Albany, New York, June 10, 2019 (GLOBE NEWSWIRE) -- Growing numbers of domestic and international airlines jostling to offer immersive solutions in their flights to engage passengers keeps the global in-flight entertainment market increasingly competitive, finds Transparency Market Research (TMR). Key players vie for prominent stakes in the market by offering scalable and customizable in-flight entertainment solutions across large numbers of fleets to enhance brand loyalty. Low cost airlines in recent years have joined on the bandwagon by launching in-flight entertainment systems and making them complimentary to value-added solutions. Numerous players are aiming for offering creative content on personal electronic devices (PEDs) to reap competitive gains in the global in-flight entertainment market.
Some of the leading players in the in-flight entertainment market are Thales Group, Rockwell Collins, Inc., Gogo LLC, Honeywell International, Inc., ViaSat, Inc., and Panasonic Avionics Corporation.
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The global in-flight entertainment market stood at US$3.5 bn in 2017 and is projected to clock an impressive CAGR of 12.7% during 2017–2022. By the end of the forecast period, the valuation of the market is anticipated to climb to US$6.4 bn.
Of the various components, in-flight entertainment hardware is expected to emerge as the leading one in the global in-flight entertainment market. The segment is projected to reach worth of US$3.4 bn by 2022. Constant advancements have expanded the capabilities of hardware and will bolster their uptake in commercial aircrafts.
On the regional front, North America holds the sway in the in-flight entertainment market, and is projected to contribute revenues of nearly US$2.2 bn by 2022-end. The status quo isn’t likely to change at least in the next few years. Strides made by aeronautics along with presence of robust wireless technologies in long-distance flights have helped it earn the top spot over past few years.
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Airlines’ Focus on Immersive Entertainment Experiences for Long-Distance Flyers bolster Prospects
Offering immersive experience to consumers through wide range of in-flight entertainment has become an integral part of value-added services by many commercial airlines worldwide. It is gaining significance as part of fortifying brand loyalty for airlines in the commercial aviation sector. Increasing access to spectrum of video and audio contents for passengers through their phones and tablets has bolstered the demand. On the other hand, airlines have been using in-flight entertainment for targeted advertisement and on-board sales, and eventually consider it as source of revenue streams.
The growth in the in-flight entertainment market has been substantially filliped by growing numbers of long-distance flights, especially in developed and developing countries. Reducing total cost of ownership for these airlines has helped them offer cost-effective solutions to flyers.
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Latest Avionics help Companies Customize In-flight Entertainment Services
Technological advances have helped the in-flight entertainment market to tread on attractive strides in recent years. They have teamed up with avionics manufacturers to enable them to install latest connectivity technologies, including apps to expand entertainment options for flyers. Incorporation of advanced monitors, handsets, and peripherals have helped drive the demand in the in-flight entertainment market. Low-cost domestic airlines have been expanding their multimedia library to give passengers more option. Growing demand for wireless streaming inflight entertainment systems among flyers is also boosting the prospects.
Large commercial airlines are fast expanding their portfolio of in-flight entertainment. To this end, they seek to offer high-performance peripherals and high-definition video to meet the needs of various classes of passengers.
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Domestic flights in developing economies particularly in Asia are focusing on travel enthusiasts and are bringing customizable content, which is help them tap into emerging avenues in the in-flight entertainment market.
The study presented here is based on a report by Transparency Market Research (TMR) titled “In-flight Entertainment Market (Component - In-flight Entertainment Hardware, Communication System, Connectivity System, and Support Services; Fit - Line Fit and Retrofit; Application - Moving Map System, Audio System, Video System, In-flight Games, and Network Connectivity) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2022.”
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