The Connected Aircraft Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Connected Aircraft Global Market Report 2024, 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..
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.
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The connected aircraft market covered in this report is segmented –
1) Connected Aircraft Market By Type: Systems, Solutions
2) Connected Aircraft Market By Connectivity: Inflight Connectivity, Air-to-Air Connectivity, Air-to-Ground Connectivity
3) Connected Aircraft Market By Frequency Band: Ka-band, Ku-band, L-band
4) Connected Aircraft Market By Application: Commercial, Military
Top Major Players
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 report table of contents includes:
1. Executive Summary
2. Connected Aircraft Market Characteristics
3. Connected Aircraft Market Trends And Strategies
4. Connected Aircraft Market – Macro Economic Scenario
5. Global Connected Aircraft Market Size and Growth
…….
31. Global Connected Aircraft Market Competitive Benchmarking
32. Global Connected Aircraft Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Connected Aircraft Market
34. Connected Aircraft Market Future Outlook and Potential Analysis
35. Appendix
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