New York, Feb. 21, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “In Flight Entertainment Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Fit Type (Line Fit and Retro Fit), Aircraft Type (Narrow Body Aircraft, Wide Body Aircraft, and Business Jets), Product Type (In-Flight Entertainment Hardware, In-Flight Entertainment Connectivity & Communication, and In-Flight Entertainment Content), and Geography”, the global in flight entertainment market demand is influenced by rising number of air passengers globally and modernization of existing aircraft fleet.
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Global In Flight Entertainment Market - Report Scope:
| Market Size Value in | USD 6.01 Billion in 2022 |
| Market Size Value by | USD 9.46 Billion by 2028 |
| Growth rate | CAGR of 9.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 156 |
| No. of Tables | 71 |
| No. of Charts & Figures | 62 |
| Historical data available | Yes |
| Segments covered | Fit Type, Aircraft Type, and Product Type |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
In Flight Entertainment Market: Competitive Landscape and Key Developments
Astronics Corporation, Burrana Inc, Deutche Lufthansa AG, Anuvu, Honeywell International Inc, Panasonic Corporation, Thales Group, and Viasat Inc are among the key in flight entertainment market players.
In June 2021: Thales Group announced the launch of its upgraded in flight entertainment system called AVANT Up. The new model is updated with a new screen, in seat power, and increased service options.
In June 2022: Qatar Airways announced the integration of Panasonic Corporation’s new OLED IFE systems in its Boeing 777X fleet.
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Airlines in developed countries and developing nations are ordering an increasing number of narrow-body aircraft, wide-body aircraft, business jets, and regional jets to meet the constantly rising air travel demand. Continuously rising disposable income of the population in developing and developed regions across the globe is propelling the demand for air travel at a similar pace. Commercial air traffic is anticipated to maintain a constant growth rate over the years, despite challenges such as rising aviation fuel costs, technical faults causing accidents, and others. However, the barriers are succeeded by the increase in several passengers across the globe. The low-cost carriers (LCC) in the developed and developing economies are turning the revolution by offering low-fare business models, which are attracting the upper-middle class and middle-class society of developing nations. Owing to the significant growth of commercial air traffic, airlines are ordering technologically advanced aircraft. Airlines across the world are introducing short haul flights, long haul flights, and ultra-long haul flights to expand their global reach and customer base.
The increasing number of routes is positively impacting several passengers, which is facilitating the airlines to increase their annual revenue. The rising number of passengers across the world is demanding various parameters to make flight hours exciting and comfortable. In-flight entertainment is one of the key trends among full-service carriers and low-cost carriers. Increasing focus on offering flights with enhanced services coupled with the increasing number of aviation passengers across the globe is a major factor driving the growth of the in-flight entertainment market. Additionally, low-cost carriers are the preferable carriers among air passengers in developing regions, irrespective of cabin classes. As the low cost carriers are experiencing significantly high fleet demand, the carriers are increasingly introducing in flight catering and entertainment services to maintain their market position and increase the passenger count. These factors are boosting the demand for IFE systems, thereby contributing to the in flight entertainment market growth.
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In Flight Entertainment Market: Fit Type Overview
Based on fit type, the in flight entertainment market size is segmented into line fit and retrofit. The line fit segment accounted for a larger market share in 2021. The product and service providers are required to deliver top-quality products to the aircraft manufacturers to meet the requirements of airlines and aircraft OEMs. In the aviation industry, some of the additional functions installed during aircraft manufacturing are line-fitted or provisioned. The options installed on the new aircraft always vary, as different airlines order their aircraft keeping the specific audience in mind. In line fit onboard entertainment systems, airlines and OEMs look ahead to fit onboard entertainment systems in flights to deliver a pleasant experience to their customers. In 2018, Thales Group launched new in flight entertainment solutions called CORE and PRESTIGE. The in-flight entertainment market players operating globally are taking several initiatives for product innovation and integrating them into the aircraft during aircraft manufacturing. These factors are boosting the in flight entertainment market growth.
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Impact of COVID-19 Pandemic on Global In Flight Entertainment Market Growth:
During COVID-19 outbreak in 2020, the entire commercial aviation industry came to a halt. Global aircraft manufacturers had to stop their production across countries such as the US, France, Russia, and China to adhere to the government regulations regarding lockdown and physical distancing. The aircraft manufacturers witnessed 30–50% drop in demand for most of the aircraft models, especially, commercial aircraft models. Thus, low aircraft production volume affected the demand for aircraft components, including wheels, brakes, and IFE systems, resulting in a loss in revenue generation. Additionally, the outbreak drastically impacted the in flight entertainment market players owing to supply chain disruptions and labor shortages leading to low production volumes of IFE systems. These factors negatively impacted the in flight entertainment market size during the outbreak pandemic.
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