IOT IN AVIATION Market Size, Share & Industry Analysis, By Component (Communication Service, Data Centre Systems, IT Services & Software), By Application (Ground Operations, Asset Management, Passenger Experience, Air Traffic Management), By End User (Airline, Airport, MROs, Manufacturers) Others and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI102103 | Status : Ongoing

KEY MARKET INSIGHTS

Internet of Things (IoT) termed as a combination of operation technology and information technology. The technology used to reduce human efforts. These are connected through a virtual intelligence to send, control, and receive data without human interference. IoT system is a combination of sensors, physical gadgets that are associated with the internet for powerful correspondence of information. Therefore, leveraging IoT solutions and services anticipated a new opportunity for the digital transformation of the airline process.

Key Market Driver -

Advancements in Wireless Network Technologies

Key Market Restraint -

Concerns Related to Data Privacy and Cybersecurity

The factors expected to drive the market are increasing demand for in-flight wireless network technology to access the internet service. Moreover, the optimization of the business process and improve passenger service anticipated to boost the market. Automated aircraft monitoring & reporting, reduction in operational expenses are the upcoming opportunities for the market. However, concerns related to data privacy and cybersecurity are factors affecting market growth.

Market Segmentation:

By component, the market segmented into communication service, data centre systems, and IT service &software. Based on the application, the market segmented into ground operations, asset management, passenger experience, and air traffic management. Based on end-user, the market categorised into the airline, airport, MROs, and manufacturers.

From a geographical standpoint, the market categorized into North America, Europe, Asia Pacific, and the Rest of the World.

Key Players Covered:

The major companies in the global IoT in aviation market report includes Huawei Technologies Co., LTD., Cisco Systems, Inc., SITAONAIR, Honeywell International Inc., Microsoft Corporation, Aeris, IBM Corporation, Sendum Wireless Corporation, Happiest Minds Technologies, Amadeus It Group Sa, Sendum Wireless Corporation, Arrow Electronics, Inc., and others.

Key Insights

New Advancements in IoT in Aviation

IoT Specification

IoT in smart airport

Regional Analysis:

North America expected to be the largest market for IoT in aviation during the forecast period. The global necessity for ground operations at airports is refueling market growth. It improves the efficiency of ground operations and makes it more reliable in airport operations. Additionally, the presence of key companies such as Cisco Systems, Inc. (US), IBM Corporation (US), and Honeywell Aerospace (US) and Microsoft Corporation (US) in the US projected to boost the market.

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Increasing demand for the smart airport in countries including China, India, and other countries, is projected to help the market growth in Asia pacific. However, growing deployment of IoT enabled infrastructure in the aviation industry, rise in demand for technologically advanced connected electronic flight bags, and in-flight Wi-Fi connectivity for mobile devices estimated to grow the market. Europe shows a considerable market share during the forecast period due to significant investment in smart airport concepts. Latin America and Middle East & Africa projected to exhibit a comparatively higher CAGR by the end of the forecast period.

Segmentation

ATTRIBUTE	DETAILS
By Component	Communication Service Data Centre Systems IT Services & Software
By Application	Ground Operations Asset Management Passenger Experience Air Traffic Management
By End User	Airline Airport MROs Manufacturers
By Geography	North America (The U.S., Canada) Europe (The UK, Germany, France, and Rest of Europe) Asia Pacific (China, India, Japan, and Rest of Asia Pacific) Rest of the World (Latin America, Middle East & Africa)

IoT in Aviation Market Industry Developments

In December 2019, the U.S Air Force and US based iCAMR awarded a contract with a valuation of USD 7.6 million for IoT based block chain solutions for IoT devices installed in the military aircraft.

In December 2019, the U.S Air Force and US based Xage Security signed a IoT based contract for block chain cybersecurity. It ensures the security of IoT and other devices installed in the military aircraft.

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SPEAK TO ANALYST

PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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