Pune, India, Feb. 14, 2022 (GLOBE NEWSWIRE) -- The global 5G in aviation market size reached USD 0.35 billion in 2020. The market value is estimated to increase from USD 0.54 billion in 2021 to USD 9.92 billion in 2028 at a CAGR of 47.03% in 2021-2028. This information is published by Fortune Business Insights™, in its report, titled, “5G in Aviation Market Share, Size & COVID-19 Impact Analysis, By Platform (5G Airport and 5G Aircraft), Technology (FWA, URLLC/MMTC, and eMBB), Communication Infrastructure (Small Cell, Radio Access Network (RAN), and Distributed Antenna Systems (DAS)), 5G Services (Airport Operations, and Aircraft Operations), and Regional Forecast, 2021-2028.”
As per our analysts, increasing the aviation practical possibility of the Internet of Things (IoT) coupled with Augmented Reality (AR) and Virtual Reality (VR) notions is the core objective of 5G technology. This technology has remarkable latent to incorporate digital technology with various singular operators, therefore driving the 5G in aviation market growth.
5G technology in the aviation industry is at a blossoming stage. Nevertheless, implementing the 5G technology amid the aviation industry and its employment is well-pronounced by the industry owing to its characteristics such as ultra-high dependability and low expectancy with the technological engagement in digital aviation. This is expected to bolster the market growth and demand during the forecast period of 2021-2028.
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List of Key Players Covered in this 5G in Aviation Market:
- AeroMobile Communications Limited (U.K.)
- Cisco Systems Inc. (The U.S.)
- Telefonaktiebolaget LM Ericsson (Sweden)
- ANUVU Inc. (Global Eagle Entertainment Inc.) (U.S.)
- Gogo LLC (U.S.)
- Huawei Technologies Co., Ltd. (China)
- Inseego Corp. (U.S.)
- Intelsat Corporation (U.S.)
- Nokia Corporation (Finland)
- OneWeb Ltd (U.K.)
- Panasonic Avionics Corporation (U.S.)
- SmartSky Networks LLC (U.S.)
Global Travel Restraint & Decreased Aircraft Transport amid COVID-19 to Critically Affect Aviation Industry
The aviation industry in 2020 has been one of the most adversely impacted industries amid the ongoing COVID-19 pandemic. The prominent factors such as global travel restrictions and reduced aircraft deliveries are responsible for the harshly decline in the market growth. The market players and the service providers in the aviation industry emphasize new technologies adopted for the reinvigoration of the sector, such as 5G in the Aviation Market.
According to General Aviation Manufacturers Association (GAMA), the producers have observed a decline in aircraft demand and postponements in supplies. For instance, Airbus S.A.S. transported 566 aircraft supplies in 2020 in comparison with that of 863 in the year 2019, while The Boeing Company transported about 157 aircraft in 2020 as compared to that of 380 in 2019.
The International Civil Aviation Organization (ICAO) report 2020 suggests a 60% reduction in the overall air passengers (2.69 billion) compared to 4.49 billion in 2019 with the loss of approx. USD 371 billion to the airlines.
Further Findings
- The 5G airport segment holds the maximum market share. The growth of this section is anticipated to rise owing to the rising demand for improved Wi-Fi connectivity for customers.
- North America held a maximum 5G in aviation market share and is projected to dominate the market during the forecast period owing to the development happening in the aviation industry.
Global Eagle Reinvents Inflight Entertainment with Iris
Global Eagle, the foremost supplier of high-speed connection and entertaining solutions for demanding global movement markets, presents Iris, which is a cost-effective inflight entertainment (IFE) payment service for airlines. Iris is currently utilized by over 20 of global major clients of Global Eagle, with majority of the client airlines of the company adapting to this medium by mid of 2021.
Iris provides an extensive variety of finest content, comprising tailored buyer solution services in order to sustain airline costs and traveller experiences, while sufficing the expectations of the passenger for high-quality IFE as come back to air travel. The service balances the content offering of Global Eagle for the principal airline brands in the globe, leveraging the global scale of the company, in-house content circulation, and technology investments in digital infrastructure and cloud calculating.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/5g-in-aviation-market-101778
Increasing Demand for 5G in Aviation Industry is Propelling Market Growth
Various influences such as escalation in demand for 5G infrastructure for aircraft flying tasks, numerous executions of 5G technology, such as high-speed data streaming and real-time fitness surveillance are anticipated to be few of the popular market growth factors.
Increasing demand for high-speed internet connection for airplane communication & interaction is also estimated to drive the market growth. The 5G technology in aviation is applied for aircraft protection and safety intentions at the airport. It can also utilize vocal communication, speedy internet connectivity at airports and air traffic control (ATC) towers, and air movement administration. The presentation of the 5G connection for the next-gen air movement system is assessed to bolster the demand for 5G in aviation industry.
Additionally, surging demand for augmented flight experience and high-speed internet connectivity throughout the aircraft trip is anticipated to impel the growth of the 5G services market in aircraft applications.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- List of Battery Producers in Marine Sector
- Quantitative Insights-Impact of COVID-19 Pandemic on Global 5G in Aviation Market
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- Impact of COVID-19 Pandemic on Global 5G in Aviation Market
- Steps Taken by Industry/Companies/Government to Overcome the Impact
- Key Development in the industry in Response to COVID-19 Pandemic
- Potential Opportunities due to COVID-19 Outbreak
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TOC Continued...!
Key Industry Development:
October 2020: Nokia and Honeywell Corporation stood nominated as a part of an industry-government association of FACT (Future All Aviation CNS Technology) Project that is a dedicated R&D course under the European Union SESAR (Single European Sky ATM Research) 2020 Program.
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