Airline Technology Integration Market Set to Expand at a Staggering 15.9% CAGR, Reaching $89.1 billion by 2031

According to a new report published by Allied Market Research, titled, "Airline Technology Integration Market," The airline technology integration market size was valued at $21 billion in 2021, and is estimated to reach $89.1 billion by 2031, growing at a CAGR of 15.9% from 2022 to 2031.

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Airlines all over the world are trying to provide their customers with extraordinary experiences at every touchpoint, from the time of inquiry to the flight's departure. They do this by responding to all of their customer's questions and requests for feedback, handling their customers' inquiries, and using analytics to improve their data over time. To enhance services, attract new customers, and stay ahead of maintenance challenges, the airline sector is increasingly adopting cutting-edge technologies.

Numerous airlines have struggled over the past few years to keep pace with the increasing demand for comfortable and economical air travel. The airline sector is undergoing a digital revolution, and the integration of cutting-edge technology like advanced analytics, biometrics, cybersecurity, etc. into airports is just the start of that process. Due to the adoption of advanced technologies, airport officials can get information about seasonal travel trends and consumer behavior. Airport authorities can react promptly to the growth in foot traffic without revamping an airport.

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The airline technology integration market is being driven by growing demand from the airline industry. To combat climate change, the airline industry has established objectives such as attaining net carbon-neutral growth, increasing fuel efficiency, and reducing net aviation carbon emissions. Thus, to reduce the environmental effects of air travel and to improve ground and flight operations and passenger satisfaction, the airline sector players are increasingly adopting cutting-edge technologies.

Airlines are employing connected sensors on board their commercial aircraft to improve their capacity to undertake predictive maintenance. High implementation cost for cutting-edge technologies is expected to hamper market growth. The world has been witnessing an increase in cyber-attacks against all sectors including the airline sector. This sector is characterized by extensive interconnectivity and complexity, a high level of media exposure, and its critical role in the socioeconomic development of States. This, in turn, is expected to offer ample growth opportunities for Airline Technology Integration Industry players.

The Airline Technology Integration market share is segmented on the basis of technology, offering, deployment, and region. As per technology, it is classified into internet of things (IoT), cybersecurity, artificial intelligence, advanced analytics, biometrics, blockchain, wearable technology, and others. By offering the market is categorized into software and hardware. Based on deployment, the airline technology Integration market is divided into on-premises and cloud. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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The key market players analyzed in the global airline technology integration market report include Boeing, Collins Aerospace, Honeywell International Inc. IBM, L3Harris Technologies, General Electric, Lufthansa Technik, Airbus, and OracleSAP SE. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report helps formulate the business performance and developments by the top players.

The report offers a comprehensive analysis of the global airline technology integration market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working toward the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market.

Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with Porter's five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and the emergence of substitutes in the airline technology integration market forecast period.

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Impact of COVID-19 on the Global Airline Technology Integration Industry:

1. The COVID-19 outbreak severely hampered the economic activities worldwide. To limit the spread of the virus various steps such as social distancing, lockdowns, travel bans, etc had been taken worldwide.

2. The COVID-19 outbreak had an unprecedented impact on many sectors including the airline sector. This in turn, also hampered the airline technology integration market.

3. COVID-19's influence on technology may be extremely favorable in the medium-to-long term, as everyone is forced to accept new technologies and discover their benefits. Further investments in digital infrastructure are expected.
Many airline operators reduced their spending on digitalization during the pandemic due to reduced air passengers.

Key Findings of the Study

1. By technology, the cybersecurity segment was the highest revenue contributor to the market in 2021 and artificial intelligence sub-segment is anticipated to continue its dominance during the forecast period

2. By offering, the software segment is accounted a dominated the global market in 2021 and is estimated to be the fastest growing during the forecast years.

3. Based on deployment, the on-premises segment was the highest revenue contributor to the market in 2021 and cloud segment is estimated to be the fastest growing during the forecast years

4. Based on region, North America was the highest revenue contributor to the market in 2021. However, Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period

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