Global Artificial Intelligence in Aviation Market Segmented By Offerings (Hardware, Software, Services), By Equipment (Autocollimator, Measuring Microscope, Profile Projector, ODS, CMM, VMM), By Vertical (Industrial, Automotive) and By Geography with Industry Trends and Forecast to 2025. Global Artificial Intelligence in Aviation Market is expected to reach USD 2209.03 million by 2025, from USD 110.4 million in 2017, growing at a CAGR of 45.4% during the forecast period of 2018 to 2025.
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Artificial intelligence has various advantages in aviation industry, such as visual perception, speech recognition, decision-making and translation between languages for communication. It also includes advanced techniques of artificial intelligence which are used in reasoning, planning, learning, statistical analysis and computation.
The Artificial Intelligence in Aviation Market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025. The global artificial intelligence in aviation market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of artificial intelligence in aviation market for global, Europe, North America, Asia Pacific and South America. Some of the major players operating in the global artificial intelligence in aviation market are
- Airbus S.A.S.,
- General Electric,
Other Players are Thales, Lockheed Martin, Garmin., GE, IRIS Automation, Kittyhawk, Neurala, Northrop Grumman, Pilot AI Labs among others.
According to an article published by Indian defence review, artificial intelligence in aviation is well equipped or managed. Furthermore according to an article published by Airline Passenger Experience Association (APEX), in the next three years more than half of the airlines prefer artificial intelligence (AI) programs and it would increase the rate of conversation from 40% to 50%. Due to increased usage of artificial intelligence in aviation will affect the growth of market in future.
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Market Segmentation: Global Artificial Intelligence in Aviation Market
- The global artificial intelligence in aviation market is segmented based on offerings, technology, application and geographical segments.
- Based on offerings, the market is segmented into hardware, software, service
- On the basis of equipment, the market segmented into machine learning, context awareness, NLP, computer vision
- On the basis of application, the market segmented into virtual assistants, smart maintenance
- Based on geography, the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa.
- Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Major Market Drivers and Restraints:
- Use of big data in aerospace industry
- Significant increase in capital investments by aviation companies
- Rising adoption of cloud-based applications and services in aviation industry
- Increasing adoption of AI to improve customer services
- Limited number of experts in AI
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