Aviation Iot Market Size, Share, Analysis, Growth, Trends with Top Key Players Amadeus IT Group SA (Spain), Cisco Systems Inc. (USA) By Global Forecast To 2023

Internet of things (IoT) allows users to control and operate physical objects by connecting them to the internet. To simplify various operations, the use of IoT is growing in the aviation sector.Market Research Future (MRFR) has published a research report on the global aviation IoT market that vaticinates boost for this market at 16.34% CAGR (Compound Annual Growth Rate) during a forecast period that would end in 2023. By value, the market has been figured to be worth the US $ 25,134.6 mn by the end of the forecast period.

The most important factor that is driving the global aviation IoT market growth is the huge and diverse series of investments in terms of research and development (R&D) that has led to technological innovations in both aviation sector as well as IoT sector. The second factor supporting the market growth is the demand from more aviation industry players to incorporate IoT in their operations and services that is growing due to energy & process optimization and the rapid adoption of In-flight Entertainment & Connectivity (IFEC) systems. Other factors leading to market growth include an increase in passenger traffic, growing demand for new aircraft, and rising investment in the agile & smart airport concept. However, the concerns about IoT systems regarding cybersecurity can impede market growth.

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Key Players

The key players in the global aviation IoT market include, Huawei Technologies Co. Ltd. (China), and SAP SESITA (Germany).

The global aviation IoT market has been segmented into component, application, end-user, and lastly, region. Regarding component, this market has been segmented into communication services, devices, data center systems, information technology (IT) services, and software.

The application-based segmentation can segment the market into airport application, airline application, and air traffic management application processes. The airport application has been sub-segmented into passenger processing, operations, and security. The air traffic management application has been sub-segmented into runway management, flight turnaround optimization, and other processes. Based on the end-user, the market has been segmented into the airport, airline, and air traffic management.

The regional segmentation of the global aviation IoT market segments the market into regional markets namely Europe, North America, Asia Pacific, Latin America and the Middle East & Africa (MEA). North America is the largest regional market due to technological advancements, growing IoT, and lastly, the presence of various key market players in this region. USA and Canada are the most powerful economies as well as technologically advanced countries in this region. Hence, they can be huge markets.

In Europe, the market is growing due to technological advancement, strong aviation industry, and the increasing number of aircraft. The last important factor for market growth in this region is greater collaboration between airport authorities and airline services such as the installation of smart solutions. The strong country, specific markets in this region are France, Italy, Germany, the UK, and the Netherlands, followed by the remaining countries of Europe.

During the forecast period, the Asia Pacific region is expected to emerge as the fastest growing market. It is has been estimated to grow at 18.40% CAGR. The factors leading to the market growth in this region include rapid urbanization, the need to enhance the passenger experience, increasing demand for in-flight connectivity & connected electronic devices, rising technological advancement, and lastly, both airline operators as well as airports authorities increasing investments in IoT solutions. The biggest money-making country-specific markets in this region are India, Japan, South Korea, and China, followed by the remaining countries of the Asia Pacific region.

In the MEA region, the major reason for market growth is the increasing passenger traffic. Ther investments from airlines, aim at lower fuel consumption by aircrafts, offer superior in-flight connectivity networks during flights, and enhancing passenger experience during baggage & security screening. Crucial country-specific markets in this region are UAE and Saudi Arabia, followed by the remaining countries of the MEA region.

In Latin America, the market is growing due to growing investments as well as the demand for real-time data by airlines. Via IoT-incorporation and satellite connectivity, the airports aim to lower operational costs. The most important country-specific market in this region is Brazil, followed by the remaining countries of Latin America.

Latest Industry News

South Africa-based AAT Composites Ltd., who is the manufacturer of high-performance composite parts for the commercial aviation industry, have selected US-based Plataine's Industrial IoT (IIoT)-based solutions for manufacturing optimization. This is a part of the company's digital manufacturing strategy and plans to automate as well as upgrade its production facilities capabilities. 12 MAR 2019
Recaro Aircraft Seating has developed a system via IoT for its new business class seat. The new seat can alert the crew if a maintenance problem needs to be addressed. 13 DEC 2018
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Aviation IoT Market Report Information: By Application (Airline, Airport, Air traffic management), By Component (Communication services, Data center systems, Devices, IT Services, Software's), By End Users (Airline, Airport, Air traffic management), By Region (North America, Europe, APAC, MEA, Latin America) - Global Forecast to 2023 @ https://www.marketresearchfuture.com/reports/aviation-iot-market-6873

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