CRJ 200 aircraft to FIS aircraft.
Norwegian Special Mission is a Norwegian global flight inspection technology company formed in 2003 in Akershus, Norway. The company has 48 employees and is a private company with Sundt as the main investor. It provides tailored products for flight inspection to its clients. Some of the products of the company include UNIFIS 3000 Flight Inspection System and SEAHUNTER 8000 Air surveillance system.
Related Reports:
Flight Inspection (FI) Market by Solution (System, & Services), End User (Commercial Airports, Defense Airports), Services Type (Commissioning, Routine, Special Inspection), System Type (Fixed, Mobile, Ground-based) and Region - Global Forecast to 2022
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