Press release
Connected Aircraft Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Honeywell International Inc., Gogo Inc., Thales Group, Inmarsat plc, Collins Aerospace, Viasat Inc.,
Connected Aircraft Market Characteristics
The Business Research Company offers in-depth market insights through Connected Aircraft Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The connected aircraft market size has grown rapidly in recent years. It will grow from $6.82 billion in 2023 to $7.99 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to demand for operational efficiency, enhanced safety and situational awareness, rise in air passenger traffic, fuel efficiency and emissions reduction, government regulations and standards, increased aircraft complexity..
The connected aircraft market size is expected to see rapid growth in the next few years. It will grow to $14.45 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to next-gen air traffic management, demand for in-flight connectivity, predictive maintenance and health monitoring, smart cabin solutions, integration with ground operations, urban air mobility (uam) expansion, green aviation initiatives.. Major trends in the forecast period include rapid adoption of in-flight connectivity, integration of iot technologies, enhanced aircraft health monitoring, digitalization of cockpit and cabin systems, data analytics and artificial intelligence (ai), cybersecurity concerns..
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Market Segmentation:
The connected aircraft market covered in this report is segmented -
1) By Type: Systems, Solutions
2) By Connectivity: Inflight Connectivity, Air-to-Air Connectivity, Air-to-Ground Connectivity
3) By Frequency Band: Ka-band, Ku-band, L-band
4) By Application: Commercial, Military
Major Driver - Increasing Air Passenger Travel Fuels The Growth Of The Connected Aircraft Market
An increase in air passenger travel is expected to propel the growth of the connected aircraft market going forward. Air travel refers to the process of boarding an aircraft for the purpose of travelling from one location to another by any flying object. The increase in air passenger travel is resulting in airline companies making the addition of aircraft to their fleets to cater to the needs of the air passengers. For instance, in February 2023, according to the International Air Transport Association, a Canada-based trade association data, the revenue passenger kilometers, or RPKs, representing total traffic in 2022 increased by 64.4% over 2021. Compared to 2021, international traffic increased by 152.7% in 2022. In 2022, domestic traffic increased by 10.9% over the previous year. Therefore, the increase in air passenger travel is driving the growth of the connected aircraft market.
Competitive Landscape:
Major companies operating in the connected aircraft market report are Honeywell International Inc., Gogo Inc., Thales Group, Inmarsat plc, Collins Aerospace, Viasat Inc., BAE Systems plc, The Boeing Company, Airbus SE, Bombardier Aviation, Kontron AG, Panasonic Avionics Corporation, Nelco Ltd., Eutelsat S.A., Zodiac Aerospace, L3Harris Technologies, Société Internationale de Télécommunications Aéronautiques, Global Eagle Entertainment Inc., Cobham Aerospace Communications, Astronics Corporation, SmartSky Networks LLC, Intelsat S.A., Iridium Communications Inc., AeroVironment Inc., Avionica Inc., Satcom Direct Inc., Airspan Networks Inc., Tata SIA Airlines Limited, Gilat Satellite Networks Ltd., Phasor Inc.
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Top Trend - Technological Advancement Drives Growth In The Connected Aircraft Market
Technological advancement is a key trend gaining popularity in the connected aircraft market. Major companies operating in the connected aircraft market are focused on developing new technological solutions to strengthen their position. For instance, in April 2022, Universal Avionics, a US-based company operating in connected aircraft, launched its connectivity ecosystem technology that allows aircraft pilots to connect Apple iPads to the flight management system. This technology enables two-way communication, data collecting, FMS (flight management system) and other avionics system uploading and downloading. It enhances the relevant analytics of each flight and allow operators to optimize flight operations and aircraft availability for each aircraft or a fleet when connected to ground infrastructure.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Connected Aircraft Market Characteristics
3. Connected Aircraft Market Trends And Strategies
4. Connected Aircraft Market - Macro Economic Scenario
5. Connected Aircraft Market Size And Growth
…..
27. Connected Aircraft Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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