Westford USA, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The global Aviation Analytics market size is expected to reach USD 13.57 billion by 2030 and exhibit a CAGR of 16.13% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing volume of data generated in the aviation industry, the need for enhanced operational efficiency and cost reduction, the growing emphasis on passenger experience and safety, the demand for predictive maintenance to reduce aircraft downtime, and the application of analytics to optimize airline routes and scheduling is fueling the market's growth.
According to SkyQuest's latest global research of the Aviation Analytics market, the increasing adoption of machine learning and artificial intelligence (AI) for data analysis, the growth of cloud-based aviation analytics solutions, the development of predictive analytics for route and capacity planning, the use of analytics for demand forecasting and revenue management, and the integration of real-time data analytics to enhance decision-making in aviation operations, are the trends that aid in the market's growth.
Browse in-depth TOC on "Aviation Analytics Market"
- Pages - 157
- Tables - 66
- Figures -75
The Aviation Analytics Market is the global market for data analysis and advanced technologies that are used to extract valuable insights from various aspects of the aviation industry, including airline operations, passenger behavior, safety, and maintenance.
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Prominent Players in Aviation Analytics Market
- Acellent
- Airbus
- Boeing
- Collins Aerospace
- General Electric
- Honeywell International
- IBM
- IFS
- Ramco Systems
- SAP
- Swiss AviationSoftware
- Lufthansa Technik
- Oracle Corporation
- Accelya
- SAS Institute Inc.
- OAG Aviation Worldwide Limited
- Mu Sigma
- IGT Solutions Pvt. Ltd.
- Navitaire
- Sabre Corporation
- Cirium
- AirSage
- SITA
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 4.10 Billion |
| 2030 Value Projection | 13.57 Billion |
| CAGR | 16.13% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Software Component Demand to Grow Substantially in the Forecast Period
Software components dominate the global online market as Aviation analytics heavily relies on software solutions to analyze and process vast amounts of data generated by aircraft, airports, and related systems. Advanced software tools are essential for handling complex data sets efficiently.
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Maintenance, Repair, and Overhaul (MRO) Analytics are the Leading Application Segment
In terms of application, maintenance, repair, and overhaul (MRO) analytics are the leading segment as they represent a substantial portion of an airline's operational costs. Airlines and MRO service providers use analytics to optimize maintenance processes, reduce downtime, and lower maintenance expenses. By employing analytics to predict component failures and perform condition-based maintenance, airlines can extend the life of aircraft components and reduce unscheduled maintenance events.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region has a large number of airlines, airports, and MRO service providers, all of which had a keen interest in optimizing their operations through data-driven solutions. The United States, in particular, had a highly developed aviation sector and a history of technological innovation, contributing to the adoption of aviation analytics.
A recent report thoroughly analyzes the major players operating within the Aviation Analytics market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Aviation Analytics.
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Key Developments in Aviation Analytics Market
- In February 2023, Tata Group-owned Air India successfully sealed the world’s biggest ever commercial aviation deal by purchasing 470 passenger aircraft from France’s Airbus and American plane-maker Boeing. The record deal bolsters India’s position on the global platform as an emerging leader in the commercial aviation sector. It has also put Air India in the league of aspiring global carriers – a much needed move for the country where the aviation sector is growing rapidly.
Key Questions Answered in Aviation Analytics Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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