Dublin, Aug. 18, 2023 (GLOBE NEWSWIRE) -- The "Connected Aircraft Global Market Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Connected Aircraft Market is poised for substantial expansion, with an estimated growth trajectory from USD 10 billion in 2023 to reach USD 16.5 billion by 2028, demonstrating a robust Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period. These connected aircraft serve as a conduit for real-time data exchange between aircraft and ground systems, empowering airlines to optimize and monitor flight operations. This capability leads to improved fuel efficiency, reduced maintenance costs, and overall operational enhancements.
The report dissects the Connected Aircraft Market across various dimensions. It categorizes the market by Type, Platform, and Connectivity, spanning regions like North America, Europe, Asia Pacific, the Middle East, and the Rest of the World. The report's purview extends to comprehensive insights, encapsulating drivers, challenges, restraints, and opportunities that steer market growth.
Furthermore, the document undertakes an extensive examination of key players, encompassing business overviews, products, solutions, services, key strategies, recent developments, and new product & service launches associated with the Connected Aircraft market. Notably, the competitive landscape features industry stalwarts such as Honeywell International, Raytheon Technologies Corporation, Thales Group, Viasat Inc, and Gogo Inc, among others.
The Software segment is expected to grow the highest during the forecast period
Based on type, the software segment is projected to grow the highest in the Connected Aircraft Market during the forecast period. As aircraft become more connected, cybersecurity becomes a crucial concern. The software segment is witnessing growth as airlines and manufacturers invest in robust cybersecurity solutions to protect aircraft systems from potential cyber threats and attacks.
The Advanced Air Mobility segment is projected to have the highest CAGR in the market during the forecast period
Based on the platform, the Advanced Air Mobility (AAM) segment is expected to have the highest CAGR in the market during the forecast period. AAM platforms heavily rely on advanced technologies, such as autonomous flight systems, electric propulsion, and advanced communication networks. Ongoing developments and innovations in these areas are driving the growth of AAM platforms.
In-flight connectivity is projected to lead the Connected Aircraft Market during the forecast period
Based on connectivity, the in-flight connectivity segment is projected to lead the Connected Aircraft Market during the forecast period. Technological advancements have made in-flight connectivity more reliable, faster, and cost-effective. The development of advanced satellite and air-to-ground communication systems has significantly improved the quality of in-flight internet services.
North America is expected to account for the largest market share in 2023
The Connected Aircraft market has been studied for the regions North America, Europe, Asia Pacific, and Rest of the World. North America boasts a strong economy and a significant level of investment in research and development. This financial capacity allows airlines and aerospace companies to invest in advanced connected aircraft technologies.
The region fosters collaborations between technology companies, airlines, and aerospace manufacturers. These partnerships facilitate the development and deployment of innovative connected aircraft solutions.
The commercial aviation industry in North America is also robust and extensive, with major airlines, aircraft leasing companies, and a substantial fleet of operational aircraft. This sizable scale of operations presents a significant market for connected aircraft solutions.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 235 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $10 Billion |
| Forecasted Market Value (USD) by 2028 | $16.5 Billion |
| Compound Annual Growth Rate | 10.6% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Need for Optimum Airline Operations
- Increased Demand for In-Flight Connectivity
- Improved Airline and Passenger Safety
- Advancements in Communications Technologies
- Restraints
- Limited Availability of Bandwidth
- Cybersecurity Risks
- Opportunities
- Integration of Advanced Aircraft Solutions
- Emphasis on Predictive Maintenance
- Challenges
- Lack of Skilled Labor
- Challenges Associated with Software Updates and Maintenance
Value Chain Analysis
- Raw Materials
- R&D
- Component Manufacturing
- Assemblers and Integrators
- End-users
Ecosystem Mapping
- Prominent Companies
- Private and Small Enterprises
- End-users
Key Stakeholders and Buying Criteria
- Key Stakeholders in Buying Process
- Buying Criteria
Technology Analysis
- Robotics
- Data Analytics
Use Case Analysis
- Connected Aircraft Systems for Military Operations
- Communications Systems for Aircraft
Premium Insights
- Increasing Demand for Enhanced Passenger Experience
- Commercial Aviation to Secure Maximum Market Share in 2023
- Satellite Communications Systems to Record Highest CAGR Between 2023 and 2028
- Germany to be the Fastest-Growing Country During Forecast Period
Other Key Insights
- Impact of Recession on the Connected Aircraft Market
- Trends/Disruptions Impacting Customers' Businesses
- Porter's Five Forces Analysis
- Pricing Analysis
- Volume Data, by Platform
- Tariff and Regulatory Landscape
- Trade Analysis
- Key Conferences and Events, 2023-2024
Companies Profiled
- Key Players
- Gogo Inc.
- Honeywell International Inc.
- Raytheon Technologies Corporation
- Thales Group
- Viasat Inc.
- TE Connectivity Ltd.
- Cobham plc
- BAE Systems
- Panasonic Avionics Corporation
- Anuvu
- Kontron AG
- Astronics
- Iridium Communications Inc.
- Ramco Systems
- Garmin
- Other Players
- Brotecs
- Apijet LLC
- Exsyn Aviation Solutions
- Flight Data Systems
- Jeppesen
- Fleetplan.net
- Bytron Aviation Systems
- Ultramain
- Flightman
- Donica International Inc.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Connected Aircraft Market, by Type
8 Connected Aircraft Market, by Platform
9 Connected Aircraft Market, by Connectivity
10 Connected Aircraft Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/di6xd4
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