Market Dynamics:

Increasing air traffic remains a key driver for flight tracking system market. According to Airports Council International (ACI), the global passenger traffic grew by approximately 6.5% annually between 2013 and 2018 reaching the figure of over 8.8 billion passengers in 2019. Further, ACI estimates domestic passenger traffic to grow by 4.0% annually between 2018 and 2040 and international traffic to grow by 4.8% annually over the same period. Such robust rise in air traffic requires implementation of advanced tracking systems to ensure smooth operations and enhanced safety thereby driving demand for flight tracking systems over the coming years. In addition, increasing need for better visibility to monitor health and location of aircraft to enhance aviation safety is further expected to drive market growth over the forecast period.

Key Takeaways

The Global Flight Tracking System Market Size is expected to witness high growth over the forecast period of 2023 to 2030. Advances in technologies are driving innovations in flight tracking and increasing capabilities. The market size is projected to reach nearly US$ 825 Mn by 2030, expanding at a CAGR of 5.5% through the end of the forecast period.

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