Newark, May 09, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 3 billion in 2022 global aviation analytics market will reach USD 11.12 billion by 2032. Systems that can process enormous amounts of data in real time have been made possible by technological breakthroughs, making them extremely effective at creating a customer-centred sales experience. By implementing effective sales methods, brands may grow their market and keep their current consumer base. Artificial intelligence, big data analytics and robotics are being utilized in the aviation industry to optimize airline operations and consume-centric product offerings to improve efficiency and productivity in the industry.
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 3 Billion |
| Market Size in 2032 | USD 11.12 Billion |
| CAGR | 14% |
| No. of Pages in Report | 236 |
| Segments Covered | Component, Application, Function and End User |
| Drivers | The increasing demand for flights or air travel |
| Restraints | The lack of qualified and skilled personnel |
Key Insight of the global aviation analytics market
North America is expected to rise the fastest during the forecast period.
The North American market is expected to rise the fastest during the forecast period. Given the high per capita income of the population in the region, the North American market has a well-established aviation industry with significant air traffic. The growth of the regional market is also fueled by major industry companies providing aviation analytics to important airlines. The industry participants' rapid adoption of AI, ML, and big data and their access to cutting-edge technologies will fuel regional growth.
In 2022, the solutions segment dominated the market with the largest market share of 63% and market revenue of 1.89 billion.
The component segment is divided into solutions and services. In 2022, the solutions segment dominated the market with the largest market share of 63% and market revenue of 1.89 billion.
In 2022, the customer analytics segment dominated the market with the largest market share of 33% and market revenue of 0.99 billion.
The application segment is divided into fuel management, inventory management, revenue management, customer analytics, navigation services, flight risk management, route management, fleet management, performance monitoring, supply chain management, predictive analysis and others. In 2022, the customer analytics segment dominated the market with the largest market share of 33% and market revenue of 0.99 billion.
In 2022, the sales and marketing segment dominated the market with the largest market share of 35% and market revenue of 1.05 billion.
The function segment is divided into sales and marketing, maintenance, supply chain, repair and operations, finance and others. In 2022, the sales and marketing segment dominated the market with the largest market share of 35% and market revenue of 1.05 billion.
In 2022, the airlines segment dominated the market with the largest market share of 48% and market revenue of 1.44 billion.
The end-user segment is divided into original equipment manufacturers, airlines, airports and others. In 2022, the airlines segment dominated the market with the largest market share of 48% and market revenue of 1.44 billion.
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Advancement in market
April 2023 – ForeFlight, a maker of electronic flight bags and a flight planning tool owned by Boeing has acquired CloudAhoy, a company that offers flight data analytics. Post-flight debriefing services were first provided by CloudAhoy in 2011. The company has since expanded into more in-depth analytics based on flight data and, more recently, introduced flight operations quality assurance (FOQA) analysis. In its early years, Chuck and Tani Shavit's CloudAhoy pioneered a novel technique for pilots to assess flights using GPS data that had been captured. More flight data became available as aircraft were outfitted with sophisticated avionics, and analytics tools like CloudAhoy's provided increasingly accurate post-flight assessments at an affordable price. With the help of CloudAhoy's FOQA service, a lot more pilots and operators may now access flight data monitoring features like FOQA at a much lower price than before.
Market Dynamics
Driver: The rising demand for air travel
The population in emerging nations has more disposable income, which has raised the demand for flights. Population growth has increased demand, making it more difficult for trains and roads to keep up with it. The aviation sector is bridging the supply-demand imbalance. Customers now have more options and better costs because of the growing number of airlines in the market. Additionally, the government's growing investment in infrastructure to create airports is luring foreign airlines to expand their business. Rising fiscal support to revitalize the tourism sector, which would, in turn, fuel the aviation market, facilitates the growing infrastructure spending. As a result, the aviation sector is turning to aviation analytics to streamline processes, protect the safety of passengers and crew and aircraft, and improve service offerings. As a result, the global aviation analytics market will be driven by the rising demand for flights or air travel.
Restraint: lack of aviation analysts
Big data, IoT, and artificial intelligence have all been used in aviation analytics. However, the gap between the supply and demand of qualified aviation analytics has widened, given the technology's quick speed of change. A lack of qualified workers will hinder the expansion of the aviation sector. Additionally, the labour force is less likely to choose to work in the aviation industry due to the closure of the sector, given the COVID-19 pandemic. The lack of aviation analysts has strained the currently employed service professionals, resulting in subpar performance. Therefore, the market's expansion will be hampered by a lack of qualified and trained workers.
Opportunity: The growing adoption of new technologies like artificial intelligence
Big data makes it possible to process massive amounts of data in real-time. Real-time processing, greater filtration, and personalization are now possible due to the advancements in AI and big data. For instance, paperless check-in and boarding are now possible with artificial intelligence, which improves airport and flight operations. The aviation industry also increasingly benefits from using robotics, IoT, and machine intelligence. Predictive maintenance, pattern identification, auto-scheduling, targeted advertising, and customer feedback analysis are a few of the major advantages. As a result, the worldwide aviation analytics market will benefit greatly from the expanding use of AI and big data.
Challenge: Concerns regarding data privacy.
Aviation analytics analysis of customer data involves confidential and sensitive information. Aviation analytics is at a higher risk of cyberattacks without robust data privacy tools, software, services and regulations to prevent data misuse. The banking details during flight booking are also susceptible to the growing advancement in cyberattacks. Therefore, there are several restrictions on what kind of data airlines can access, which will challenge the global aviation analytics market's growth.
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Some of the major players operating in the global aviation analytics market are:
• Accelya
• General Electric Company
• Honeywell International
• International Business Machine Corporation (IBM)
• Lufthansa Technik
• OAG Aviation Worldwide Limited
• Oracle Corporation
• Ramco Systems
• SAP SE
• SAS Institute Inc.
Key Segments cover in the market:
By Product Type
• Solutions
• Services
By Application
• Fuel Management
• Inventory Management
• Revenue Management
• Customer Analytics
• Navigation Services
• Flight Risk Management
• Route Management
• Fleet Management
• Performance Monitoring
• Supply Chain Management
• Predictive Analysis
• Others
By Function
• Sales and Marketing
• Maintenance
• Supply Chain
• Repair and Operations
• Finance
• Others
By End User
• Original Equipment Manufacturers
• Airlines
• Airports
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product 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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