London, Feb. 28, 2024 (GLOBE NEWSWIRE) -- The global connected aircraft market is set to undergo a remarkable surge, reaching a valuation of US$20.6 Bn by 2030, marking a substantial increase from the US$9.8 Bn attained in 2022. This growth is propelled by a projected impressive CAGR of 11.2% during the forecast period 2023 to 2030, indicates a recently published report by Fairfield Market Research.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$9.8 Bn | |
| Estimated Market Size in 2030 | US$20.6 Bn | |
| CAGR | 11.2% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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The global connected aircraft market is poised for an extraordinary journey, driven by technological advancements, increasing passenger expectations, and a relentless pursuit of efficiency and safety in air travel. “The skies are indeed the limit for this industry, promising a future where connectivity and innovation converge to redefine the aviation experience,” says the company’s analyst.
In-flight connectivity emerges as a primary driver, revolutionising air travel by providing seamless internet access to passengers. The demand for staying digitally connected during flights prompts airlines to invest in advanced satellite communication systems, enhancing the overall passenger experience.
Airlines adopt connected technologies to optimise flight operations, streamline maintenance processes, and improve overall efficiency. Predictive maintenance, enabled by IoT sensors and real-time data analytics, allows airlines to anticipate component failures, ensuring higher aircraft availability and operational reliability.
Connected aircraft solutions significantly enhance safety and situational awareness for both pilots and ground control. Real-time data streaming enables predictive analytics, helping pilots anticipate and mitigate potential risks. These technologies facilitate seamless communication between aircraft and ground control, improving overall flight safety standards.
The connected aircraft market is expected to see a surge in innovative in-flight entertainment systems, including advanced streaming services, VR experiences, and interactive content. Key players like Panasonic Avionics, and Thales Group lead the way, continuously enhancing passenger experiences.
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Key Research Insights
- Hardware dominates, whereas software set for a skyward surge.
- Within the in-flight connectivity domain, air-to-ground (ATG) connectivity takes the spotlight with an impressive rate of growth.
- Asia Pacific leads with 40% in the global connected aircraft market, whereas North America soars high.
Insights into Segmentation Analysis
1. Hardware’s Commanding Presence Prevails
- In the dynamic realm of connected aircraft, the hardware segment, encompassing vital components like sensors and communication devices, solidifies its dominance, contributing approximately 60% to the total market in 2022.
- Serving as the backbone of connected aviation systems, the demand for tangible technologies remains exceptionally high, ensuring the seamless flow of data between various aircraft systems.
2. Software Expects a Meteoric Rise Through 2030
- While hardware takes the lead, the software segment emerges as the fastest-growing category through the end of 2030.
- Advanced software solutions, particularly in data analytics, predictive maintenance, and cybersecurity, play a pivotal role in optimising flight operations, making informed decisions through big data analysis, and enhancing passenger services.
- A surge in this category underlines the aviation industry's increasing reliance on cutting-edge software applications.
3. Commercial Aviation Soars with 70% Market Share
- In the connected aircraft market landscape, the commercial aviation sector asserts its dominance, capturing a substantial 70% of the market share in 2022.
- High passenger traffic, surging demand for in-flight connectivity, and the need for airlines to stay technologically competitive solidify the commercial aviation sector's position as the primary adopter of connected technologies.
- The dominance of this segment signifies a strategic move by airlines to meet the evolving expectations of tech-savvy travelers.
4. UAVs Gear up for Exceptional Growth
- The unmanned aerial vehicle (UAV) segment represents the fastest-growing category, experiencing a remarkable annual growth rate of 15%.
- Driven by military applications, surveillance needs, and emerging uses in agriculture, environmental monitoring, and disaster management, the demand for connected systems in UAVs is on the rise.
- Real-time data transmission and analysis fuel the expansion of the UAV segment, promising diverse applications beyond traditional military use.
5. In-flight Connectivity Rules with 60% Market Share
- As the skies become smarter, in-flight connectivity emerges as the uncontested leader, commanding nearly 60% of the connected aircraft market.
- The surge in demand for seamless internet access during flights, mirroring ground-based connectivity, is driven by passengers' growing expectations for a connected experience in the air.
- This growth is fueled by the need for consistent, high-speed internet connectivity, especially over landmasses. ATG systems utilise ground-based stations to provide stable internet services to aircraft, ensuring connectivity remains robust even during flights over terrestrial areas.
Key Report Highlights
- The dominance of in-flight connectivity signifies a paradigm shift in passenger expectations, propelling the aviation industry towards a connected and technologically advanced future in the skies.
- Integration of IoT in aircraft leads to predictive maintenance, minimising downtime, and reducing operational costs. Leading companies like Boeing, and Airbus heavily invest in IoT technologies, ensuring optimal aircraft performance, safety, and cost-effectiveness.
Insights into Regional Analysis
1. Asia Pacific’s Dominance Intact with 40% Share
- In the rapidly evolving landscape of connected aircraft, Asia Pacific emerges as the powerhouse, responsible for a substantial 40% of the global market revenue. This dominance is underpinned by the region's dynamic economies, driving increased air travel and a robust demand for advanced in-flight connectivity services.
- With countries like China, and India witnessing a booming aviation sector, significant investments are pouring in to modernise aircraft fleets, integrating cutting-edge connectivity solutions.
- The rising middle-class population further fuels this momentum, with higher disposable incomes enabling more passengers to seek and afford premium in-flight connectivity services.
- The report says the growing middle-class population in many Asia Pacific countries majorly contributes to higher disposable incomes, enabling more passengers to afford and demand premium in-flight connectivity services.
“The Asia Pacific region hosts some of the world's fastest-growing economies, serving as a catalyst for increased air travel and a heightened demand for advanced in-flight connectivity services,” explains the analyst, adding further, “The countries like China, and India are witnessing a surge in their aviation sectors, prompting significant investments in modernising aircraft fleets with state-of-the-art connectivity solutions”.
2. North America Boasts a Share of 35%
- On the other side of the globe, North America positions itself for substantial growth, capturing an estimated 35% market share in the global connected aircraft market.
- The surge here is attributed to the region's status as home to some of the world's leading aviation companies and technology innovators, fostering an environment conducive to the development and adoption of advanced connected aircraft solutions.
- The region boasts a highly developed aviation infrastructure, hosting a multitude of commercial airlines and driving continuous demand for cutting-edge in-flight connectivity services.
- The region is home to major airlines and defence organisations, creating a strong market demand for connected aircraft solutions. Ongoing advancements in military aviation technologies further contribute to the robust growth in North America.
Key Companies in Global Connected Aircraft Market
- Thales Group
- Honeywell International Inc.
- Anuvu
- Cobham Plc
- BAE Systems PLC
- Panasonic Avionics Company
- GOGO LLC
- Collins Aerospace
- Kontron
- Inmarsat Global Limited
- ViaSat Inc.
- Delta Air Lines
- Raytheon Inc
- Eagle Entertainment Inc
- FlyExclusive
Global Connected Aircraft Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Type Coverage, By Platform Coverage, By Connectivity Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/connected-aircraft-market
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