In terms of revenue, the Global Connected Aircraft Market is expected to reach USD 10.2 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 24.8% from 2022 to 2028.
One of the key trends that are expected to drive demand for commercial aircraft over the next two decades is the growing popularity of connected aircraft. Additionally, there are several other reasons why there is a growing demand for connected aircraft. First, the increasing complexity of modern aircraft requires greater coordination between different systems to function correctly. Second, as airspace gets increasingly crowded, there is a need for better situational awareness to avoid collisions. Finally, as airlines look to cut costs, they are searching for ways to improve fuel efficiency and reduce maintenance requirements – both of which can be addressed through connected aircraft solutions.
Some examples of connected aircraft applications include real-time engine performance monitoring, automated flight planning; enhanced weather avoidance; inflight passenger entertainment systems; and baggage tracking.
Key Highlights from Report:
● Some of the major drivers for the market are, efficiency shortfalls associated with a need for flight deck participation in collaborative decision making, Information exchanges between aircraft and ground systems, Critical aircraft equipment for advanced data communications capabilities, and FAA commitment to collaborate with international partners.
● The In-Flight Connectivity sub-segment accounted for the largest market share of the connectivity segment. This segment is expected to do well owing to the high demand for lightweight vessels. In addition, one of the main drivers of segment growth is the increasing demand for Wi-Fi current connectivity systems and 5G internet access for crew and passengers.
● North America held the largest Connected Aircraft Market share and is anticipated to be the most profitable market during the forecast period. The growth is attributed to the presence of major players engaged in aircraft systems and service providers such as Gogo LLC, Viasat, Inc., Collins Aerospace, and others.
As each service flight requires effective SATCOM service along with better connectivity, satellite components, airplane hardware, airtime connectivity, apps, services, and others, the market has benefited from the increase in the purchase of new aircraft and drones by the commercial and defense sectors. The demand for an additional fleet to manage civilized transportation and delivery operations has been highlighted by an increase in passengers around the globe.
The communication and maintenance operations can be made dependable by installing an embedded aircraft system, which limits impending component failures and repair services. Turkish Airlines announced in April 2022 that it would increase the number of flights into the country in order to strengthen its presence there. This would present a chance for investors in the maintenance industry to offer quality services.
In addition, the Connectivity Ecosystem Technology from Universal Avionics, which enables pilots to connect their Apple iPad to the flight management system, was introduced in April 2022. It enables two-way communication, data gathering, FMS upload/download, and other avionics system data upload/download.
North America market is anticipated to observe considerable market growth, with the highest growth rate during the forecast period. The region's market growth can be attributable to the presence of major players engaged in aircraft systems and service providers, such as Gogo LLC, Viasat, Inc., Collins Aerospace, and others. However, the market in the Asia Pacific is projected to grow at the highest CAGR (Compound Annual Growth Rate) during the forecast period. The expansion can be attributed to the strengthening economies of emerging nations like China and India. In addition, the market is anticipated to develop as a result of China's and India's increasing need for new aircraft.
The Global Connected Aircraft Market is Segmented as follows:
- Inflight Connectivity
- Air-to-Air Connectivity
- Air-to-Ground Connectivity
- Frequency Band
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Connected Aircraft Market is:
BAE Systems PLC, Zodiac Aerospace, Panasonic Avionics Corporation, Burrana Inc, Thales Group, Cobham PLC, Gogo LLC, Inmarsat PLC, Honeywell International Inc.
The Global Connected Aircraft Market Scope can be Tabulated as below:
|Market Size Provided for Years||2016-2028|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|