diff --git a/cpp/src/arrow/flight/client.cc b/cpp/src/arrow/flight/client.cc
index 2003d778052..e33b6c3fd07 100644
--- a/cpp/src/arrow/flight/client.cc
+++ b/cpp/src/arrow/flight/client.cc
@@ -259,6 +259,14 @@ class ClientStreamReader : public FlightStreamReader {
     }
     return batches;
   }
+
+  arrow::ipc::ReadStats stats() const override {
+    if (batch_reader_ == nullptr) {
+      return ipc::ReadStats{};
+    }
+    return batch_reader_->stats();
+  }
+
   arrow::Result<std::shared_ptr<Table>> ToTable() override {
     return ToTable(stop_token_);
   }
@@ -278,7 +286,7 @@ class ClientStreamReader : public FlightStreamReader {
   StopToken stop_token_;
   std::shared_ptr<MemoryManager> memory_manager_;
   std::shared_ptr<internal::PeekableFlightDataReader> peekable_reader_;
-  std::shared_ptr<ipc::RecordBatchReader> batch_reader_;
+  std::shared_ptr<ipc::RecordBatchStreamReader> batch_reader_;
   std::shared_ptr<Buffer> app_metadata_;
 };
 
diff --git a/cpp/src/arrow/flight/client.h b/cpp/src/arrow/flight/client.h
index ae6011b117a..3ad9f26275b 100644
--- a/cpp/src/arrow/flight/client.h
+++ b/cpp/src/arrow/flight/client.h
@@ -141,6 +141,10 @@ class ARROW_FLIGHT_EXPORT FlightStreamReader : public MetadataRecordBatchReader
   using MetadataRecordBatchReader::ToTable;
   /// \brief Consume entire stream as a Table
   arrow::Result<std::shared_ptr<Table>> ToTable(const StopToken& stop_token);
+
+  using MetadataRecordBatchReader::stats;
+  /// \brief Return current read statistics
+  virtual arrow::ipc::ReadStats stats() const = 0;
 };
 
 // Silence warning
diff --git a/cpp/src/arrow/flight/transport_server.cc b/cpp/src/arrow/flight/transport_server.cc
index b58e6a58b13..197def7cabd 100644
--- a/cpp/src/arrow/flight/transport_server.cc
+++ b/cpp/src/arrow/flight/transport_server.cc
@@ -137,6 +137,13 @@ class TransportMessageReader final : public FlightMessageReader {
     return out;
   }
 
+  ipc::ReadStats stats() const override {
+    if (batch_reader_ == nullptr) {
+      return ipc::ReadStats{};
+    }
+    return batch_reader_->stats();
+  }
+
  private:
   /// Ensure we are set up to read data.
   Status EnsureDataStarted() {
@@ -157,7 +164,7 @@ class TransportMessageReader final : public FlightMessageReader {
   FlightDescriptor descriptor_;
   std::shared_ptr<internal::PeekableFlightDataReader> peekable_reader_;
   std::shared_ptr<MemoryManager> memory_manager_;
-  std::shared_ptr<RecordBatchReader> batch_reader_;
+  std::shared_ptr<ipc::RecordBatchStreamReader> batch_reader_;
   std::shared_ptr<Buffer> app_metadata_;
 };
 
@@ -233,9 +240,6 @@ class TransportMessageWriter final : public FlightMessageWriter {
       return MakeFlightError(FlightStatusCode::Internal,
                              "Could not write metadata to stream (client disconnect?)");
     }
-    // Those messages are not written through the batch writer,
-    // count them separately to include them in the stats.
-    extra_messages_++;
     return Status::OK();
   }
 
@@ -259,9 +263,7 @@ class TransportMessageWriter final : public FlightMessageWriter {
 
   ipc::WriteStats stats() const override {
     ARROW_CHECK_NE(batch_writer_, nullptr);
-    auto write_stats = batch_writer_->stats();
-    write_stats.num_messages += extra_messages_;
-    return write_stats;
+    return batch_writer_->stats();
   }
 
  private:
@@ -276,7 +278,6 @@ class TransportMessageWriter final : public FlightMessageWriter {
   std::unique_ptr<ipc::RecordBatchWriter> batch_writer_;
   std::shared_ptr<Buffer> app_metadata_;
   ::arrow::ipc::IpcWriteOptions ipc_options_;
-  int64_t extra_messages_ = 0;
 };
 
 /// \brief Adapt TransportDataStream to the FlightMetadataWriter
diff --git a/cpp/src/arrow/flight/types.h b/cpp/src/arrow/flight/types.h
index 656cc00e676..d498ac67f7a 100644
--- a/cpp/src/arrow/flight/types.h
+++ b/cpp/src/arrow/flight/types.h
@@ -47,6 +47,7 @@ class Table;
 
 namespace ipc {
 class DictionaryMemo;
+struct ReadStats;
 }  // namespace ipc
 
 namespace util {
@@ -1179,6 +1180,9 @@ class ARROW_FLIGHT_EXPORT MetadataRecordBatchReader {
 
   /// \brief Consume entire stream as a Table
   virtual arrow::Result<std::shared_ptr<Table>> ToTable();
+
+  /// \brief Return current read statistics
+  virtual arrow::ipc::ReadStats stats() const = 0;
 };
 
 /// \brief Convert a MetadataRecordBatchReader to a regular RecordBatchReader.
diff --git a/python/pyarrow/_flight.pyx b/python/pyarrow/_flight.pyx
index fe2e1b3d674..836e78c520d 100644
--- a/python/pyarrow/_flight.pyx
+++ b/python/pyarrow/_flight.pyx
@@ -1118,6 +1118,19 @@ cdef class _MetadataRecordBatchReader(_Weakrefable, _ReadPandasMixin):
 
         return reader
 
+    @property
+    def stats(self):
+        """
+        Current Flight read statistics.
+
+        Returns
+        -------
+        ReadStats
+        """
+        if not self.reader:
+            raise ValueError("Operation on closed reader")
+        return _wrap_read_stats((<CMetadataRecordBatchReader*> self.reader.get()).stats())
+
 
 cdef class MetadataRecordBatchReader(_MetadataRecordBatchReader):
     """The base class for readers for Flight streams.
diff --git a/python/pyarrow/includes/libarrow_flight.pxd b/python/pyarrow/includes/libarrow_flight.pxd
index b1af6bcb4fa..caf1f67cf8b 100644
--- a/python/pyarrow/includes/libarrow_flight.pxd
+++ b/python/pyarrow/includes/libarrow_flight.pxd
@@ -202,6 +202,7 @@ cdef extern from "arrow/flight/api.h" namespace "arrow" nogil:
         CResult[shared_ptr[CSchema]] GetSchema()
         CResult[CFlightStreamChunk] Next()
         CResult[shared_ptr[CTable]] ToTable()
+        CIpcReadStats stats() const
 
     CResult[shared_ptr[CRecordBatchReader]] MakeRecordBatchReader\
         " arrow::flight::MakeRecordBatchReader"(
diff --git a/python/pyarrow/ipc.pxi b/python/pyarrow/ipc.pxi
index d57a899b58d..9608194303d 100644
--- a/python/pyarrow/ipc.pxi
+++ b/python/pyarrow/ipc.pxi
@@ -125,7 +125,6 @@ class ReadStats(_ReadStats):
     __slots__ = ()
 
 
-@staticmethod
 cdef _wrap_read_stats(CIpcReadStats c):
     return ReadStats(c.num_messages, c.num_record_batches,
                      c.num_dictionary_batches, c.num_dictionary_deltas,
diff --git a/python/pyarrow/lib.pxd b/python/pyarrow/lib.pxd
index cbdac7f1020..2e397cca043 100644
--- a/python/pyarrow/lib.pxd
+++ b/python/pyarrow/lib.pxd
@@ -48,6 +48,9 @@ cdef class IpcReadOptions(_Weakrefable):
         CIpcReadOptions c_options
 
 
+cdef _wrap_read_stats(CIpcReadStats c)
+
+
 cdef class Message(_Weakrefable):
     cdef:
         unique_ptr[CMessage] message
diff --git a/python/pyarrow/tests/test_flight.py b/python/pyarrow/tests/test_flight.py
index b1fa2fb310a..bcaf9dcad9b 100644
--- a/python/pyarrow/tests/test_flight.py
+++ b/python/pyarrow/tests/test_flight.py
@@ -36,7 +36,7 @@
 import pytest
 import pyarrow as pa
 
-from pyarrow.lib import IpcReadOptions, tobytes
+from pyarrow.lib import IpcReadOptions, ReadStats, tobytes
 from pyarrow.util import find_free_port
 from pyarrow.tests import util
 
@@ -185,6 +185,7 @@ def do_get(self, context, ticket):
     def do_put(self, context, descriptor, reader, writer):
         counter = 0
         expected_data = [-10, -5, 0, 5, 10]
+        assert reader.stats.num_messages == 1
         for batch, buf in reader:
             assert batch.equals(pa.RecordBatch.from_arrays(
                 [pa.array([expected_data[counter]])],
@@ -195,6 +196,8 @@ def do_put(self, context, descriptor, reader, writer):
             assert counter == client_counter
             writer.write(struct.pack('<i', counter))
             counter += 1
+        assert reader.stats.num_messages == 6
+        assert reader.stats.num_record_batches == 5
 
     @staticmethod
     def number_batches(table):
@@ -421,6 +424,7 @@ def __init__(self, options=None, **kwargs):
         self.options = options
 
     def do_exchange(self, context, descriptor, reader, writer):
+        assert reader.stats.num_messages == 0
         if descriptor.descriptor_type != flight.DescriptorType.CMD:
             raise pa.ArrowInvalid("Must provide a command descriptor")
         elif descriptor.command == b"echo":
@@ -449,11 +453,14 @@ def exchange_do_put(self, context, reader, writer):
         for chunk in reader:
             if not chunk.data:
                 raise pa.ArrowInvalid("All chunks must have data.")
+            assert reader.stats.num_messages != 0
             num_batches += 1
+        assert reader.stats.num_record_batches == num_batches
         writer.write_metadata(str(num_batches).encode("utf-8"))
 
     def exchange_echo(self, context, reader, writer):
         """Run a simple echo server."""
+        assert reader.stats.num_messages == 0
         started = False
         for chunk in reader:
             if not started and chunk.data:
@@ -464,16 +471,19 @@ def exchange_echo(self, context, reader, writer):
             elif chunk.app_metadata:
                 writer.write_metadata(chunk.app_metadata)
             elif chunk.data:
+                assert reader.stats.num_messages != 0
                 writer.write_batch(chunk.data)
             else:
                 assert False, "Should not happen"
 
     def exchange_transform(self, context, reader, writer):
         """Sum rows in an uploaded table."""
+        assert reader.stats.num_messages == 0
         for field in reader.schema:
             if not pa.types.is_integer(field.type):
                 raise pa.ArrowInvalid("Invalid field: " + repr(field))
         table = reader.read_all()
+        assert reader.stats.num_messages != 0
         sums = [0] * table.num_rows
         for column in table:
             for row, value in enumerate(column):
@@ -1170,8 +1180,17 @@ def test_flight_do_get_dicts():
 
     with ConstantFlightServer() as server, \
             flight.connect(('localhost', server.port)) as client:
-        data = client.do_get(flight.Ticket(b'dicts')).read_all()
+        reader = client.do_get(flight.Ticket(b'dicts'))
+        assert reader.stats.num_messages == 1
+        data = reader.read_all()
         assert data.equals(table)
+        assert reader.stats == ReadStats(
+            num_messages=6,
+            num_record_batches=3,
+            num_dictionary_batches=2,
+            num_dictionary_deltas=0,
+            num_replaced_dictionaries=1
+        )
 
 
 def test_flight_do_get_ticket():
@@ -2090,6 +2109,8 @@ def test_doexchange_put():
             assert chunk.data is None
             expected_buf = str(len(batches)).encode("utf-8")
             assert chunk.app_metadata == expected_buf
+            # Metadata only message is not counted as an ipc data message
+            assert reader.stats.num_messages == 0
 
 
 def test_doexchange_echo():
@@ -2114,12 +2135,15 @@ def test_doexchange_echo():
 
             # Now write data without metadata.
             writer.begin(data.schema)
+            num_batches = 0
             for batch in batches:
                 writer.write_batch(batch)
                 assert reader.schema == data.schema
                 chunk = reader.read_chunk()
                 assert chunk.data == batch
                 assert chunk.app_metadata is None
+                num_batches += 1
+                assert reader.stats.num_record_batches == num_batches
 
             # And write data with metadata.
             for i, batch in enumerate(batches):
@@ -2128,6 +2152,8 @@ def test_doexchange_echo():
                 chunk = reader.read_chunk()
                 assert chunk.data == batch
                 assert chunk.app_metadata == buf
+                num_batches += 1
+                assert reader.stats.num_record_batches == num_batches
 
 
 def test_doexchange_echo_v4():
@@ -2539,36 +2565,56 @@ def received_headers(self, headers):
 
 
 def test_flight_dictionary_deltas_do_exchange():
+    expected_stats = {
+        'dict_deltas': ReadStats(
+            num_messages=6,
+            num_record_batches=3,
+            num_dictionary_batches=2,
+            num_dictionary_deltas=1,
+            num_replaced_dictionaries=0
+        ),
+        'dict_replacement': ReadStats(
+            num_messages=6,
+            num_record_batches=3,
+            num_dictionary_batches=2,
+            num_dictionary_deltas=0,
+            num_replaced_dictionaries=1
+        )
+    }
+
     class DeltaFlightServer(ConstantFlightServer):
         def do_exchange(self, context, descriptor, reader, writer):
+            expected_table = simple_dicts_table()
+            received_table = reader.read_all()
+            assert received_table.equals(expected_table)
+            assert reader.stats == expected_stats[descriptor.command.decode()]
             if descriptor.command == b'dict_deltas':
-                expected_table = simple_dicts_table()
-                received_table = reader.read_all()
-                assert received_table.equals(expected_table)
-
                 options = pa.ipc.IpcWriteOptions(emit_dictionary_deltas=True)
                 writer.begin(expected_table.schema, options=options)
-                # TODO: GH-47422: Inspect ReaderStats once exposed and validate deltas
+                writer.write_table(expected_table)
+            if descriptor.command == b'dict_replacement':
+                writer.begin(expected_table.schema)
                 writer.write_table(expected_table)
 
     with DeltaFlightServer() as server, \
             FlightClient(('localhost', server.port)) as client:
         expected_table = simple_dicts_table()
+        for command in ["dict_deltas", "dict_replacement"]:
+            descriptor = flight.FlightDescriptor.for_command(command)
+            writer, reader = client.do_exchange(
+                descriptor,
+                options=flight.FlightCallOptions(
+                    write_options=pa.ipc.IpcWriteOptions(
+                        emit_dictionary_deltas=True)
+                )
+            )
+            # Send client table with dictionary updates
+            with writer:
+                writer.begin(expected_table.schema, options=pa.ipc.IpcWriteOptions(
+                    emit_dictionary_deltas=(command == "dict_deltas")))
+                writer.write_table(expected_table)
+                writer.done_writing()
+                received_table = reader.read_all()
 
-        descriptor = flight.FlightDescriptor.for_command(b"dict_deltas")
-        writer, reader = client.do_exchange(descriptor,
-                                            options=flight.FlightCallOptions(
-                                                write_options=pa.ipc.IpcWriteOptions(
-                                                    emit_dictionary_deltas=True)
-                                            )
-                                            )
-        # Send client table with dictionary updates (deltas should be sent)
-        with writer:
-            writer.begin(expected_table.schema, options=pa.ipc.IpcWriteOptions(
-                emit_dictionary_deltas=True))
-            writer.write_table(expected_table)
-            writer.done_writing()
-            received_table = reader.read_all()
-
-        # TODO: GH-47422: Inspect ReaderStats once exposed and validate deltas
-        assert received_table.equals(expected_table)
+            assert received_table.equals(expected_table)
+            assert reader.stats == expected_stats[command]