Aviation Iot Market Players: Tata Communication, Cisco Systems, Inc., Huawei Technologies Co. Ltd., And SITAONAIR

 Aviation IoT Industry Overview

The global aviation IoT market size was valued at USD 4.95 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.4% from 2021 to 2028. The exponential growth in air passenger traffic and a strong emphasis on enhancing passenger experience are expected to fuel the growth of the market. Continuous advances in wireless technology and a growing preference for smart airport architecture are contributing to market growth. The aviation industry has witnessed an unprecedented increase in passenger traffic in recent years. Subsequently, airport authorities and airline operators worldwide are aggressively adopting the latest technologies to optimize their business flow and cope with the unabated growth in passenger traffic. The key aviation industry players are particularly adopting data-driven approaches to make their business decisions. Internet of Things (IoT) plays a vital role in collecting data in the aviation industry by providing statistical summaries to facilitate airport management. Aviation companies can utilize these statistical summaries to obtain actionable insights while reducing human interference.

Gather more insights about the market drivers, restraints and growth of the Global Aviation IoT market

The aviation industry is adopting a digital ecosystem in line with the continued advances in intelligent technologies. Advances in wireless technology have particularly allowed the industry to enhance its operational efficiency. At the same time, advances in IoT are enhancing the existing digital ecosystem to offer technology-based services, such as baggage and document checking, flight booking, and automated check-in.

Advances in Artificial Intelligence (AI) and Machine Learning hold immense potential to fuel the growth of the market. These technologies can be used for several applications associated with the aviation industry. For instance, advanced facial recognition AI is being used widely for ensuring security, efficiency, and accuracy while validating the details of passengers. This is subsequently helping in reducing the waiting times associated with the check-in procedures while strengthening the biometric airport screening processes. Aggressive investments by government authorities to build smart airport infrastructure and intense competitive rivalry among airlines to enhance passenger experience particularly bode well for the implementation of IoT in the aviation industry.

The growing preference for automation systems in the aviation industry is one of the key factors that are contributing to the growth of the market. IoT can particularly help the aviation industry in enhancing the MRO services and reducing the downtime. The ability to predict the malfunctioning component and reduce the equipment downtime using advanced predictive software is allowing airlines to increase their revenues. Continued deployment of advanced technologies by service providers and the provisioning of customized solutions are also offering lucrative growth opportunities for the market. All these factors are expected to encourage airport operators and airlines to install IoT-compatible devices within airports and in aircraft, thereby opening revenue generation opportunities over the forecast period.

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Aviation IoT Market Segmentation

Grand View Research has segmented the global aviation IoT market by application, end-use, and region:

Aviation IoT Application Outlook (Revenue, USD Million, 2016 - 2028)

  • Ground Operations
  • Passenger Experience
  • Aircraft Operations
  • Asset Management

Aviation IoT End-use Outlook (Revenue, USD Million, 2016 - 2028)

  • Airport
  • Airline Operators
  • MRO
  • Aircraft OEM

Aviation IoT Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies profiled:

Some prominent players in the global Aviation IoT market include

  • Honeywell International, Inc.
  • Tata Communication
  • Cisco Systems, Inc.
  • Huawei Technologies Co. Ltd.
  • SITAONAIR

 

Order a free sample PDF of the Aviation IoT Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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