The global aviation IoT market size was valued at USD 4.95 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.4% from 2021 to 2028. The exponential growth in air passenger traffic and a strong emphasis on enhancing passenger experience are expected to fuel the growth of the market.
The aviation industry is adopting a digital ecosystem in line with the continued advances in intelligent technologies. Advances in wireless technology have particularly allowed the industry to enhance its operational efficiency. At the same time, advances in IoT are enhancing the existing digital ecosystem to offer technology-based services, such as baggage and document checking, flight booking, and automated check-in.
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The growing preference for automation systems in the aviation industry is one of the key factors that are contributing to the growth of the market. IoT can particularly help the aviation industry in enhancing the MRO services and reducing the downtime. The ability to predict the malfunctioning component and reduce the equipment downtime using advanced predictive software is allowing airlines to increase their revenues. Continued deployment of advanced technologies by service providers and the provisioning of customized solutions are also offering lucrative growth opportunities for the market. All these factors are expected to encourage airport operators and airlines to install IoT-compatible devices within airports and in aircraft, thereby opening revenue generation opportunities over the forecast period.
Key Player Mentioned:
- Honeywell International, Inc.
- Tata Communication
- Cisco Systems, Inc.
- Huawei Technologies Co. Ltd.
- SITAONAIR
Application Segment Analysis:
- Ground Operations
- Passenger Experience
- Aircraft Operations
- Asset Management
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Segmentation by Region :
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
The airline operators segment is growing steadily as airlines are focusing gradually on generating ancillary revenues. IoT can play an important role in providing access to various real-time data to airlines and in improving the in-flight cabin experience for passengers. The proliferation of smartphones is driving the demand for in-flight internet connectivity and personalized entertainment solutions, thereby opening opportunities for airlines to generate considerable ancillary revenues. The growing adoption of intelligent baggage monitoring and advanced cabin climate control solutions to enhance the overall passenger experience is also contributing to the growth of the segment.
The outbreak of the COVID-19 pandemic has taken a significant toll on the business and operations of the aviation industry. Even though the air passenger movement across domestic and international destinations has been recovering since Q3/2020, the recovery has been very slow. As per our research findings, the domestic aviation market is expected to recover faster than its international counterpart. Government policies and regulations regarding commercial air transport are also expected to have a direct impact on passenger volume.
The global Aviation IoT market is illustrated by key results:
- The Aviation IoT market research report comprises products developed, industries they cater to, and the strategies they adopt.
- Data related to the organizations such as the sales amassed by the manufacturers has also been mentioned. The report offers data related to the firm’s price models along with gross margins.
- The Aviation IoT market research report presents data regarding products and market share of the product segments.
- The report entails sales that are accounted for by the products and the revenues earned by these product segments.
- Information regarding the applications and sales projections for the given time period is included in the report.
Good Reasons to Buy a Global Aviation IoT Market Report:
- Offers detailed market breakdown and data triangulation that will help guide the market trends.
- The methodology used in the report gives the absolute authentic data that helps advising whether the market has an opportunity in the upcoming years.
- Provides a detail analysis about the Covid-19 impact on the market and how it will help boost the market in the near future.
- Give’s a thorough analyst’s viewpoint which guides the client through market collaterals for the better opportunities in the market.
- Pinpoints the most valued region and how the market can be expanded in the industry to generate more revenue with all the important government guidelines and environmental policies.
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Industrial Wireless Solution Market Research, By Type (Wireless Field Instruments, Mobile Computing Devices, Wireless Network), Organization Size (Large Enterprise, SMEs), Vertical (Process Industry, Discrete Industry) — Global Forecast till 2027Market SummaryMarket Research Future (MRFR), in its research report, highlights that the global demand 2020 is projected to rise rapidly over the forecast period, ensuring substantial market valuation from USD 2.55 billion in 2020 to USD 9.35 billion by 2027, and a healthy 25% CAGR over the review period.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/7246Drivers and RestraintsIn technology, the introduction of wireless technologies plays a major role in the rapid growth of radio frequencies and other connected computer applications, such as the industrial Internet of Things (IIoT).
Radio waves are required in industries to connect various devices, such as tablets, computers, servers and even Wi-Fi routers.
The adoption of wireless devices in industries has been witnessed to increase as they provide higher operational efficiency and rapid decision-making capabilities.
Additionally, the increased adoption of SDWAN solutions in industries also contributes to market growth.
These factors include data security concerns, and connectivity issues.
Furthermore, the process industry segments into food & beverage, chemicals and materials, energy and utilities, and others.
