Passenger Service System Market to Surpass USD 18.49 billion by 2030 | Expansion in the Aviation Industry is Driving the Growth of the Market

Market Sizing and Scope:

Currently valued at USD 8.62 billion in 2022, the Passenger Service System Market is slated to double its worth by 2030, exhibiting a compound annual growth rate (CAGR) of 10.01% over the forecast period. A fundamental shift is underway in the aviation sector as the Passenger Service System (PSS) market gains momentum, poised to exceed USD 18.49 billion by 2030. This surge is not just a projection; it's a testament to the robust expansion within the aviation industry that's reshaping the passenger experience.

This comprehensive software platform, pivotal for airlines and travel entities, encompasses passenger reservations, check-ins, flight management, baggage handling, and more. Serving as the central nexus for passenger data and facilitating seamless interactions, it streamlines aviation operations, ensuring efficiency and customer satisfaction.

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Key Players:

The major players in market are IBM Corporation, Travelport Worldwide Ltd., KIU System Solutions, Information Systems Associates FZE, IBS Software Services Pvt. Ltd., Bravo Passenger Solutions Pte Limited, Hewlett Packard Enterprise, Enoya-one LTD., Travel Technology Interactive, Unisys Corporation, Hexaware Technologies Ltd., Mercator Limited, Hitit Computer Services A.S., Intelisys Aviation Systems Inc., Amadeus IT Group SA, Radixx International, Inc., Travelsky Technology Ltd., Sabre Corp., Sirena-Travel JSCS, and others in final report.

Driving Forces Behind Market Growth:

The growth trajectory of the Passenger Service System market is an outcome of several pivotal factors. The escalating number of air travelers, coupled with the intricate pre- and post-flight procedures, has been a driving force behind the upsurge in airline Passenger Service Systems. The infusion of augmented reality and artificial intelligence is further propelling this growth, enhancing the system's functionalities and efficiency. Additionally, the rise in demand for transportation systems, especially airline reservation systems, is consolidating market share, primarily fueled by rapid industrialization.

Segment Analysis:

The segment analysis showcases the dominance of certain components and deployments. The solution segment, particularly the airline reservation system, reigns supreme due to its critical role in managing bookings, seat availability, and flight schedules, thus being pivotal for customers seeking flight reservations.
Cloud-based deployments have emerged as the frontrunner, offering scalability, flexibility, and cost-efficiency. Their ability to adapt swiftly to changes and dynamically allocate resources has propelled their adoption among airlines seeking operational agility.

Market Segmentation and Sub-Segmentation Included Are:

By Component:
• Software
• Services

By Service:
• Airline Reservation System
• Airline Inventory System
• Departure Control System
• Internet Booking System
• Loyalty System
• Customer Care System
• Others

By Deployment:
• Cloud
• On-Premise

By Solution:
• Inventory Management
• Loyalty Management
• Reservation Management
• Others

Key Regional Developments:

North America, especially the U.S., is at the forefront, courtesy of substantial government investments in infrastructure and robust passenger transport services. Meanwhile, the Asia Pacific region, encompassing burgeoning economies like India, Japan, and China, offers a fertile ground for market expansion due to its burgeoning demand and developmental prospects.

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Key Takeaways:

• Escalating air travel and technological advancements drive Passenger Service System growth.
• Dominance of cloud-based deployments and pivotal role of airline reservation systems propel market expansion.

Recent Developments:

In November 2022, Sabre Corporation extended its partnership with Oman Air, supporting strategic objectives via a multi-year extension of their distribution system and renewal of the SabreSonic Passenger Service System. Similarly, Air India's move to adopt Amadeus for its reservations system in May 2022 reflects the industry's constant drive for technological advancements and operational efficiency.

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Table of Contents:

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1. COVID-19 Impact Analysis
4.2. Impact of Ukraine- Russia war
4.3. Impact of Ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. Passenger Service System Market Segmentation, By Components
9. Passenger Service System Market Segmentation, By Service
10. Passenger Service System Market Segmentation, By Deployment
11. Passenger Service System Market Segmentation, By Solution
12. Regional Analysis
13. Company Profile
14. Competitive Landscape
15. USE Cases and Best Practices
16. Conclusion

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