Covina, Sept. 02, 2024 (GLOBE NEWSWIRE) -- According to Prophecy Market Insights, the global aviation analytics market share is predicted to grow from USD 2.0 Billion in 2024 in 2024 to USD 6.2 Billion by 2034, representing a compound annual growth rate (CAGR) of 12.3% throughout the forecast period.
Aviation Analytics Market Report Overview
Aviation Analytics involves the application of advanced data analysis techniques to optimize various aspects of the aviation industry, including flight operations, passenger services, airport management, and safety.
By leveraging large volumes of data from sources such as aircraft sensors, flight records, passenger feedback, and operational systems, aviation analytics provides valuable insights that help improve efficiency, enhance safety, and increase profitability.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of market
- Drivers & Restrains factors of market
- Major key players in market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent development/news of market
- Opportunities & Challenges of Market
Competitive Landscape:
The Aviation Analytics Market is characterized by rapid growth, technological innovation and fierce competition. Companies are expanding their global presence, focusing on sustainability and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
| S/N | Companies |
| 1. | IBM Corporation |
| 2. | Oracle Corporation |
| 3. | SAP SE |
| 4. | General Electric |
| 5. | Aviation analytics Ltd |
| 6. | SAS Institute Inc. |
| 7. | Ramco International |
| 8. | Mu-Sigma |
| 9. | Mercator Limited |
| 10. | Booz Allen Hamilton Inc. |
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Analyst View:
Aviation Analytics Market is experiencing significant growth due to the increasing adoption of data-driven decision-making in the aviation sector. The integration of advanced analytics technologies such as artificial intelligence (AI) and machine learning (ML) is transforming the way airlines and airports manage their operations which improves customer experiences and ensure safety.
Market Dynamics:
Drivers:
Operational Efficiency and Cost Reduction
- A primary driver of the target market is the need to enhance operational efficiency and reduce costs. Airlines and airports are using analytics to optimize flight scheduling, manage fuel consumption, and predict maintenance needs.
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Market Trends:
Enhanced Safety and Risk Management
- Safety is a critical concern in the aviation industry and analytics play a crucial role in risk management and safety enhancement. Predictive analytics and real-time monitoring help in identifying potential issues before they escalate improving safety protocols, and ensuring regulatory compliance.
Segmentation:
Aviation Analytics Market is segmented based on Test, Application, End-User, and Region.
Test Insights
- Operations is anticipated to boost the growth for target market as this segment encompasses a range of analytics applications aimed at optimizing the day-to-day functions and efficiency of aviation operations that includes flight planning, scheduling, crew management and air traffic control.
Application Insights
- Flight risk management is anticipated to boost the growth for target market as flight risk management involves analyzing data related to flight safety, operational risks and potential hazards to ensure the safe and efficient operation of aircraft.
End-User Insights
- Airlines is anticipated to boost the growth for target market as the spraying process is highly efficient and scalable, making it ideal for both small-scale and large-scale production environments.
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Recent Development:
- In June 2024, The International Air Transport Association (IATA) announced the launch of IATA FuelIS, an advanced analytics solution to optimize airline fuel consumption, using aggregated and anonymized flight and fuel data. The IATA Global Aviation Data Management (GADM) system provides data to IATA FuelIS. The Flight Data eXchange (FDX) program is the source of this data. It now includes fuel data from 215 airlines globally, which is sufficient to guarantee the highest level of accuracy in the insights that may be obtained.
Regional Insights
- North America: This region is advanced in aviation infrastructure, high rate of technological adoption, and substantial investment in data analytics solutions have propelled North America's Aviation Analytics Market's development.
- Asia Pacific: The demand for advanced analytics technologies that can deliver actionable insights and enhance overall efficiency is driven by the necessity to manage growing passenger volumes and intricate flight itineraries.
Browse Detail Report on "Aviation Analytics Market Size, Share, By Business Function (Finance, Operations, Supply Chain, Maintenance & Repair, Sales & Marketing and Others), By Application (Fuel Management, Flight Risk Management, Revenue Management, Customer Analytics, Navigation Services, Inventory Management and Others), By End User (Airlines, Airports And Others), and By Region - Trends, Analysis, and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/Global-Aviation-Analytics-Market-By-583
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