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Global Aviation Analytics Market Size, Growth, Key Players And Forecast To 2033
Global Aviation Analytics Market Size
As per the report, 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 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%.
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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.
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.
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
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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.
Contents of the report:
1. Executive Summary
2. Aviation Analytics Market Report Structure
3. Aviation Analytics Market Trends And Strategies
4. Aviation Analytics Market - Macro Economic Scenario
5. Aviation Analytics Market Size And Growth
…..
27. Aviation Analytics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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