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Asia Pacific Flight Data Monitoring Systems Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component, Solution Type, and End User

Asia Pacific Flight Data Monitoring Systems Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component, Solution Type, and End User

  • March 2021
  • 118 pages
  • ID: 6064915
  • Format: PDF
  • The Insight Partners
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The flight data monitoring systems market in APAC is expected to grow from US$ 708.20 million in 2020 to US$ 1,252.96 million by 2027; it is estimated to grow at a CAGR of 9.5% from 2020 to 2027. The revenue generation curve for flight data monitoring services is showcasing an upward inclination in the current scenario and is expected to remain the same during the forecast period. The flight data monitoring systems require heavy investments and skilled resources for data collection and analysis. This sometimes pressurizes the fleet operators to cut costs in other areas of investments that are equally important. However, the flight data monitoring activities being one of the key activities, the deferment of the activity is not feasible. Thus, companies operating in the market are offering flight data monitoring services for customers to save their valuable time and expenses. Also, skilled resources are offered by service providers to enhance flight performance and operations. Flight data monitoring services are expanding their geographical reach and offering for the smallest airlines or fleet operators. For instance, in Customers can select Safran Electronics & Defense’s Cassiopée Flight Data Monitoring solution or L3Harris Technologies’ Flight Data Connect service for comprehensive flight data monitoring capabilities. The increased focus toward service offering can be a new trend in the market which can accelerate the market growth during the forecast period. Also, high demand for helicopter flight data monitoring (HFDM) systems is another major factor driving the APAC flight data monitoring systems market.

Based on end user, the fleet operators segment led the APAC flight data monitoring systems market in 2020.An aircraft fleet operator owns one or more aircraft, which are not chartered or leased to any other person for operation.

The flight data monitoring system is a robust tool for a fleet operator to monitor and enhance its operational safety.The system is a crucial part of a management system for a fleet operator, and it acts as a major data source for monitoring the operational safety level.

To evaluate how the data is used and analyzed by the fleet operator, the National Aviation Authority of the EASA Member State requests access to the safety meetings, where the flight data monitoring events and trends are reviewed.The International Civil Aviation Organization (ICAO) has established various standards and recommendation practices associated with flight data monitoring for commercial air transport fleet operators.

For instance, as per its recommendation, a fleet operator of an aircraft with 20,000 kg to 27,000 kg take-off mass should maintain a flight data analysis program as part of its safety management system.

The COVID-19 outbreak has adversely affected several countries in APAC such as South Korea, and India.A few countries such as China, India, South Korea, and Japan are increasingly moving toward the advancement of the commercial and defense aircraft industry.

Further, countries such as China and Japan increased their aircraft fleet owing to rising domestic and international flights.These countries is upgrading their flight data monitoring systems operations by adopting new systems and services for aircraft.

The governments of various countries also supported the smaller local air carriers to mitigate the outbreak of COVID-19, which helped market to sustain the growth.For instance, the government of South Korea announced the financial support of up to US$ 269 million for smaller local air carriers.

In addition, the government also provided the US$ 2.7 billion support to Asiana Airlines and Korean Air to stabilize the liquidity of both airlines. Thus COVID-19 is having adverse impact on APAC region for the flight data monitoring systems market.

The overall APAC flight data monitoring systems market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the APAC flight data monitoring systems market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the APAC flight data monitoring systems market. Curtiss-Wright Corporation, FLYHT Aerospace Solutions Ltd., Honeywell International Inc., L3Harris Technologies Inc., Safran Electronics & Defense, and Teledyne Controls LLC are among the key players operating in the market.

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