The Internet of things (IoT) is a computing concept that enables users to use and control physical objects by connecting them to the internet. Today IoT is an important and integral part of the aviation industry because the aviation industry always strives to provide a superior traveling experience at the lowest fares. The aviation IoT market has been anticipated to earn revenues worth USD 25,134.6 million while expanding at a CAGR of 16.34% by 2023. Increase in passenger traffic, subsequent demand for new aircraft, and rising investment in the agile and smart airport concept drive the market growth.
Analyzing the market structure, this report offers insights about factors affecting the market growth. Estimating the market size and forecasting the revenue, this report covers and observes the competitive developments of market players that include joint ventures, mergers and acquisitions, new product developments, research and developments (R&D), and strategic alliances.
Get a FREE Report Sample with Complete TOC @ https://www.marketresearchfuture.com/sample_request/6873
Huge investments in terms of R&D have led to technological innovations in the aviation as well as IoT sector. Moreover, the energy & process optimization and the rapid adoption of IFEC systems easing have led to demand from more aviation industry players to incorporate IoT in their operations and services which is leading to the growth of aviation IoT market. However, the vulnerability of IoT systems regarding cybersecurity can have a negative impact on market growth.
Competitive Analysis
The outlook for growth in the Aviation IoT Market is competitive due to the efficient application of strategies such as geographic expansion, new product launch, acquisitions, agreement, and R&D to strengthen their business portfolio. The market players are observed as being focused on increasing their operations globally and engage in strategic acquisitions to grow in organic cold pressed juices business. The key players profiled in the aviation IoT market are Amadeus IT Group SA, Cisco Systems Inc., Huawei Technologies Co. Ltd., SAP SESITA, and others.
Segmental Analysis
The aviation IoT market is segmented on the basis of, application component, end user, and region. Airline application has been sub-segmented into fleet management, passenger experience enhancement, and others. Application-based segmentation segments this market into airline application, airport application, and air traffic management application processes. Sub-segmentation of airport application covers operations, passenger processing, and security. The sub-segmentation of air traffic management application comprises of flight turnaround optimization, runway management, and other processes.
Based on the component, the market has been segmented into communication services, data center systems, devices, IT services, and softwares. Given the basis of end users, the market has been segmented into the airline, airport, and air traffic management.
The regions covered in the global market are Europe, Asia Pacific, North America, Latin America, and Middle East & Africa (MEA).
Detailed Regional Analysis
The regional analysis of the aviation IoT market covers regions such as Europe, Asia Pacific, North America, Latin America, and Middle East & Africa (MEA). North America is the largest regional market. In 2017, it held the largest market share of 30.89% whose market value was USD 3,150.5 million. During the forecast period, this market has been anticipated to grow at a 15.61% CAGR. USA and Canada are the strongest economies in this region, and they can be lucrative markets. In 2016, American Airlines spent nearly USD 25 million on easing congestion at various airports in the US. This kind of developments can enhance fuel market growth. During the forecast period, the aviation IoT market in North America is estimated to witness a CAGR of 15.61% during the forecast period.
In Europe, the market is growing due to strong economies such as France, Germany, Italy, the Netherlands, and the UK. Due to technological advancement, Europe is one of the major regions for aviation IoT. In 2016, there were over 4,500 aircraft operating in Europe. By 2035, the number is expected to reach 8,000. In this region, the market is growing due to the greater collaboration between airlines and airport authorities such as the installation of smart solutions and an increase in the number of aircraft. Thus, market growth for Europe is expected to register a 14.73% CAGR during the forecast period.
Asia Pacific is likely to emerge as the fastest growing market during the forecast period at 18.40% CAGR due to the increasing demand for in-flight connectivity & connected electronic devices, rapid urbanization, rising technological advancement, the need to enhance the passenger experience, and rising investments in IoT solutions by airline operators & airports authorities. The major country-specific markets in this region are China, India, Japan, and South Korea, followed by the remaining countries of the Asia Pacific region.
In the MEA region, the market is primarily driven by the increasing passenger traffic in this region. Airlines are investing in ways to reduce fuel consumption, superior in-flight connectivity networks and enhancing passenger experience during baggage & security screening. During the forecast period, the market in the MEA region is expected to grow at 16.50% CAGR. Significant country-specific markets in this region are Saudi Arabia and UAE, followed by the remaining countries of the MEA region.
In Latin America, the market is growing at 17.26% CAGR during the forecast period due to increasing investments and the rising demand for real-time data by airlines. In this region, airports focus on lower operational costs by incorporating IoT solutions and satellite connectivity. The biggest market in this region is Brazil, followed by the remaining countries of Latin America.
Research Methodology
Market Research Future’s research methods consist of both primary and secondary data evaluation that are carefully chosen to present the accurate findings in the study of a market. Primary methods include one-on-one interviews with industry professionals and key-level executives to gain a better understanding of the market. After this, secondary methods such as SECs, whitepapers, authenticated databases, reputed journals and others which acquired from publicly available sources are implemented. This is substantiated with detailed observations with regards to historical analysis, and current market positions offer a bird’s eye view of the market. Assessments and verification of the market are done via top-down and bottom-up approaches. All admissible facts are taken into account to offer clients, the ability to make well-informed decisions with confidence.
Browse Complete Report “Aviation IoT Market Research Report – Global Forecast 2023” @ https://www.marketresearchfuture.com/reports/aviation-iot-market-6873
Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 Market Structure
2.3.1 Airline Iot
2.3.2 Airport Iot
2.3.3 Air Traffic Management Iot
3 Research Methodology
3.1 Research Process
3.2 Data Collection
3.3 Primary Analysis & Hypothesis Formulation
3.4 Information Validation & Hypothesis Testing
3.5 Information Aggregation and Final Analysis
3.6 Market Data Representation & Key Insights
3.7 Assumptions
3.8 Market Size Estimation
Continued…….
List of Tables
Table 1 Market Synopsis
Table 2 Smart Airport Initiatives
Table 3 Cybersecurity Attacks, 2017–2018
Table 4 Volume of Data Generated by Iot Systems
Table 5 Energy Efficiency Initiatives, 2017-2018
Table 6 Global Aviation Iot Market, by Component, 2016-2023 (Usd Million)
Table 7 It Services: Aviation Iot Market, by Region, 2016-2023 (Usd Million)
Continued…….
List of Figures
Figure 1 Airline Iot: Market Structure
Figure 2 Airport Iot: Market Structure
Figure 3 Air Traffic Management Iot: Market Structure
Figure 4 Dro Analysis of Global Aviation Iot Market
Figure 5 Air Transport, Passengers Carried (2007–2017)
Figure 6 Gross Orders in 2017
Figure 7 Adoption of in-flight Wi-fi, 2015–2018
Continued…….
Ask for your specific company profile and country level customization on reports.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/aviation-iot-market-6873