Flight tracking systems provide real-time aircraft position and other flight data transmission for enhanced flight visibility and operations. The systems facilitate air traffic control and airline operations monitoring by transmitting automatic dependent surveillance-broadcast signals from aircraft. The global flight tracking system market requires continuous upgrades to meet the rising air traffic and ensuing demand for enhanced safety, efficiency, and connectivity.
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 driving the growth of the flight tracking system market is the increasing aircraft orders and passenger traffic globally. Major airlines are ordering newer aircraft to replace aging fleets and meet the rising number of air passengers. For instance, Boeing received over 14,000 new aircraft orders by 2036 as passenger traffic is projected to double in the next 15-20 years. Likewise, air traffic in countries like India and China is increasing at a rapid pace. This escalating air traffic is augmenting the demand for advanced flight tracking systems to enhance flight visibility for improving safety and efficiency. Flight tracking systems ensure real-time monitoring of daily flights, aiding smooth operations. The significant growth in aircraft orders and air passenger traffic will continue fueling the uptake of advanced flight tracking solutions in the coming years.
Segment Analysis
The global flight tracking system market comprises solutions such as ATC surveillance system, ADS-B, flight tracking service and others. Among these, ADS-B segment is expected to dominate the market during the forecast period. ADS-B system collects information such as flight identification, current position and altitude from aircraft and broadcasts it regularly. This information is available to Air Traffic Control and other properly equipped aircraft. ADS-B system provides more accurate information and also reduces dependency on radar system. Hence more number of airports and aircraft operators are installing ADS-B systems which is driving the growth of this segment.
Key Takeaways
The Global Flight Tracking System Market Size is expected to witness high growth during the forecast period. 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 dominates the global flight tracking system market currently due to strong presence of leading players in the region and modernization of air traffic infrastructure. Strict regulations regarding implementation of flight tracking systems are also driving the North America market growth. Asia Pacific is expected to offer lucrative opportunities owing to rising number of airports and aircraft fleet in countries like China and India. Government initiatives to modernize airspace will further propel the demand for advanced flight tracking solutions in Asia Pacific region over coming years.
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 offers next generation satellite surveillance technology through space based ADS-B. Garmin International provides popular portable and embedded flight tracking devices for general and commercial aviation. Rockwell Collins supplies integrated avionics systems with capabilities such as ADS-B In & Out for commercial aircraft.
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