Aviation Analytics Global Market Report 2024 - By Growth, Share, Demand, Trends, Outlook By 2033

The aviation analytics market size has grown rapidly in recent years. It will grow from $3.01 billion in 2023 to $3.44 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to increased data generation in aviation, emphasis on safety and operational efficiency, rising complexity of airline operations, competition and cost management, increased demand for enhanced customer experience.

The aviation analytics market size is expected to see rapid growth in the next few years. It will grow to $5.84 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to advanced predictive maintenance, greater emphasis on safety analytics, increasing demand for real-time analytics, regulatory compliance and reporting, market demand for advanced analytics platforms.. Major trends in the forecast period include sustainability analytics in aviation, regulatory compliance analytics, data collaboration and sharing initiatives, greater integration of internet of things (iot), optimization of air traffic management.

Market Overview -
Aviation analytics refers to a computational technology that provides end-users with information or statistics derived from past airport operating data, historical flight data, weather predictions, and real-time flight data. It allows for predictive analysis and query processing of large amounts of structured and unstructured aviation data. Aviation analytics is staffed by specialists in the aviation sector with various expertises, including business process engineering, sales and marketing, and accounting.

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Elevated Aviation Passenger Traffic Fuels Growth In The Aviation Analytics Market
The rise in aviation passenger traffic is contributing to the growth of the aviation analytics market. Aviation analytics provides software and services that will help airports bring together their data so that the data is viewed by airport management in a complete and coordinated way. Aviation analytics will provide effective solutions to streamline the whole process of simplifying passenger traffic and making the operations hassle-free. According to the International Air Transport Association (IATA) passenger data for March 2022, total traffic in March 2022 (measured in revenue passenger kilometres or RPKs) was up 76% compared to March 2021. Thus, an increase in aviation will drive the aviation analytics market growth.

Competitive Landscape -
Major companies operating in the aviation analytics market report are IBM Corporation, Ramco Systems, SAP S. E., Swiss Aviation Software, Lufthansa Technik, Honeywell International Inc., Aviation Analytics, Airbus SAS, Boeing Company, Collins Aerospace, Oracle Corporation, General Electric Company, SAS Institute Inc., OAG Aviation Worldwide Limited, Accelya Solutions India Limited, Cirium (LexisNexis Risk Solutions), Hitachi Vantara Corporation, IFS AB, Mu-Sigma, Mercator Aviation Ltd., Wipro Limited, Teradata Corporation, TIBCO Software Inc., Tableau Software, QlikTech International AB, MicroStrategy Incorporated, Information Builders Inc., GoodData Corporation, Alteryx Inc., RapidMiner Inc., Datameer Inc.

Advancements In Aviation Analytics Revolutionize Operations
Technological advancement is a key trend gaining popularity in the aviation analytics market. Airlines and airports are increasingly adopting new technology and turning to aviation analytics to automate operations, cut costs, and improve customer satisfaction. For instance, in May 2021, Alaska Airlines signed a contract to deploy the Flyways AI technology. It is a flight tracking and routing program that helps dispatchers make better judgments and plan more effective routes. The technology generates data-driven forecasts and makes flight operations and routing suggestions. Flyways helped the airline cut miles, save 480,000 gallons of fuel, and save 4,600 tonnes of carbon emissions over the six-month trial period.

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Key Segments -
The aviation analytics market covered in this report is segmented -
1) By Component: Services, Solutions
2) By Deployment: On-Premise, Cloud
3) By Business Function: Finance, Operations, Maintenance And Repair, Sales And Marketing, Supply Chain, Other Business Funcations
4) By Application: Flight Risk Management, Fuel Management, Rout Management, Fleet Management, Inventory Management, Wealth Management, Inspection, Performance Monitoring, Predictive Analysis, Part Replacement, Supply Chain Planning, Energy Management
5) By End User: OEMs, Airlines, Airports, MROs

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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