The growing adoption of flight tracking systems to enhance passenger safety and operations efficiency to power the growth of Flight Tracking System Market

Flight Tracking System Market


 Market Overview:

Flight tracking systems help airlines and aircraft manufacturers to effectively monitor their aircraft fleet in real-time. These systems use various technologies like ADS-B, satellite-based aircraft surveillance, and multi-sensor fusion for continuous tracking of commercial and private aircraft. They provide crucial flight data like aircraft identification, real-time position, altitude, speed, flight path, and timestamp. This aids air traffic control centers and operators to efficiently manage air traffic. The real-time tracking also helps in search and rescue operations in case of any emergencies.

Market key trends:
One of the key trends in the Flight Tracking System Market Demand is the growing adoption of ADS-B technology. Automatic Dependent Surveillance – Broadcast (ADS-B) is a surveillance technology in which an aircraft determines its position via satellite navigation and periodically broadcasts it, enabling it to be tracked. With the mandates by regulatory bodies worldwide to install ADS-B avionics on aircraft, its adoption is increasing rapidly. This is positively impacting the demand for ADS-B ground stations to receive and monitor aircraft broadcasts. Additionally, the development of advanced satellite-based tracking solutions is another major trend. Companies are integrating machine learning and artificial intelligence capabilities with satellite data to offer more accurate and reliable flight information services.
Porter’s Analysis

Threat of new entrants: The threat of new entrants is low in the flight tracking system market due to high initial investment required for hardware deployment and establishing network connectivity.

Bargaining power of buyers: The bargaining power of buyers is moderate. While there are many established players, buyers have limited options to select suppliers based on specific technologies.

Bargaining power of suppliers: The bargaining power of suppliers is also moderate. Suppliers have to meet international standards and regulatory approvals which limit their options to bargain on pricing and other aspects.

Threat of new substitutes: Threat from substitutes is low as there are no direct alternatives to real-time flight tracking. Existing substitutes only offer partial solutions.

Competitive rivalry: Competition in the market is intense with presence of established global players.

Key Takeaways

The global flight tracking system market is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing air traffic and need for improved safety and efficiency.

The North American region currently dominates the flight tracking system market owing to stringent aircraft safety regulations in the US and Canada. Asia Pacific is expected to witness the fastest growth during the forecast period, supported by rising air traffic and investments in general aviation sectors in countries like China and India.

Key players operating in the flight tracking system market include Aireon LLC, Spider Tracks Limited, BLUE SKY NETWORK, SKY TRAC SYSTEMS LTD, FLYHT Aerospace Solutions Ltd., Rockwell Collins, Garmin International Inc., and Honeywell International Inc. These players are focusing on developing advanced technologies and establishing global connectivity networks to gain higher market share.

Read More:

https://www.dailyprbulletin.com/the-growth-of-flight-tracking-system-market/

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