Pune, India, Jan. 29, 2021 (GLOBE NEWSWIRE) -- The global connected aircraft market is set to gain traction from the increasing adoption of numerous advanced technologies, such as big data and real-time analytics. These are very reliable for linking the airplane hardware with the internal system. This information is given by Fortune Business Insights™ in a new report, titled, “Connected Aircraft Market Size, Share & COVID-19 Impact Analysis, By Type (System and Solutions), By Connectivity (In-Flight Connectivity, Air-to-Air Connectivity, Air-to-Ground Connectivity), By Application (Commercial and Military), By Frequency (Ka-Band, Ku-Band, L-Band), and Regional Forecast, 2020-2027.” The report further states that this market size was USD 4.18 billion in 2019 and is projected to reach USD 10.49 billion by 2027, exhibiting a CAGR of 22.9% during the forecast period.
COVID-19 Pandemic to Obstruct Growth by Restricting Travel & Delaying New Orders
The COVID-19 pandemic is causing the cancellation of flights, as well as restrictions on travel. These factors have further resulted in the postponements or delay of new aircraft orders. Apart from that, four-tier and three-tier supplies have halted their production because of the lack of a workforce. These factors would hamper the demand for connected aircraft in 2020. However, we are delivering in-depth research reports to help you better understand the present situation.
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A list of all the renowned connected aircraft manufacturers operating in the global market:
- Honeywell International (The U.S.)
- Gogo LLC (The U.S.)
- Thales Group (France)
- Inmarsat Global Ltd. (The U.K.)
- Collins Aerospace (The U.S.)
- Viasat (The U.S.)
- Global Eagle Entertainment Inc. (The U.S.)
How Did We Conduct Our Research?
The report involved four notable activities in projecting the current market size. Exhaustive secondary research was conducted to gather data about the parent and peer markets. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous industry experts. We have also used bottom-up and top-down approaches to calculate the market size.
Competitive Landscape-
Key Players Focus on Signing New Agreements with Other Firms to Intensify Competition
This market is fragmented with the presence of several prominent companies operating globally. Most of them are focusing on receiving new contracts from other organizations to deliver their in-house connected aircraft.
Below are the two latest industry developments:
- July 2020: Aerkomm and Airbus Interiors Services (AIS) signed an agreement to install Aerkomm K++ Connectivity Solution on the Airbus A320 Family aircraft. AIS will certify, develop, and install the system on a prototype aircraft.
- December 2019: Panasonic Avionics Corporation signed an agreement with Eutelsat Communications to provide Ku-band capacity on the EUTELSAT 10B satellite on two multi-beam payloads. It will be launched in 2022.
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Drivers & Restraints-
Increasing Adoption of Next-generation Aircraft to Drive Growth
The increasing passenger travels worldwide is set to surge new aircraft orders rapidly. At the same time, increasing disposable incomes of people and rising urbanization is resulting in the high demand for air travel. Also, the increasing usage of next-generation aircraft equipped with enhanced in-flight entertainment and connectivity (IFEC) services would propel the connected aircraft market growth in the coming years. However, the emergence of artificial intelligence (AI), connected technologies, and the Internet of Things (IoT) has surged the risks of cyberattacks. It may hamper the demand for the connected type of aircraft.
Segment-
Ku-band Segment to Grow Rapidly Fueled by High Demand for SATCOM
Based on frequency, the Ku-band segment generated 55% in terms of the connected aircraft market share in 2019. It is expected to be the fastest-growing segment in the near future because of the high demand for satellite communication (SATCOM). This type of frequency is mainly used because of its ability to offer high-speed data transmission.
Regional Insights-
North America to Remain at the Forefront Stoked by Presence of Reputed Companies
Geographically, North America held USD 2.00 billion in terms of revenue in 2019. It is expected to retain its dominance throughout the forthcoming years on account of the presence of numerous prominent aviation companies, such as Honeywell International, Lockheed Martin Corporation, and the Boeing Company in the U.S.
Asia Pacific, on the other hand, is set to grow rapidly backed by the high demand for air travel, as well as the increasing aircraft deliveries in the region. Besides, the rising need for in-flight internet connectivity and the trend of bringing your device (BYOD) would also aid growth. In Europe, the higher usage of SATCOM intermediate frequencies by key companies is likely to accelerate growth.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/connected-aircraft-market-101954
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights- Impact of COVID-19 Pandemic on Global Connected Aircraft Market
- Impact of the COVID-19 pandemic on the global Connected Aircraft market
- Steps taken by Industry/ Companies/ Governments to overcome the impact
- Key Developments in the Industry in Response to COVID-19 pandemic
- Potential opportunities due to COVID-19 Outbreak
- Global Connected Aircraft Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- System
- Solutions
- By Connectivity
- In-Flight Connectivity
- Air-to-Air Connectivity
- Air-to-Ground Connectivity
- By Application
- Commercial
- Narrow Body
- Wide Body
- Business Jet
- General Aviation Aircraft
- Military
- Fighter Aircraft
- Military Transport Aircraft
- Military Helicopter
- Commercial
- By Frequency
- Ka-Band
- Ku-Band
- L-Band
- By Region
- North America
- Europe
- Asia pacific
- Rest of the World
- By Type
TOC Continued…!
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