(Aviation-NewsWire.Com, April 12, 2019 ) 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.
The global flight tracking system market accounted to US$ 342.0 Mn in 2018 and is expected to grow at a CAGR of 5.6% during the forecast period 2019 - 2027, to account to US$ 549.7 Mn by 2027.
North America was the leading geographic flight tracking system market and it is anticipated to be the highest revenue contributor throughout the forecast period. Significant investments in the aerospace sector by Governments in the developed nations of US and Canada, is expected to fuel flight tracking system market in this region.
The major companies operating in the global market
1. Honeywell International Inc. 2. Aireon LLC 3. Rockwell Collins (United Technology Corporation) 4. Garmin, Ltd. 5. Flyht Aerospace Solutions Ltd 6. Spider Tracks Limited 7. Skytrac Systems Ltd. 8. Blue Sky Network
Recently in January 2019, Aviation Communications & Surveillance Systems, LLC (ACSS) announced the delivery of 10,000th production of its NXY mode-S transponder family. This in response has resulted in directives from the EASA and FAA to mandate the implementation of ADS-B to the aircrafts. The directive was the result of capabilities provided by ACSS, which is a joint venture between Thales and L3. The company offers products that facilitate the commercial, business and military aircrafts with the capability to operate in ADS-B airspace. Having achieve the benchmark of 10,000th NXT unit the market is projected to witness new aircrafts equipped with ADS-B out by early 2020.
The global flight tracking system market by system was led by ADS-B segment. The other systems for flight tracking market include FANS, ACARS, and PFTS. Automatic Dependent Surveillance-Broadcast (ADS-B) is among the advance surveillance technology available that is used for tracking aircraft. As per the technology the aircraft defines its own position through satellite navigation and broadcasts position reports within fixed intervals.
The flight tracking system market by end use is segmented into commercial and military sectors. Liberalization of the aviation system has achieved a noteworthy progress over the years, derived by the emergence of robust and competitive airports and carriers that are thriving to become more user-friendly, sustain the growth of air traffic, optimize air space and improve connectivity amid nations and regions. The liberalization has further enabled improvised choices resulting in competitive public travelling prices.
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