Dublin, Oct. 10, 2022 (GLOBE NEWSWIRE) -- The "Global Aviation Analytics Market by Component (Services, Solutions) Deployment (On-premise, Cloud), Application, End-user (MROs, Airlines, Airports, OEMs), Business Function, and Region (North America, Europe, APAC, RoW) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The aviation analytics market is projected to grow from USD 2.5 billion in 2022 to USD 4.7 billion by 2027, at a CAGR of 13.0% from 2022 to 2027. Aviation analytics is an evolving technology, which is increasingly being used to arrive at actionable insights for various business functions. The aviation analytics market is highly competitive, with many existing analytical solution providers and increasing niche players who have a significant regional reach.
The mobility & functionality segment of the aviation analytics market is expected to grow at the highest CAGR during forecast period.
The growing need to modernize aircraft fleet and airport operations in order to improve flight safety is a major factor driving the demand for aviation analytics in flight risk management.
Based on end user, the airport segment is projected to lead the aviation analytics market across the forecast period
Growing preferences for air travel and demand for passenger convenience and safety are driving the demand for aviation analytics solutions in airports. Sales and marketing, inventory management, customer experience, and wealth management are some of the major functions of aviation analytics solutions deployed in airports. Airports are segmented into three categories, small, medium, and large airports.
The North American region is estimated to account for the largest share of the aviation analytics market in 2022
The adoption of aviation analytics solutions is higher in North America as compared to other regions. This is mainly because of the presence of various developed economies such as Canada and the US. The region also has been benefiting from low oil prices, improved efficiency in aircraft operations, and a steady labor market over the years.
Reasons to Buy this Report
This report is expected to help market leaders/new entrants by providing them the closest approximations of the revenue numbers for the overall aviation analytics market and its segments. This study is also expected to provide region-wise information about the applications wherein aviation analytics solutions are used.
It also aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the aviation analytics market
Market Dynamics
Drivers
- Advancement in Cloud-Based IT Solutions for Data Collection
- Demand for Optimized Business Operations Through Application of Structured Analytical Solutions
- Growing Emphasis on Identifying New Market Opportunities by Analyzing Customer Behavior and Preferences
- Reduced Maintenance Costs and Downtime by Employing Predictive Analytics
Restraints
- Lack of Appropriate Analytical Skills
Opportunities
- Cloud-Based Real-Time Data Collection and Analytics
- Incorporation of AI-Based Analytics Solutions for Critical Functions in the Aviation Industry
Challenges
- Requirement for Diverse Data Models
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Aviation Analytics Market, by Component
8 Aviation Analytics Market, by Deployment
9 Aviation Analytics Market, by Business Function
10 Aviation Analytics Market, by Application
11 Aviation Analytics Market, by End-user
12 Regional Analysis
13 Competitive Landscape
14 Company Profiles
15 Appendix
Companies Mentioned
- Aeroficial Intelligence
- Atheer Air
- Aviation Intelligence
- Beep Analytics
- Booz Allen Hamilton
- Capgemini
- General Electric
- Graymatter Software Services
- Hexaware Technologies
- Honeywell International
- IBM Corporation
- Ibs Software Services
- Ifs Ab
- Innodatatics Inc.
- Lufthansa Technik
- Mercator
- Mu Sigma
- Oracle Corporation
- Ramco Systems
- Sap Se
- Sas Institute
- Sita
- Swiss Aviation Software
- Winair
- Zestiot
For more information about this report visit https://www.researchandmarkets.com/r/mpwc0l
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