Newark, June 19, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 5.8 billion connected aircraft market will reach USD 19.1 billion by 2033. The rising demand for better connectivity in the aircraft is expected to drive the market’s growth. Furthermore, the growing expectations of passengers' entertainment system, wifi connectivity, and real-time information during flights are some of the main drivers propelling the growth of the connected aircraft market. The need for reliable in-flight connectivity has been further spurred by passengers' growing use of smartphones, tablets, and other personal electronics. Additionally, connected aircraft provide airlines and operators with many advantages, such as increased operational effectiveness, heightened security and safety, optimised maintenance and diagnostics, and an improved passenger experience. With the help of technological developments, real-time data on aircraft, such as aircraft performance, fuel consumption, and maintenance requirements, can be measured. This data collection is widely used for cost optimization and proactive decision-making.
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Key Insights on Connected Aircraft Market
North America will account for the largest market size during the forecast period.
North America has the world's largest and most advanced aviation market in the world. In order to provide a better flying experience to customers, market players present in the region are attempting to concentrate more of their investments on connected aircraft solutions. Furthermore, the travellers in this region have high standards for digital amenities, including in-flight internet, which increases the demand for connected aircrafts.
The air-to-air connectivity segment dominated the market, with a revenue of USD 3.42 billion.
The air-to-air connectivity segment dominated the market, with the most significant revenue of USD 3.42 billion. Air-to-air connectivity is predicted to dominate the industry because of the increasing need for upgraded air traffic management systems, better situational awareness, and collaborative decision-making.
The passenger entertainment and connectivity segment dominated the market, with the most significant revenue of USD 3.19 billion.
The passenger entertainment and connectivity segment dominated the market, with the most significant revenue of USD 3.19 billion. Airlines are investing in connected aircraft technologies to stand out from the competition and satisfy customer demand. To improve the whole travel experience, Wi-Fi connections, streaming services, email, and social media access are crucial during flights.
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Market Dynamics:
Drivers: Increasing demand for high-speed connectivity services in flights
The market is expanding due to passengers' increasing demand for in-flight Wi-Fi services. The airline industry is attempting to improve the passenger experience by investing in connectivity technologies. This gives travellers additional options for onboard entertainment. In addition, travellers have access to streaming services and high-speed internet. By employing connected aircraft technologies, airlines cut expenses and increase operational effectiveness. These technologies contribute to increased resources and decreased operating expenses. For safety and security reasons, connected aviation systems assist with weather monitoring, real-time data transfer, and aircraft tracking. Additionally, these technologies boost airline usage and propel the market for linked planes forward.
Restraint: Increase in problems associated with cyber threats
There is an increasing risk of cyberattacks in the aviation industry. The increasing use of connected vehicles also poses a risk of terror attacks for the aviation industry as the data is easily accessible to all. The lack of common security systems in aircraft can increase the potential of cyberattacks. Thus, the increasing problems and risks associated with connected aircraft are expected to hinder the market’s growth.
Some of the major players operating in the connected aircraft market are:
● Gogo Inc.
● Panasonic Holdings Corporation
● Anuvu Operations LLC
● Inmarsat Global Limited.
● KONTRON AG
● Burrana
● SITA
● Honeywell International Inc.
● THALES
● Collins Aerospace (RTX Corporation)
● Cobham Limited
● Viasat, Inc.
Key Segments cover in the market:
By Type:
● Aircraft-to-Ground Connectivity
● Air-to-Air Connectivity
By Application:
● Operational Efficiency
● Passenger Entertainment and Connectivity
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About the report:
The global connected aircraft market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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