by Flight tracking systems assist airlines and aircraft operators by continuously monitoring commercial flights in real-time. Flight tracking systems track billions of data points which enhances flight safety, improves operational efficiency, and optimizes aircraft maintenance. Global flight tracking systems monitor critical flight parameters such as flight path, speed, location, engine status, and helps airlines take necessary actions in case of any anomalies. The global flight tracking system market consists of a variety of products including ADS-B receivers, software applications, web portals, and surveillance cameras. Advancements in satellite technology and data analytics have enabled flight tracking systems to generate insights from voluminous aircraft data. Flight tracking solutions are extensively adopted across aviation industries for route optimization, scheduling, fleet management, and emergency response.
The global Flight Tracking System Market is estimated to be valued at US$ 493 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the flight tracking system market is the integration of AI and big data analytics. Flight tracking systems now incorporate advanced algorithms and machine learning tools to crunch huge amounts of flight data and provide predictive maintenance and operational insights. Airlines are leveraging AI-empowered flight tracking to schedule fleet maintenance, optimize routes, enhance fuel efficiency, and predict equipment failures. Advanced flight tracking powered by AI helps reduce operational costs, improve on-time performance, and elevate passenger experience for airlines.
Porter’s Analysis
Threat of new entrants: Low-High barriers to entry include the high investments required for technology, certification, infrastructure and need for established distribution channels.
Bargaining power of buyers: Moderate. Airlines can negotiate on prices and demand additional features due to their large fleet size. However, presence of many providers limits this power.
Bargaining power of suppliers: Low. Presence of several component manufacturers limits the suppliers’ control over pricing.
Threat of new substitutes: Moderate. Alternatives include ADS-B satellites and radio-technical land stations but none provide global coverage.
Competitive rivalry: High. Intense competition between key global players to offer advances technologies and services.
Key Takeaways
The Global Flight Tracking System Market Size is expected to witness high growth. The global Flight Tracking System Market is estimated to be valued at US$ 493 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.
North America region currently dominates the market due to stringent safety regulations for real-time aircraft tracking and growing aviation industry in the US. Growth opportunities exist in the Asia Pacific region supported by rising air passenger traffic and upcoming smart airport projects across China and India.
Key players operating in the flight tracking system market are 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. Aireon LLC provides advanced space-based ADS-B tracking system using Iridium satellites for global coverage. Spider Tracks Limited focuses on search and rescue services through its satellite tracking products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
