Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Aviation Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global aviation analytics market size reached US$ 3.2 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 5.9 Billion by 2028, exhibiting a growth rate (CAGR) of 10.3% during 2023-2028. 
Aviation analytics is the computational technology that provides data statistics and information on operation activities, weather forecast data and real-time flight data. It examines the vast amount of data generated and analyzes the data pattern. It is widely used for inventory, flight risk, fuel, revenue management and customer analytics. Aviation analytics involves the use of various tools, such as data monitoring and descriptive statistics, to analyze, optimize and supervise information. It assists in enhancing performance, efficiency, accessibility, maintenance, customer satisfaction, and risk management, while improving operational planning and execution. As a result, aviation analytics is widely used to provide useful information to airports, airlines and aviation stakeholders and various business verticals, such as sales and marketing, finance, maintenance and repair.
Aviation Analytics Market Trends:
The significant growth in the aviation industry across the globe is one of the key factors creating a positive outlook for the market. Aviation analytics is widely used to manage real-time data, including navigation databases, connectivity flight operational activities, and aircraft maintenance. In line with this, the widespread product adoption due to the increasing passenger traffic to reduce operational cost and predict customer preferences is favoring the market growth. Moreover, various technological advancements, such as the integration of big data and artificial intelligence (AI) to perform mechanical analysis, increase efficiency and safety and predict unplanned failure, are providing an impetus to the market growth. Additionally, the increasing demand for real-time analytical solutions to enhance profitability, tracking, fraud detection and improved data management is positively impacting the market growth. Apart from this, extensive research and development (R&D) activities and the implementation of various government initiatives to improve aircraft safety are anticipated to drive the market toward growth.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global aviation analytics market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on component, deployment mode, business function, application and end user.
Breakup by Component:
- Software
- Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Business Function:
- Sales and Marketing
- Finance
- Maintenance
- Repair and Operations
- Supply Chain
Breakup by Application:
- Flight Risk Management
- Inventory Management
- Fuel Management
- Revenue Management
- Customer Analytics
- Navigation Services
Breakup by End User:
- Airlines
- Airports
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Companies Mentioned
- Capgemini SE
- General Electric Company
- GrayMatter Software Services Pvt Ltd
- Honeywell International Inc.
- IGT Solutions Pvt. Ltd.
- International Business Machines Corporation
- Lufthansa Technik AG (Deutsche Lufthansa AG)
- OAG Aviation Worldwide Limited
- Oracle Corporation
- Ramco Systems Limited
- RELX Group plc
- SAS Institute Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qeql4u
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