The global flight data monitoring and analysis market is projected to grow from US$ 1.1 Bn in 2021 to US$ 1.2 Bn by 2022. The market is expected to reach US$ 2.7 Bn by 2032 while recording a CAGR of 8.6% during the forecast period from 2022 to 2032.
Growing demand for software to analyze flight data in the ground-based market drives the FDMA market. By utilizing FDMA, fuel consumption was improved, accident fatalities were decreased, maintenance costs were minimized, and aircrew training was enhanced.
Modern aircraft systems integrate software to boost performance, safety, and reduce maintenance costs. A growing number of data security concerns, along with an increasing number of blockchain systems and artificial intelligence and machine learning projects, are driving FDMA market growth.
FDMA has seen a further increase in market growth due to an increase in the demand for reducing fight accidents in order to save either material losses or insurance costs in the fight industry.
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· The global flight data monitoring and analysis market is currently valued at US$ 2.7 Bn, with a CAGR of 8.6% during the forecast period.
· Japan is expected to record a CAGR of 11.4% between 2022 and 2032.
· Civil flight data monitoring and analysis segment will grow at a CAGR of 9% during the forecast period
· In China, the market is expected to reach US$ 35.4 million by the end of 2032 the forecast period.
· The Brazilian market recorded a CAGR of 7.9% during the forecast period.