July 11, 2024
Flight Tracking System Market

Tracking air traffic remotely: The Flight Tracking System Market is driven by increasing air travel

Flight tracking systems allow air traffic controllers and operators to remotely monitor commercial and private aircraft in real-time. These systems use technologies like aircraft transponders, Global Navigation Satellite Systems (GNSS), and Automatic Dependent Surveillance-Broadcast (ADS-B) to determine an aircraft’s location, speed, altitude and other key flight data. Embedded with sensors and communication equipment, flight tracking systems enhance flight safety and efficiency. They allow airlines to optimize flight plans, detect deviations and reduce operational costs through factors monitoring.
The global Flight Tracking System Market is estimated to be valued at US$ 493 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Next generation flight tracking is gaining prominence with the integration of advanced technologies like Internet of Things (IoT) devices and artificial intelligence. IoT enabled sensors installed in aircrafts facilitate real-time data transmission to ground stations for comprehensive flight monitoring. Meanwhile, AI applications help analyze collected flight data to detect anomalies, predict equipment failures and streamline maintenance activities. This brings more accurate tracking and enhances operational visibility.
Another developing trend is the adoption of satellite-based flight tracking. While current systems majorly utilize ground-based surveillance, satellite connectivity provides seamless coverage globally without any geographical limitations. Notable companies are launching dedicated flight tracking satellites to cater growing requirements from aviation sectors. This shift towards space-based monitoring marks the future of flight tracking.

Porter’s Analysis

Threat of new entrants: Low-moderate. Significant capital requirements for hardware infrastructure and regulatory approvals pose a barrier to entry.

Bargaining power of buyers: Moderate. Large airlines can negotiate better pricing but individual travelers have limited influence.

Bargaining power of suppliers: Low. Few suppliers dominate the global market with proprietary technologies.

Threat of new substitutes: Low. No viable alternatives currently exist for monitoring commercial and private aircraft globally.

Competitive rivalry: High. Major players compete on technology innovations, service quality, and pricing.

Key Takeaways

The Global Flight Tracking System Market Share is expected to witness high growth over the forecast period of 2023 to 2030. The global Flight Tracking System Market is estimated to be valued at US$ 493 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030.
North America currently dominates the market due to strong presence of aviation industry and government support for aviation security in the region. Europe and Asia Pacific are also significant and fast growing markets for flight tracking systems.

Key players operating in the flight tracking system market include Bekaert, CEMEX SAB de CV, GCP Applied Technologies Inc., MBCC Group KrampeHarex GmbH & Co. KG, Nycon, Sika AG, and The Euclid Chemical Company. These players are focusing on technological advancements such as implementation of AI, big data and IoT to improve flight tracking and boost operational efficiencies.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it