At 6.0% CAGR, South & Central America Flight Planning Software Market is Projected to be Worth US$ 74.29 Million by 2031, says Business Market Insights

According to Business Market Insights research, the South & Central America flight planning software market was valued at US$ 46.67 million in 2023 and is expected to reach US$ 74.29 million by 2031, registering a CAGR of 6.0% from 2023 to 2031. Increasing global aircraft fleet size and air traffic growth and rising deliveries of general aviation aircraft and helicopters are among the critical factors attributed to drive the South & Central America flight planning software market growth.

According to Airbus GMF 2024 study on global aircraft fleet and traffic, the aviation fleet is expected to grow from 24,260 aircraft in 2023 and reach 48,230 aircraft by 2043. This is owing to the continued growth in demand for air travel, building on the rapid recovery since COVID-19 travel restrictions. According to the study by Avolon, China, India, Asia, and South America are expected to show more than 3.5% growth in air travel from 2023 to 2042; however, South & Central America and Europe will register moderate growth between 2 and 3% during this timeframe. In addition, the massive rise in the number of aircraft fleets from the regions mentioned above is expected to create opportunities for key flight-planning software manufacturers across the globe. According to the Airbus GMF, the demand for new aircraft between 2024 and 2043 was valued at 42,430 units. Asia Pacific is expected to register 45.98% of the total demand for new aircraft during the study period, followed by Europe & CIS and South & Central America. Single Aisle body aircraft is expected to account for more than 80% of the total new aircraft demand globally from 2024 to 2043. In addition, the demand for freight aircraft is expected to be valued at 2,470 units during 2024–2043.

According to the ch-aviation GmbH data on aircraft fleet orders from across the world, in June 2023, the US accounted for the highest number of aircraft orders (excluding military aircraft and aircraft with unknown operator/engine) globally, with a total of 3,147 aircraft on order, followed by Ireland, China, and India with 1,247; 1,239; and 888 aircraft orders, respectively. According to the same data, the top five consumers with aircraft orders were United Airlines, IndiGo Airlines, Lion Air, Air Lease Corporation, and AirAsia. Such an increase in orders and the growth of the global aircraft fleet are expected to fuel the demand for flight planning software, creating opportunities for the key players operating in the market from 2023 to 2031. According to the Oliver Wyman analysis, the global commercial aircraft fleet currently stands at ~28,398 aircraft and is expected to reach ~36,413 aircraft by the end of 2034.

As per the Boeing Commercial Outlook 2024, air traffic is expected to increase from 2024 to 2043, dominated by South Asia and Southeast Asia, with a CAGR of 7.4% and 7.2%, respectively. This can be attributed to the rapid growth of air passengers and air cargo in the region. In addition, government initiatives to boost the tourism sector in regions such as South Asia and Southeast Asia are anticipated to further fuel the growth of air travelers and aircraft fleets in the region. Moreover, government initiatives toward the building and construction of new airports in Asia Pacific are expected to propel air traffic growth, thereby driving the demand for flight planning software from the region. Other regions contributing toward air traffic growth from 2024 to 2043, with a CAGR of nearly more than 5%, include China, Latin America, Africa, and the Middle East. Hence, the increasing global aircraft fleet size and air traffic growth are projected to generate new opportunities for software (digital solution) suppliers, including flight planning software providers, in the coming years.

On the contrary, the rising instances of cyberattacks on aviation sector hampers the growth of the South & Central America flight planning software market.

Based on deployment, the South & Central America flight planning software market is bifurcated into cloud and on-premise. The cloud segment held 78.5% market share in 2023, amassing US$ 27.79 million. It is projected to garner US$ 44.39 million by 2031 to register 6.0% CAGR during 2023–2031.

Based on component, the South & Central America flight planning software market is bifurcated into software and services. The software segment held 75.8% share of South & Central America flight planning software market in 2023, amassing US$ 35.40 million. It is anticipated to garner US$ 55.56 million by 2031 to expand at 5.8% CAGR during 2023–2031.

By application, the South & Central America flight planning software market is segmented into logistics and cargo, airport, private airlines, commercial airlines, flight school and training center, military and defense. The commercial airlines segment held 45.9% market share in 2023, amassing US$ 21.41 million. It is projected to garner US$ 36.24 million by 2031 to register 6.8% CAGR during 2023–2031.

By country, the South & Central America flight planning software market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 59.1% share of South & Central America flight planning software market in 2023. It was assessed at US$ 27.58 million in 2023 and is likely to hit US$ 45.69 million by 2031, registering a CAGR of 6.5% during 2023–2031.

Key players operating in the flight planning software market are 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. among others.

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