PUBLISHER: The Insight Partners | PRODUCT CODE: 1843329
PUBLISHER: The Insight Partners | PRODUCT CODE: 1843329
The Asia Pacific flight planning software market was valued at approximately US$ 236.22 million in 2023 and is projected to grow to around US$ 453.51 million by 2031, reflecting a compound annual growth rate (CAGR) of 8.5% during the forecast period from 2023 to 2031.
Drivers of Market Growth
A significant factor driving the growth of the Asia Pacific flight planning software market is the increasing investment in military infrastructure and fleet expansion. The changing dynamics of modern warfare have compelled governments to allocate substantial resources to enhance their defense capabilities. This includes funding for advanced technologies and equipment, which in turn supports the modernization of military vehicles and infrastructure.
In 2023, global military expenditure reached US$ 2,332 billion, marking a 6% increase from the previous year, according to the Stockholm International Peace Research Institute (SIPRI). Major military spenders such as the US, China, India, Russia, the UK, and Saudi Arabia have been actively investing in new military bases and airports to bolster their operational capabilities. This surge in military spending is expected to create opportunities for flight planning software providers as governments invest in new military infrastructure and fleet enhancements.
Growth in Civil Aviation
In addition to military investments, the civil aviation sector in the Asia Pacific region is also experiencing significant growth. China, as a major player in the global market, is expanding its aircraft fleet to meet the rising demand for cargo transportation. For instance, in June 2023, China Airlines placed firm orders for eight Boeing 787 passenger aircraft, which will increase their fleet to 24 by 2028. Furthermore, the Chinese government is committed to enhancing its airport infrastructure, with plans to add 400 airports by 2035 and address capacity issues at existing airports.
The Civil Aviation Administration of China (CAAC) has identified that many of the largest airports in the country require renovation or expansion, which aligns with the government's 14th Five-Year Plan that includes 140 airport projects by 2025. These developments are expected to drive demand for flight planning software, as airlines and airports seek to optimize flight schedules, routes, and fuel efficiency.
Market Segmentation
The Asia Pacific flight planning software market can be segmented based on deployment, application, component, and country:
Key Players in the Market
Prominent companies in the Asia Pacific flight planning software market include CAE Inc., Collins Aerospace, NAV Flight Services LLC, Jeppesen Sanderson, Inc., Sabre Corp, NAVBLUE, FSS GmbH, Laminaar Aviation Infotech Pte Ltd, Chetu Inc., AIMS INTL DWC LLC, eTT Aviation, ForeFlight LLC, Amadeus IT Group SA, Universal Weather and Aviation, Inc., Airsupport A/S, Deutsche Lufthansa AG, and RocketRoute Ltd. These companies are at the forefront of providing innovative flight planning solutions to meet the growing demands of the aviation industry.