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The connected aircraft global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Connected Aircraft Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The connected aircraft market size has grown rapidly in recent years. It will grow from $6.82 billion in 2023 to $7.99 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to demand for operational efficiency, enhanced safety and situational awareness, rise in air passenger traffic, fuel efficiency and emissions reduction, government regulations and standards, increased aircraft complexity.
The connected aircraft market size is expected to see rapid growth in the next few years. It will grow to $14.45 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to next-gen air traffic management, demand for in-flight connectivity, predictive maintenance and health monitoring, smart cabin solutions, integration with ground operations, urban air mobility (uam) expansion, green aviation initiatives. Major trends in the forecast period include rapid adoption of in-flight connectivity, integration of iot technologies, enhanced aircraft health monitoring, digitalization of cockpit and cabin systems, data analytics and artificial intelligence (ai), cybersecurity concerns.
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Scope Of Connected Aircraft Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Connected Aircraft Market Overview
Market Drivers –
An increase in air passenger travel is expected to propel the growth of the connected aircraft market going forward. Air travel refers to the process of boarding an aircraft for the purpose of travelling from one location to another by any flying object. The increase in air passenger travel is resulting in airline companies making the addition of aircraft to their fleets to cater to the needs of the air passengers. For instance, in February 2023, according to the International Air Transport Association, a Canada-based trade association data, the revenue passenger kilometers, or RPKs, representing total traffic in 2022 increased by 64.4% over 2021. Compared to 2021, international traffic increased by 152.7% in 2022. In 2022, domestic traffic increased by 10.9% over the previous year. Therefore, the increase in air passenger travel is driving the growth of the connected aircraft market.
Market Trends –
Technological advancement is a key trend gaining popularity in the connected aircraft market. Major companies operating in the connected aircraft market are focused on developing new technological solutions to strengthen their position. For instance, in April 2022, Universal Avionics, a US-based company operating in connected aircraft, launched its connectivity ecosystem technology that allows aircraft pilots to connect Apple iPads to the flight management system. This technology enables two-way communication, data collecting, FMS (flight management system) and other avionics system uploading and downloading. It enhances the relevant analytics of each flight and allow operators to optimize flight operations and aircraft availability for each aircraft or a fleet when connected to ground infrastructure.
The connected aircraft market covered in this report is segmented –
1) By Type: Systems, Solutions
2) By Connectivity: Inflight Connectivity, Air-to-Air Connectivity, Air-to-Ground Connectivity
3) By Frequency Band: Ka-band, Ku-band, L-band
4) By Application: Commercial, Military
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Regional Insights –
North America was the largest region in the connected aircraft market in 2023. North America is expected to be the fastest-growing region in the connected aircraft market report during the forecast period. The regions covered in the connected aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the connected aircraft market report are Honeywell International Inc., Gogo Inc., Thales Group, Inmarsat plc, Collins Aerospace, Viasat Inc., BAE Systems plc, The Boeing Company, Airbus SE, Bombardier Aviation, Kontron AG, Panasonic Avionics Corporation, Nelco Ltd., Eutelsat S.A., Zodiac Aerospace, L3Harris Technologies, Société Internationale de Télécommunications Aéronautiques, Global Eagle Entertainment Inc., Cobham Aerospace Communications, Astronics Corporation, SmartSky Networks LLC, Intelsat S.A., Iridium Communications Inc., AeroVironment Inc., Avionica Inc., Satcom Direct Inc., Airspan Networks Inc., Tata SIA Airlines Limited, Gilat Satellite Networks Ltd., Phasor Inc.
1. Executive Summary
2. Connected Aircraft Market Report Structure
3. Connected Aircraft Market Trends And Strategies
4. Connected Aircraft Market – Macro Economic Scenario
5. Connected Aircraft Market Size And Growth
…..
27. Connected Aircraft Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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