Artificial Intelligence (AI) in Aviation Market Will Generate Record Revenue by 2028

AI in aviation market is anticipated to grow at a CAGR of 42.1% during the forecast period. The growing start-up initiatives across the globe is the major factor driving the growth of the market. To reduce the global challenges caused by fossil fuels and pollution, start-up companies are developing aircraft powered by AI. For instance, in June 2022, BON V Technology, a start-up in Odisha developed the AI-powered electric aircraft RM001, which is a smart, sustainable, and safe mode of transportation. RM001 can carry up to 200kg of cargo to more than 40km. The aircraft is equipped with AI technology to navigate itself during flight, avoid obstacles, and communicate with ground stations and across the globe through 4G and 5G connectivity. Moreover, it does not require to be operated once the destination location is entered which in turn drives the overall AI in the aviation market. 

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Additionally, in May 2021, Merlin Labs, Inc., an aviation technology start-up company partnered with Dynamic Aviation Group Inc., a provider of modified aircraft. Both companies' partnership to put a fleet of 55 King Air planes in the sky without humans aboard by building software that creates a think-for-itself pilot, a fully-autonomous flight. In addition, this technology could have applications in numerous other fields including military transport, agriculture, and firefighting. Both companies aim to roll out an artificially intelligent pilot in companies such as Amazon, the US Air Force, the California department of forestry and firefighting, and others to implement an artificially intelligent pilot to their existing fleets. 

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AI in Aviation Market Segmentation

By Offering

Hardware 
Software 
Services

By Technology

Context Awareness 
Machine Learning
NLP (Natural Language Processing)
Computer Vision

By Application

Virtual Assistants
Dynamic Pricing
Smart Maintenance
Manufacturing
surveillance
Flight Operations 
Training
Others

Regional Analysis                                                                                                                                                                            

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles 

Airbus SE
Amazon Web Services, Inc.
Garmin Ltd.
Intel Corp
International Business Machines Corp (IBM)
IRIS Automation Pvt. Ltd.
Kitty Hawk Corp.
Lockheed Martin Corp.
Micron Technology, Inc.
Microsoft Corp.
Northrop Grumman Corp.
Nvidia Corp.
Pilot AI Labs, Inc.
samsung electronics co., ltd.
Thales Group 
The Boeing Company 
The General Electric Company (GE Group)
Xilinx, Inc. 

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