Dublin, Aug. 18, 2023 (GLOBE NEWSWIRE) -- The "Connected Aircraft Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global connected aircraft market is projected to experience significant growth over the forecast period, with a compound annual growth rate (CAGR) of 16.9% from 2022 to 2023. The market is expected to reach $12.31 billion in 2027, growing at a CAGR of 16%.
The primary driver of this growth is the increase in air passenger travel. As air travel continues to gain popularity and demand for flights rises, airline companies are expanding their fleets to accommodate the needs of passengers. The growth in air passenger travel is expected to drive the adoption of connected aircraft solutions, which offer various benefits such as enhanced communication, data collection, and optimization of flight operations. According to data from the International Air Transport Association (IATA), air travel is projected to steadily recover from the impact of the COVID-19 pandemic, reaching 111% of 2019 levels by 2025.
Technological advancement is another key trend in the connected aircraft market. Major companies in the industry are focusing on developing new and innovative technological solutions to strengthen their market position. For example, Universal Avionics launched its connectivity ecosystem technology, allowing aircraft pilots to connect Apple iPads to the flight management system. This technology enables seamless two-way communication, data collection, and system optimization, enhancing flight analytics and aircraft operations.
Acquisitions and partnerships are also shaping the market landscape. In November 2021, Collins Aerospace, a US-based aerospace company, acquired FlightAware to turn customers' data into value and provide connected aviation solutions. Such collaborations are expected to boost the adoption of connected aircraft solutions.
North America currently holds the largest market share in the connected aircraft market, and it is projected to be the fastest-growing region during the forecast period. However, the market covers various regions, including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
Major players in the connected aircraft market include Honeywell International Inc., Gogo Inflight Internet Company, Thales Group, Inmarsat, Collins Aerospace, Viasat Inc., BAE Systems, The Boeing Company plc, Airbus SE, Bombardier Aviation, Kontron AG, Panasonic Avionics Corporation, Nelco Ltd., Eutelsat S.A., and Zodiac Aerospace.
Overall, the connected aircraft market is poised for significant growth driven by the increasing demand for air travel and continuous technological advancements in the aviation industry.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2027 |
| Estimated Market Value (USD) in 2023 | $6.81 Billion |
| Forecasted Market Value (USD) by 2027 | $12.31 Billion |
| Compound Annual Growth Rate | 16% |
| Regions Covered | Global |
Key Topics Covered
1. Executive Summary
2. Connected Aircraft Market Characteristics
3. Connected Aircraft Market Trends And Strategies
4. Connected Aircraft Market - Macro Economic Scenario
4.1. COVID-19 Impact On Connected Aircraft Market
4.2. Ukraine-Russia War Impact On Connected Aircraft Market
4.3. Impact Of High Inflation On Connected Aircraft Market
5. Connected Aircraft Market Size And Growth
5.1. Global Connected Aircraft Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Connected Aircraft Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Connected Aircraft Market Segmentation
6.1. Global Connected Aircraft Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Systems
- Solutions
6.2. Global Connected Aircraft Market, Segmentation By Connectivity, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Inflight Connectivity
- Air-to-Air Connectivity
- Air-to-Ground Connectivity
6.3. Global Connected Aircraft Market, Segmentation By Frequency Band, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Ka-band
- Ku-band
- L-band
6.4. Global Connected Aircraft Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Commercial
- Military
7. Connected Aircraft Market Regional And Country Analysis
7.1. Global Connected Aircraft Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Connected Aircraft Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
A selection of companies mentioned in this report includes:
- Honeywell International Inc.
- Gogo Inflight Internet Company
- Thales Group
- Inmarsat
- Collins Aerospace
- Viasat Inc.
- BAE Systems
- The Boeing Company plc
- Airbus SE
- Bombardier Aviation
- Kontron AG
- Panasonic Avionics Corporation
- Nelco Ltd.
- Eutelsat SA
- Zodiac Aerospace
For more information about this report visit https://www.researchandmarkets.com/r/7rzhmf
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
