Global Flight Tracking System Market is likely to witness tremendous growth by 2027 with a CAGR of 5.6%

PUNE, MAHARASHTRA, INDIA, December 18, 2019 /EINPresswire.com/ -- Latest market study on "Flight Tracking System Market to 2027 by System (ADS-B, FANS, ACARS, and PFTS); and End-use (Commercial and Military) - Global Analysis and Forecast". The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

The flight tracking system market is accounted to reach US$ 549.7 Mn by 2027 from US$ 342.0 Mn in 2018.

The global aerospace and defense industry in 2018 had recuperated and experienced a noteworthy year in terms of strengthening passenger travel demand, and rising worldwide military expenditures. For the coming years the industry is expected to continue to experience the growth trajectory led by commercial aerospace production and robust defense spending. For the commercial sector the all-time high aircraft order backlog owing to the increasing demand for fuel efficient, and next generation aircrafts is anticipate to rise with surge in oil prices. With the aircraft backlog at its peak, manufacturers are expected to ramp up production rates, hence, driving growth in the sector. However, manufacturers could experience supply chain interruptions as some suppliers may struggle to increase production to keep up with the growing backlog. In the defense sector, heightened global tensions and geopolitical risks, recovery in the US defense budget, and higher defense spending by other major regional powers such as China, India, and Japan are expected to drive global defense sector growth in 2019 and beyond.

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On the rare occasions when accidents occur, rescuing survivors has the highest priority, followed by the recovery of casualties, the wreckage and the flight recorders. Analysis of data from these recorders is very important in supporting accident investigation which may, through identification of the cause of the accident, contribute towards enhancing safety. To achieve this intent, an effective and globally consistent approach to improving the alerting of search and rescue services is essential.

The global market for flight tracking system is segmented on the basis of system and end-use, and geography. Based on system, ADS-B segment dominates the flight tracking system market heavily and is expected to continue its dominance throughout the forecast period from 2019 - 2027. On the basis of end-use, commercial segment is expected to witness a significant growth rate in the coming years, however, military is projected to be the fastest-growing segment.

Until now the FAA and DoD have been more focused upon equipping the military aircrafts with the ADS-B Out technology, whereas the GAO continues to raise concerns regarding the mitigation of security risks. This uncertainty with respect to the technology in the military has created a challenging situation for the companies catering to military fields. However, as the January 2021 amendment affirms its implementation the demand for Flight Tracking systems is likely to continue its trajectory in during the forecast period.

Some of the key players included in the flight system tracking market are Honeywell International Inc., Aireon LLC, Rockwell Collins, Garmin International Inc., Flyht Aerospace Solutions Ltd., Spider Tracks Limited, Sky Trac Systems Ltd., and Blue Sky Network, among others.

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The report segments the global flight tracking system market as follows:

Global Flight Tracking System Market - By System
Automatic Dependent Surveillance-Broadcast (ADS-B)
Future Air Navigation System (FANS)
Aircraft Communications Addressing and Reporting System (ACARS)
Portable Flight Tracking System (PFTS)

Global Flight Tracking System Market - By End-User
Commercial
Military

Sameer Joshi
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