Press release
Projected 48.64% CAGR Growth: 5G in Aviation Market Set to Reach USD 10.41 Billion by 2030
5G in Aviation Market size was estimated at USD 0.65 billion in 2022. The 5G in aviation market industry is anticipated to see a compound annual growth rate (CAGR) of 48.64% from 2023 to 2030, rising from USD 0.96 billion in 2023 to USD 10.41 billion. The key market factors accelerating the market expansion are anticipated to be the growing focus on upgrading the flying experience and establishing in-flight connectivity.
The aviation sector collaborates with the technology and communication industries to deliver enhanced services during air travel. The need for air travel has expanded, which has sped up the creation of yet another technological improvement in the aviation industry. The expansion of airport Wi-Fi has been primarily fueled by the rising need for better communication and internet access in airports.
Numerous technological developments in the aviation industry, including better communication tools for airport officials, have been made possible by the 5G connectivity. It can connect almost anything, including machinery and devices. The effectiveness of communication in aircraft and control towers is improved by the deployment of 5G.
Real-time data transfer was made possible by 5G's usefulness in the aviation sector, which facilitated airport operations. The 5G connectivity has significantly improved the travel experiences of passengers. People discovered that this improved connectivity was significantly more efficient since 5G in the Aviation Market has played a significant part in air travel.
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Segmentation
According to connectivity type, the 5G in aviation market is divided into ground-to-ground communication and air-to-ground communication.
According to communication infrastructure, the 5G in the aviation market is segmented into small cells and distributed antenna systems. The market sector will expand more quickly in the coming years thanks to its capacity to handle high data rates while serving extremely small geographic areas.
The 5G application category in Aviation Market Size separates airport and airline activity. It is projected that the airport operating segment would increase at the highest pace over the assessment period. This segment has dominated the 5G in Aviation Market statistics in recent years.
Based on end-use into airports and aircraft, the airport segment now holds a sizeable market share in the global 5G in aviation industry. The growth of smart airports is driving this market sector.
The analysis offers market information for North America, Europe, Asia-Pacific, and the rest of the world, organised by region. In terms of network design/deployment, research and development efforts for 5G technology for aviation, and the presence of significant industry participants, North America holds the largest market share. There is a great demand for air travel in the area, and air passenger traffic is significantly growing. As the number of passengers increases, so does the need for airports and aircraft to have reliable internet access. The market in this region will grow as a result of the region's well-known rapid adoption of cutting-edge technologies like the Internet of Things (IoT), artificial intelligence (AI), and autonomous/connected aircraft.
Key Players:
The key players identified in the 5G in aviation market are
• Honeywell International, Inc. (US)
• Huawei Technologies Co., Ltd (China)
• Ericsson (Sweden)
• Nokia (Finland)
• Cisco Systems, Inc. (US)
• Panasonic Avionics Corporation (US)
• GOGO LLC (US)
• Global Eagle (US)
• OneWeb (UK)
• SmartSky Networks, LLC (US)
• Sprint Corporation (US)
• SK Telecom Co., Ltd (South Korea)
• KT Corporation (South Korea)
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