Inflight Advertising Market – Overview:
In-flight advertising basically refers to advertising that is targeted toward potential consumers, on board an aircraft. In-flight advertising entails advertising through in-flight magazines, overhead storage bins, and setback tray tables, and sales pitches by flight attendants. With the advent of digital media in-flight advertising market has witnessed significant changes. Introduction of targeted advertising through live television and in-flight apps are expected to have a positive impact on the in-flight advertisement market. Increasing number of aircraft fleets and increasing passenger traffic, are some of the major driving factors for the in-flight advertising market.
As the in-flight advertising market is shifting towards aggressive targeted advertising through Wi-Fi connectivity, e-commerce platform and live TV services, the existing airline hardware is set to become obsolete to a certain extent. In the current scenario the airline are accepting these sudden changes in trend of advertising in order to monetize and develop ancillary revenue streams which is expected to boost airline revenues significantly. As a result, the market for inflight advertising is expected to grow at a CAGR of 11.17%.
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Inflight Advertising Market – Competitive Analysis
The leading market players in the global Inflight Advertising market primarily include Panasonic Avionics Corporation, Global Eagle, IMM International, EAM Advertising LLC, MaXposure Media Group (I) Pvt. Ltd., INK, Global Onboard Partners, Atin OOH, Zagoren Collective, and Blue Mushroom.
The aircraft in-flight advertising market has been fetching high demand in the recent years. EAM Advertising (U.S.), in particular, one of the leading in-flight advertising product providers, has developed an exhaustive list of in-flight advertising products on offer, which includes in-flight video, roadblock in-flight video, in-flight long form video, in-flight magazines, exterior aircraft wrap, overhead signage on bins, seatback inserts, table tray advertising, Wi-Fi advertising and sampling. The firm is one of the largest in-flight advertising service providers in the U.S., which results in boosting the company’s revenue year-on-year. The pure existence of a vast in-flight advertising service portfolio, eliminates major intensity of competition for the firm, which results in attracting the leading airlines. Similarly, INK (U.K.), another major in-flight advertising firm boasts of a product portfolio that includes seatback tray tables, headrest covers, overhead lockers, in-flight entertainment screens, plane wraps, banner stands, brochure pick-ups, Wi-Fi sponsorship, digital displays, itinerary emails, print-at-home boarding cards, in-flight magazines and digital editions.
The vendors with better technical and financial resources can develop innovative products that render the competitors’ products, obsolete and non-competitive even before they are launched, or costs are recovered. Therefore, vendors have to develop new technologies and stay abreast of emerging technologies that could affect the continuing competitiveness of their product lines in the market. The competitive environment in the market is likely to intensify further due to increase in product/service extensions, technological innovations, and M&A.
Inflight Advertising Market – Regional Analysis
Europe is the one of the major regions for the global in-flight advertising market. In 2016, there were over 4,500 aircraft in the region, which is expected to reach more than 8,000 fleets by 2035. Recently, the European in-flight advertising market is growing at a steady pace. With the increase in the number of aircraft, it is expected that there would be larger participation of the regional companies in providing in-flight advertising services for the airlines. Additionally, in-flight advertising firms investing heavily in research and development so as to create advertising content for mass consumption in this region, is expected to positively impact the market. Therefore, Europe had an overall 28.01% share of the inflight advertising market.
Germany being one of the four largest EU members is expected to be a flourishing market for the in-flight advertising market. Steadily rising passenger traffic over time combine with the existence of major players such as Lufthansa in the aviation industry will; aid the growth of the market. The market in Germany is expected to witness a significant surge in demand due to the major investments by some of the country’s’ key in-flight advertising firms in development of interactive digital content. Such content can be delivered directly to passengers personal gadgets.
Similarly, U.K. being among the top 5 countries in terms of air traffic is well placed for the development of the in-flight advertising market. Availability of sophisticated technologies are expected to attract investments in the in-flight advertising market. Being the home of the English Premier League, the country’s airlines and advertising firms are partnering with major football clubs in order to aggressively push in-flight advertisements towards passengers in order to capitalize on football clubs loyal customer bases.
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