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The global connected aircraft market size is projected to reach USD 10.49 billion by 2027. The increasing adoption of predictive analytics for alerting about real-time technical conditions would boost growth. It would help in maintaining crew spot issues and repairing glitches efficiently. Fortune Business Insights™ published this information in a new study, titled, “Connected Aircraft Market Size, Share & COVID-19 Impact Analysis, By Type (System and Solutions), By Connectivity (In-Flight Connectivity, Air-to-Air Connectivity, Air-to-Ground Connectivity), By Application (Commercial and Military), By Frequency (Ka-Band, Ku-Band, L-Band), and Regional Forecast, 2020-2027.” The study further mentions that the market size was USD 4.18 billion in 2019. But, it is set to exhibit a CAGR of 22.9% during the forecast period between 2020 to 2027.
Panasonic and Nelco Sign Agreement to Provide Satellite Connectivity Services in India
In February 2020, Panasonic Avionics Corporation signed an agreement with Nelco Limited to deliver satellite connectivity services to those flying to India via the Indian airspace. Under the latter’s Department of Telecommunications license for In-Flight and Maritime Connectivity (IFMC), Panasonic will be the first satellite communications provider.
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Rising Demand for Broadband Connectivity to Accelerate Growth
The increasing need for operational efficiency is set to result in the rapid shift of people towards more efficient systems. They are now looking forward to replacing the data connection and conventional data optimization systems. These would also include wireless electronic flight bags (EFB) and aircraft interface devices (AID).
Moreover, the increasing usage of broadband connectivity and SATCOM solutions in the aircraft would propel the connected aircraft market growth in the near future. Renowned airlines, such as Qatar Airways are investing huge sums in enhancing the inflight experiences of passengers by installing Ku-band high-speed connectivity solutions. However, the COVID-19 pandemic is likely to hinder the demand for connected aircraft because of the declining or postponement of new order deliveries.
Key Players Aim to Gain a Competitive Edge by Winning New Contracts
The market for connected aircraft houses several manufacturers that are mainly focusing on achieving new contracts from government or private airline agencies to deliver their unique products. Honeywell International, for instance, is considered to be a significant company globally. It provides IoT-based products and possesses a strong branding strategy.
Fortune Business Insights™ lists out the names of all the prominent connected aircraft manufacturers present in the global market. They are as follows:
A Noteworthy Industrial Development-
Further Report Findings-
The global market can be segmented in the following way:
Value (USD Billion)