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  • Artificial Intelligence in Aviation Market Growth Analysis | 2023-2029

    Artificial Intelligence in Aviation Market Growth Analysis | 2023-2029

    Artificial Intelligence in Aviation Market Growth Analysis | 2023-2029
    Report code - SR2464 Delivery - 2 Weeks
    Artificial Intelligence in Aviation Market Size, Share, Trends, Forecast, & Growth Ana See more...

    Market Insights

    The artificial intelligence in aviation market was estimated at USD 1.13 billion in 2022 and is likely to grow at a CAGR of 27.2% during 2023-2029 to reach USD 6.08 billion in 2029.

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    What is artificial intelligence in aviation?

    Artificial Intelligence (AI) is being increasingly used in the aviation industry to improve safety, efficiency, and passenger experience. Artificial intelligence algorithms can assist pilots with tasks such as flight planning, navigation, and weather monitoring, improving the accuracy of decision-making and reducing the risk of accidents. Artificial intelligence can also optimize aircraft performance, reducing fuel consumption and emissions.

    In addition, Artificial intelligence can improve airport operations by providing real-time monitoring of air traffic, baggage handling, and security screening. AI-powered chatbots and virtual assistants can also enhance the passenger experience by providing personalized assistance and reducing waiting times. Overall, artificial intelligence in aviation is transforming the industry by making it safer, more efficient, and more passenger-centric. As the technology continues to advance, even more innovative applications of artificial intelligence in aviation are expected in the future.

    Artificial Intelligence in Aviation Market Report Highlights

    Market Size in 2022

    USD 1.13 billion

    Market Size in 2029

    USD 6.08 billion

    Market Growth (2023-2029)

    27.20% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2029

    Key Players

    The major players operating in the global market are:

    • NVIDIA
    • Samsung Electronics
    • Xilinx
    • Intel
    • Micron
    • Microsoft
    • IBM
    • Amazon
    • Airbus
    • Boeing
    • GE
    • Thales
    • Lockheed Martin
    • Garmin
    • IRIS Automation
    • Neurala
    • Kittyhawk
    • Pilot AI Labs
    • Northrop Grumman
    • Paladin: Paradigm Knowledge Solutions
    • Cognitive Code
    • Searidge Technologies
    • Innovative Binaries

    Market Dynamics

    Artificial intelligence in aviation market is primarily driven by several key factors, which include the utilization of big data within the aerospace industry, a significant rise in capital investments by aviation companies, and an increasing adoption of cloud-based applications and services throughout the aviation industry. As airline companies seek to avoid disruptions in passenger services, there is a substantial opportunity for the artificial intelligence market within the aviation sector.

    Artificial intelligence can facilitate real-time decision-making processes, reducing the need for human intervention and thereby improving overall operational efficiency. However, it should be noted that AI systems are not infallible and may occasionally make errors during analysis or when making real-time decisions, which could present a challenge to the growth of the market.

    Increased usage of virtual assistants in the aviation sector

    The growth of the market is being propelled by several key factors, including the extensive use of large data sets in the aerospace industry, a significant increase in capital investments by aviation companies, and a growing adoption of cloud-based applications and services in the aviation sector.

    Artificial intelligence is already being integrated into various services and systems within the aviation industry, such as baggage screening, passenger identification, maintenance, customer support, facial recognition, and aircraft fuel optimization, among others. Automation in aviation has the potential to enhance customer satisfaction and improve the overall efficiency of the system. With the continuous advancement of technology, new industries are emerging, such as big data and cloud-based applications.

    The integration of big data in the aviation industry can have several benefits, including enabling smart maintenance, optimizing fuel efficiency, enhancing services, and improving security. Artificial intelligence solutions can provide cost-effective and efficient management of services, further driving the growth of artificial intelligence within the aviation market. This can result in improved operational performance and timely delivery of services, ultimately enhancing the overall customer experience.

    Over the forecast period, virtual assistants are projected to see significant growth and hold the largest market share among all artificial intelligence applications in the aviation industry. By leveraging AI-based virtual assistants, airline companies can enhance their productivity and pilot efficiency by delegating recurring tasks such as changing radio channels, reading wind forecasts, and providing position information upon request. These repetitive tasks in the aviation industry are now being managed by AI-enabled virtual assistants.

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    Segment Analysis

    By Offering Type

    The largest share of the overall artificial intelligence in aviation market is held by software offerings. This can be attributed to the advancements in AI software designed for various applications, including surveillance, flight operations, and airport operations. AI systems typically consist of software components such as application program interfaces, which encompass language, speech, vision, and sensor data, as well as machine learning algorithms. These components work in tandem to enable a wide range of artificial intelligence applications within the aviation industry.

    By Technology Type

    During the forecast period, machine learning is expected to hold the largest share among all technologies within the market. This can be attributed to machine learning's capacity to collect and manage large datasets, as well as its enhanced ability to perform calculations that were previously considered impossible. These factors are driving the growth of the machine-learning market within the aviation industry.

    By Application Type

    Throughout the forecast period, virtual assistants are anticipated to have the largest share of the market among all applications. AI-powered virtual assistants assist airline companies in enhancing productivity and increasing pilot efficiency by handling repetitive tasks such as changing radio channels, providing position information upon request, and reading wind forecasts.

    Garmin (US) provides AI-equipped audio panels that allow pilots to operate them without removing their hands from the controls. Additionally, virtual assistants assist airline companies in improving customer service. Virtual assistants are capable of quickly providing answers to basic inquiries related to flight status, as well as available services like audio, video, and Wi-Fi, freeing up customer representatives to address more pressing concerns and improve overall customer experience.

    Airports also use virtual assistants to assist air travelers in various ways. For instance, Barcelona (Spain) airport has implemented a virtual assistant in the security line to assist passengers with check-in procedures and security instructions. With the benefits that these systems offer, it is expected that airline companies will adopt virtual assistants on a large scale in the near future.

    Regional Insights

    Between 2022 and 2029, artificial intelligence in aviation market in Asia Pacific is expected to experience significant growth. This growth can be attributed to the substantial demand for AI technologies in countries like China and Japan to enhance the efficiency of their aviation industry.

    For instance, Alibaba Group Holding Limited (China) has recently announced its plans to provide AI-based solutions to alleviate congestion at Beijing Airport, making it easier for pilots to find parking slots for their aircraft. Additionally, the growing use of machine learning and natural language processing (NLP) technologies in virtual assistance and training applications within the aviation industry is fueling the market's growth in Asia Pacific.

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    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The artificial intelligence in aviation market is segmented into the following categories:

    By Offering Type

    • Software
    • Hardware
    • Services

    By Technology Type

    • Machine Learning
    • Natural Language Processing
    • Context Awareness Computing
    • Computer Vision

    By Application Type

    • Smart Maintenance
    • Flight Operations
    • Training, Surveillance
    • Virtual Assistants
    • Dynamic Pricing
    • Manufacturing

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, Norway, and the rest of Europe)
    • Asia-Pacific (Country Analysis: China, India, Japan, Australia, Indonesia, and the rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

    We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Artificial Intelligence in Aviation Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.

    Recent Developments

    • In October 2022, Searidge Technologies created an AI-powered software using NVIDIA GPUs. Its Digital Tower and Apron solutions, use vision AI to manage traffic control for airports and alert users of safety concerns in real-time. The solutions help the aviation industry avoid trafficrelated issues, increasing efficiency and enhancing safety for airports.
    • In April 2022, Bangalore International Airport Limited (BIAL) collaborated with Amazon to establish a Joint Innovation Center (JIC), and accelerate innovation in aviation.
    • In April 2022, Boeing and Microsoft expanded their partnership in digital aviation. As part of a significant investment in the company’s digital future, Boeing leverages the Microsoft Cloud and its AI capabilities to streamline business processes, upgrade its critical infrastructure, and accelerate new innovations in digital aviation.

    Frequently Asked Questions (FAQs)

    Artificial Intelligence (AI) is being increasingly used in the aviation industry to improve safety, efficiency, and passenger experience. AI algorithms can assist pilots with tasks such as flight planning, navigation, and weather monitoring, improving the accuracy of decision-making and reducing the risk of accidents. AI can also optimize aircraft performance, reducing fuel consumption and emissions.

    The artificial intelligence in aviation market was estimated at USD 1.13 billion in 2022.

    The artificial intelligence in aviation market is likely to reach USD 6.08 billion in 2029.

    The artificial intelligence in aviation market is expected to grow at a CAGR of 27.2% during 2023-2029.

    The major players operating in the global market are NVIDIA, Samsung Electronics, Xilinx, Intel, Micron, Microsoft, IBM, Amazon, Airbus, Boeing, GE, Thales, Lockheed Martin, Garmin, IRIS Automation, Neurala, Kittyhawk, Pilot AI Labs, Northrop Grumman, Paladin: Paradigm Knowledge Solutions, Cognitive Code, Searidge Technologies, Innovative Binaries.

    Throughout the forecast period, virtual assistants are anticipated to have the largest share of the market among all applications. AI-powered virtual assistants assist airline companies in enhancing productivity and increasing pilot efficiency by handling repetitive tasks such as changing radio channels, providing position information upon request, and reading wind forecasts.

    The study period of the market is 2017-2029.

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