Global Connected Aircraft Market Overview
The key driver impacting the connected aircraft market is the increasing air passenger travels that have given rise to new aircraft orders demands. For instance, According to the International Civil Aviation Organization (ICAO) preliminary collection of yearly worldwide statistics, the total passengers carried on scheduled services increased to 4.5 billion in 2019, which is 3.6 percent elevated than the preceding year, while the number of departures reached 38.3 million in 2019, a 1.7 percent boost. System-wide, airlines carried around 4.4 billion passengers on listed services, an augment of 6.9%from 2017, shows an added 284 million trips by air. The world’s foremost manufacturers delivered about 1 234 new commercial aircraft in 2019 and confirmed 822 new aircraft net orders. Moreover, the increased need for real-time weather data gathering systems to make particular flight safety from changing weather conditions by the airline industry contributes to the connected aircraft market growth in the coming years.
According to Value Market Research, the globally connected aircraft market size was valued at around USD 2500 million in 2020 and is estimated to grow at a CAGR of about 19.3% during the forecast period 2021 to 2027.
The increasing operational efficiency need leads to high demand to upgrade existing data optimization, and data connections system with efficient connectivity systems is estimated to augment connected aircraft needs in the forecast period. Moreover, high-speed internet demand from passengers compels leading airlines to adopt broadband connectivity solutions. For instance, In 2021, SmartSky Networks declared that it has closed on $32 million in additional equity and debt funding. It is preparing for the launch of its next-generation aviation Wi-Fi connectivity service in the next year. Also, as per the National business aviation association, reliable internet on business aircraft is the most demanding feature that passengers rely on to maximize their productivity. It is estimated that 98% of aircraft likely to have some level of connectivity in the subsequent 15 years. The operators are increasingly searching for advanced and cost-effective connectivity solutions. However, the cybersecurity issues and existing backlog of aircraft deliveries may hamper the market in the long run. Also, the rise in drug recalls negatively impacts the market. The current industry trends, such as the growing focus on reducing maintenance time and enhanced passenger travel experience and technological advancements such as real-time and big data analytics, are expected to offer new lucrative market opportunities for the key players.
The connected aircraft market is vast, with many local and global players. The connected aircraft market is extensive, with many regional and international players. The important market leaders follow numerous strategies to improve their market position, such as acquisitions, extending product portfolio, contracts, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe. The key players studied in the report are Honeywell, Gogo, Panasonic Avionics, Inmarsat, Global Eagle Entertainment, BAE Systems PLC, Panasonic Avionics Corporation, Zodiac Aerospace, Thales Group, Burrana Inc., Viasat SpA, Cobham PLC., Rockwell Collins, Inc., and Kontron S&T AG.
In this research report, the connected aircraft market is segmented by type, application, connectivity and region.
Analysis by Type:
By type, the report is categorized into system and solution. The system segment dominates the type segment with over 50% share in 2020. The system includes data management systems, satellite communication systems, and many more. It is due to the increasing procurement of the new generation aircraft. Moreover, rising passenger traffic globally thus contributes to the system segment growth in the forecast period.
Analysis by Application:
By application, the report is categorized into commercial and military. Commercial application dominates the application segment with over 55% share in 2020. It is due to the rising production and deliveries o aircraft. Moreover, the massive adoption of connected technologies by commercial airliners contributes to the growth of the commercial airline segment in the forecast period.
Analysis by Connectivity:
By connectivity, the report is categorized into in-flight connectivity, air-to-air connectivity, and air-to-ground connectivity. In-flight connectivity dominates the connectivity segment with over 35% share in 2020. It is due to the rising demand for passenger connectivity and in-flight entertainment. Moreover, more advancement in-flight connectivity provides several such as entertainment services, broadband Wi-Fi services and contributes to the growth of the in-flight connectivity segment in the forecast period.
Analysis by Region:
In the regional outlook of the global connected aircraft market, the North America region dominates globally with a 30% market share in the forecast period. It is due to the increasing commercial usage of connected aircraft technologies and the growing number of aircraft orders in the region. Moreover, the high importance of connected aircraft technology in the United States' military sector, as there is a considerable focus on military aircraft modernization and upgrade of the existing technologies, contributes to market growth across North America.
Market Segmentation covered in the Report:
- Inflight Connectivity
- Air-to-Air Connectivity
- Air-to-Ground Connectivity
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.