In Flight Entertainment Market Applications And Regions, Share Leaders And Forecast 2028

According to Premium Market Insights new research study on "Flight Entertainment Market is expected to grow from US$ 6.01 billion in 2022 to US$ 9.46 billion by 2028; it is anticipated to grow at a CAGR of 9.1% from 2022 to 2028.

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Some Of the Major Players Influencing are Astronics Corporation, Burrana Inc, Deutche Lufthansa AG, Anuvu, Honeywell International Inc, Panasonic Corporation, Thales Group, and Viasat Inc are among the key in flight entertainment market players operating across the globe.

The in flight entertainment market in Asia-Pacific is evolving due to increasing investments in cabin interiors, advanced technologies, and hardware components. This region comprises a few countries, including China, Japan, and India, with the largest aircraft fleet. The presence of a huge middle-class population and a strong growth in the spending of the population coupled with a wide range of income levels are among the factors that influence the aviation industry in Asia pacific. The presence of many dynamic and developing economies in APAC, especially in South East Asia, positively influences the growth of the industry. Boeing Co., Airbus, and other prominent aircraft manufacturers have planned to set their manufacturing bases in South East Asian countries such as Malaysia, Thailand, and Singapore, which would offer lucrative opportunities for the in flight entertainment market players in the coming years.

The growth of the in flight entertainment solution market is highly influenced by the remarkable rise in air travel across the world. The demand for air travel has increased considerably over the years due to the surge in disposable income among middle-class and upper-middle-class populations across the world. Based on region, North America contributed the largest share of the in flight entertainment market in 2021, owing to the rising number of air travelers, high demand for aircraft, and technological advancements in the region. Moreover, the North American airline industry is expected to generate onboard sales opportunity by enabling the airlines to provide their passengers with exclusively streamed content. Further, the market in APAC is expected to grow rapidly in the coming years due to the increasing commercial air traffic that would surge the demand for in flight entertainment systems.

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Strategic Insights

The in flight entertainment market is growing significantly in the UK. The UK has the highest number of air passengers in European region, and the region is experiencing a significant demand for air travel, owing to increasing disposable income leading to higher air travel percentage. The British Airways, a major airline company in U.K had introduced its in-flight entertainment in majority of its aircraft fleet. Several other airline in the country are also rapidly adopting advanced IFE systems, thereby contributing to the in flight entertainment market growth.

The global airspace market is experiencing huge demand for air travel in terms of commercial aircraft. This is leading the airlines to procure latest aircraft and adopt new and robust technologies to modernize the existing aircraft. Modernization of existing commercial aircraft is expected to emerge as a major trend in the aviation industry, which would benefit the business of aircraft component manufacturers during the forecast period. The manufacturers are designing and manufacturing advanced entertainment systems, which is increasing the adoption rate of advanced IFE systems among commercial aircraft manufacturers.

Regional Analysis of In Flight Entertainment Market

The aviation sector in Europe is one of the largest aviation sectors across the globe. Most countries in the region have a wider range of airlines and aircraft fleets. A few major airlines in Europe are Lufthansa, British Airways, Air France, Virgin Atlantic, KLM Royal Dutch Airlines, Turkish Airlines, Finnair, Swiss International Air Lines, Austrian Airlines, and Aeroflot. These airlines cater to short-haul, medium-haul, and long flights, which offer the European mass to avail air transportation easily to commute. Apart from these airlines, Europe's airspace is covered by several low-cost carriers, and the number of low-cost carriers is growing rapidly. This factor is also facilitating the Europeans to opt for air travel, which is driving the growth of the in flight entertainment market share in Europe.

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Aircraft Type-Based Insights

Based on aircraft type, the in flight entertainment market is segmented into narrow body aircraft, wide body aircraft, and business jets. The narrow body aircraft segment accounted for the largest market share in 2021. Narrow body aircraft or single aisle aircraft offer up to six abreast seating capacities. It is the most actively used aircraft among the major airlines across the world. The number of short-haul air routes is rising exponentially globally, leading to an increase in the procurement of narrow-body aircraft, since these aircraft are more fuel efficient than wide body aircraft. The growing operation of narrow-body aircraft is fueling the demand for enhanced technologies from short and medium-haul air passengers. Therefore, the airline's operators are equiping their narrow-body aircraft with in flight entertainment systems to improve customer experience by providing advanced in flight connectivity and entertainment facilities. These factors are contributing to the in flight entertainment market growth in the narrow body aircraft segment.

Players operating in the in flight entertainment market are developing advanced and efficient products.

In July 2022, Luxair announced the launch of its new in flight entertainment platform in partnership with RTL.

In July 2022, Yeti Airline announced the launch of its in flight entertainment services on their domestic flights. This is expected to increase the demand for in flight entertainment systems.

The in flight entertainment market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America. In 2021, North America led the market with a substantial revenue share, followed by Europe. Further, Asia Pacific is expected to register the highest CAGR in the in flight entertainment market forecast from 2022 to 2028.

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This release was published on openPR.