North America Flight Data Monitoring Systems Market is expected to reach US$ 2,012.23 million by 2027

Hardware Segment to Dominate North America Flight Data Monitoring Systems Market during 2020–2027

According to The Insight Partners market research study on “North America Flight Data Monitoring Systems Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component, Solution Type, and End User” is expected to reach US$ 2,012.23 million by 2027 from US$ 1,311.56 million in 2020. The market is estimated to grow at a CAGR of 6.9% from 2020 to 2027. The report provides trends prevailing in the North America flight data monitoring systems market along with the drivers and restraints pertaining to the market growth. Rising demand for flight safety solutions is the major factor driving the growth of the North America flight data monitoring systems market. However, issues associated with expensive flight data monitoring systems and availability of alternative solutions hinders the growth of North America flight data monitoring systems market.

The North America flight data monitoring systems market is segmented based on component, solution type, end user. Based on component, the North America market is segmented into hardware, software, and service. Hardware segment held the largest market share in 2020. Based on solution type, the North America market is segmented into on-board and ground. On board segment held the largest market share in 2020. In terms of end user, the market is segmented into fleet operators, drone operators, and investigation agencies. Fleet operators segment held the largest market share in 2020.

The ongoing COVID-19 is having a very devastating impact across North America. The North American market suffered the huge economic loss in the first half of 2020 owing to the high number of COVID-19 cases, specifically in the US. The economic growth has lowered that delayed the ongoing projects of commercial and defense upgradation. The US is one of the major exporters of aircraft but owing to disrupted supply chain and lowering economic conditions of importing countries, the country is witnessing lower export revenue. Enhancing trade relation to support international supply post lockdown helped market to regain its position. The limiting strength of workforce due to physical distancing model hampered the production activities in country. The low demand for aircraft created severe impact on the aircraft manufacturing companies. For instance, Boeing company expected lower demand from market than their previous prediction amid COVID-19. In new report, the company predicted 11% drop in demand from its forecast a year ago. Such lowering demand and sale of aircraft has direct negative impact on the adoption of flight data monitoring systems and services, which hinders the growth of the flight data monitoring systems market in North America.

Appareo; Curtiss-Wright Corporation; FLYHT Aerospace Solutions Ltd.; Guardian Mobility; Honeywell International Inc.; L3Harris Technologies Inc.; Safran Electronics & Defense; Scaled Analytics Inc.; Skytrac Systems Ltd.; and Teledyne Controls LLC are among the leading companies in the North America flight data monitoring systems market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, The Appareo is providing the aircraft communication units (ACUs) for the Bell 407GXi and Bell 429 helicopters.

The report segments the North America Flight Data Monitoring Systems Market follows:

North America Flight Data Monitoring Systems Market – By Component

• Hardware
• Software
• Services

North America Flight Data Monitoring Systems Market – By Solution Type

• On Board
• Ground

North America Flight Data Monitoring Systems Market – By End User

• Fleet Operators
• Drone Operators
• Investigation Agencies

North America Flight Data Monitoring Systems Market – By Country

• US
• Canada
• Mexico