Global Connected Aircraft market is projected to grow at a CAGR of 19.5% By 2032: Visiongain Reports Ltd
August 5, 2022
/EIN News/ -- Visiongain has published a new report entitled the Connected Aircraft 2022-2032. It includes profiles of Connected Aircraft and Forecasts Market Segment by Systems, (Satellite Communication Solution, Data Management Solution, Other System) Market Segment by Application (Passenger Aircraft, Cargo Aircraft, Military Aircraft, Personal Aircraft, Others) Market Segment by Solution (Fuel Monitoring Solution, Flight Management Solution, Electronic Flight Bags, Aircraft Monitoring & Communication Solution, Passenger & Crew Connectivity Solution, Other Solution) Market Segment by Frequency Band (Ka-Band, Ku-Band, L-Band, Other Bands) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
The global connected aircraft market was valued at US$2087 million in 2021 and is projected to grow at a CAGR of 19.5% during the forecast period 2022-2032.
Gatwick Airport Utilises Augmented Reality To Assist Passengers In Navigating The Airport's Complicated Architecture
The AR/VR revolution is being used in a variety of industries, including retail, healthcare, and more. The airline sector is following suit as well. Right now, one of the most apparent uses of these technologies may be expected in the airport domain, where AR/VR-based apps can be used to enhance the airport experience. For example, Gatwick Airport utilises augmented reality to assist passengers in navigating the airport's complicated architecture, while London City Airport has installed augmented reality technology to assist air traffic controllers in their critical duty of keeping flights safe.
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How has COVID-19 had a significant negative impact on the Connected Aircraft Market?
The COVID-19 pandemic had a significant impact on the aviation and aerospace industries, which rely on commercial passenger travel. As demand for air travel fell and remained low through 2020, the consequences rippled through industries like as passenger airlines, airports, aviation manufacturers, and repair station owners in the United States. For example, in reaction to decreased demand, airlines parked or decommissioned a significant amount of their aircraft fleet, lowering demand for aviation maintenance services. The COVID-19 epidemic had a significant impact on the aviation sector in the United States. Passenger traffic in April 2020 was 96 percent lower than in April 2019, and it remained 60 percent lower in 2020 than in 2019. The effects spread to airports, service shops, and the supply chain. For example, in reaction to lower demand, airlines grounded or decommissioned numerous planes, lowering need for maintenance.
International flight limitations, local stay-at-home orders, and a general concern of contracting and spreading COVID-19 via air travel all had an immediate and severe impact on the United States aviation business. According to Department of Transportation (DOT) figures, passenger traffic in April 2020 was 96 percent lower than in April 2019, and stayed 60 percent lower throughout 2020.
How this Report Will Benefit you?
Visiongain’s 400+ page report provides 241 tables and 253 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global connected aircraft market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Connected Aircraft. Get the financial analysis of the overall market and different segments including solution, system, frequency band, application, and capture higher market share. We believe that high opportunity remains in this fast-growing connected aircraft market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
Rising Demand for Existing Connectivity System Modernization to Boost Growth
The need to replace traditional data optimization and data connection systems with more efficient systems has risen dramatically as the need for operational efficiency has grown. Aircraft with aircraft interface devices (AID) and wireless electronic flight bags are among them (EFB). At the same time, airlines are adopting satellite (SATCOM) and broadband connection technologies in response to increased passenger demand for high-speed internet connectivity. Qatar Airways, for example, invested in offering a better in-flight experience for its customers by adopting the Ku-band high-speed connectivity solution, which allows passengers to watch live television on the airline's 70 flights.
Investment in Agile and Smart Airport Concepts
In response to the rising aviation sector throughout the world, the financial model of airports and airline operations has altered dramatically during the previous two decades. As a result, both airport authorities and airlines are looking for new ways to manage and sustain the complicated ecology of airline and airport operations. This has opened up the possibility of constructing a flexible and shared infrastructure in which many stakeholders may smoothly exchange information.
This method also gives both the airport and airline operators access to a converged network architecture, which saves airline turnaround times and improves customer experience. In terms of business value, the dynamic and shared infrastructure enables enhanced operating efficiency for the aviation ecosystem partners, which also includes tenants in the airports' catchment region, which are mostly airlines.
Where are the market opportunities?
Artificial Intelligence is Gaining Tractions in the Airline Industry
As artificial intelligence (AI) gains traction, businesses are implementing technology to improve consumer experience at every touchpoint. There are several applications of AI, ranging from chat bots to voice-based AI systems.The airline industry recognises the value of AI in assisting them in improving their technological capabilities. Many forward-thinking airlines see the impact AI may have across different industries and are already investing in it.
Airline Sector Is Also Employing Robots
The airline sector is also employing robots to aid with duties such as customer service, luggage handling, and parking. Last year, KLM's socially conscious 'Spencer Robot' received a lot of attention. This robot has been given the capacity to cope with social issues involving humans, and his sensors can'see' and analyse persons around. Spencer can also tell the difference between people, families, and bigger groups, as well as learn and follow social standards, eventually operating in a human-friendly manner.
The major players operating in the connected aircraft market are SITA OnAir, Thales SA, Panasonic Corporation, Honeywell International Inc, GOGO Inc, Inmarsat plc, Safran SA, Viasat ,Inc., Eutelsat Communications SA, Iridium Communications Inc., BAE Systems plc, Intelsat SA, Lufthansa Technik, The Boeing Company, Airbus Group SE, AT&T Inc., These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
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