Market - - Jun 23,2017
As per precise studies, the ADS-B segment in the worldwide global tracking system is likely to rise at an effective CAGR till 2021.
In the current times, the flight tracking system market is witnessing strong boom due to the demand from various sectors such as healthcare, consumer goods, life science, retail, IT-telecommunication, travel-tourism, media as well as entertainment.
As per a recent study published by Market Research Reports Search Engine (MRRSE), the ADS-B segment from the global flight tracking system market is estimated to hike at an impressive CAGR in till 2021. If this pace is retained, the market would grow at a high CAGR of 6.5% by the end of 2026. The report also reveals that the ADS-B segment holds the potential to remain the topmost segment during the period until 2026.
It has been studied that, the overall market is primarily attributed to surge due to rising safety concerns as well as substantial increase in aircraft sales on the global scenario. Also, flight tracking systems are presented as a standard fit in majority of the latest commercial aircraft. These are also being installed at a prominent rate in the existing fleet size because of stringent government regulations.
Further, the increase in passenger travel demand, primarily in the Middle East and Asia Pacific regions is powering the total demand for new aircraft, hence contributing to the revenue growth of the particular ADS-B segment. Also, considering the geographical expanse, the U.S. market is primarily pushed by stringent government regulations to arm aircraft with ADS-B capability for improved surveillance capabilities. Looking deep into this sector, the rising aircraft production in the country and demand from different regions to equip aircraft with progressive tracking solutions is also driving the market to newer heights.
For more information on this report visit- http://www.mrrse.com/flight-tracking-system-market