Aviation Analytics Market Forecast Analysis | 2023-2028

"The global aviation analytics market is estimated to grow from USD 2.7 billion in 2022 to USD 5.84 billion by 2028 at a CAGR of 13.50% during the forecast period."

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Market Dynamics

Introduction

Aviation Analytics is a technology that allows the end-users to avail flight details with ease. This information may consist of real-time flight details, weather forecasts, past data on airport operations, and many others.

Aviation Analytics function based on finance, operations, supply chain, maintenance & repair, sales & marketing, and others. Fuel management, flight risk management, revenue management, customer analytics, navigation services, inventory management, and others are the application areas where aviation analytics are useful.

Market Drivers

The global aviation analytics market is set to grow in the foreseeable future owing to many factors. A few factors are –

Increasing Adoption in the Airline Industry – Airlines collect and analyze route distances, aircraft type and weight, weather and altitudes, fuel consumption estimates, and many other flight data, using AI systems. The airline industry has witnessed a reduction in costs in areas like fuel usage and baggage loss etc. after using airport analytics. This boosts the demand for aviation analytics.

Growing Air Travelers Globally – The demand for aviation analytics equipment has witnessed rapid growth along with the growing passenger preference for air traveling. The global air passenger traffic is projected to cross 8.2 billion by 2037, according to the International Air Transport Association's (IATA) latest forecasts. The airlines will need analytical tools to enhance customer experience.

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Challenges

Aviation analytics equipment requires skilled specialists to operate because a huge volume of data is generated through these systems. Skilled professionals need to possess both technical as well as analytical skills to access and examine the gathered data. The industry lacks skilled professionals, which hinders the growth of the global aviation analytics market.

Opportunities

AI-based analytics in the aviation sector is usually time-consuming. Artificial intelligence (AI) is used to extract insights and patterns from a huge set of data, which is then employed to make estimates. Owing to the improved user interface, AI is being used to simplify the data analysis process. The incorporation of AI into data analytics can act as a huge opportunity for the aviation analytics industry.

Segment Analysis

By Application Type

"Customer analytics subsegment is estimated to register the fastest growth during the forecast period"

The aviation analytic market is segmented as fuel management, flight risk management, revenue management, customer analytics, navigation services, inventory management, and others. The customer analytics subsegment is estimated to register the fastest growth during the forecast period.  

By Business Function Type

"Finance sub-segment leads the market and is expected to maintain its dominance during the forecast period"

The market is segmented into finance, operations, supply chain, maintenance & repair, sales & marketing, and others. The finance sub-segment leads the aviation analytic market and is expected to maintain its dominance during the forecast period. However, the sales & marketing segment is estimated to depict the highest growth in the coming five years.

By End-User Type

"Airline sub-segment is expected to portray the highest growth during the forecast period"

The market is segmented into airlines, airports, and others. The airline sub-segment is expected to portray the highest growth during the forecast period. The growth is because, with the support of big data mining and architecture, the airline companies can arrive at an in-depth competitive analysis, which helps the aviation analytic market to develop business models, such as safety & security risk modeling, engineering & maintenance optimization, demand modeling & forecasting among others.   

By Region

"APAC region is estimated to witness the highest growth in the market, during the forecast period"

In terms of regions, the APAC region is estimated to witness the highest growth in the global aviation analytics market, during the forecast period. The region has been witnessing robust growth in the aviation analytic market over the past few years, chiefly driven by improvement in functional efficiency, rising consumer expectations, and the mounting pressure of reducing costs across regions. This growth can also be attributed to the growing middle-class population coupled with an upsurge in trade and tourism in emerging countries, such as India and China. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.  

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Key Players

The following are the key players in the Aviation Analytics Market (arranged alphabetically)

• Airport Analytics (AA+)
• Aviation Analytics Ltd.
• Booz Allen Hamilton
• General Electric Company
• IBM Corporation
• MU -Sigma
• Mercator Limited
• Oracle Corporation
• SAP SE
• SAS Institute

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides market intelligence most totally. 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?

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 with industry experts to obtain both qualitative and quantitative insights.

Customization Option

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 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the application types by end-user type.  

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 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.