Aviation Internet of Things Market to Grow with a CAGR of 23.7% Globally through to 2028
Global Aviation Internet of Things (IoT) Market is rising due to its
ability to enhance operational efficiency, safety, and passenger experience in
aviation through connected devices and data-driven insights in the forecast
period 2024-2028.
According to TechSci Research report, “Global Aviation
Internet of Things Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, Global Aviation Internet of Things
Market has valued at USD 6.5 Billion in 2022 and is anticipated to project
robust growth in the forecast period with a CAGR of 23.7% through 2028. The
Global Aviation Internet of Things (IoT) market is witnessing remarkable growth
as the aviation industry increasingly embraces the transformative power of IoT
technologies. IoT in aviation involves the interconnectedness of aircraft,
ground facilities, and systems through sensors, devices, and data analytics.
This connectivity revolutionizes various aspects of aviation operations.
Airlines are utilizing IoT to monitor and maintain aircraft components in
real-time, thereby enhancing maintenance efficiency and safety. In-flight
services and passenger experiences are also being elevated with IoT-enabled
amenities, such as Wi-Fi connectivity and personalized services. Furthermore,
airports are adopting IoT for baggage tracking, crowd management, and security
enhancements. This connectivity not only streamlines airport operations but
also improves overall passenger satisfaction. Additionally, IoT plays a pivotal
role in air traffic management, optimizing routes and reducing delays. As
aviation strives for greater efficiency, safety, and sustainability, the
adoption of IoT continues to expand, making it a key driver of innovation and
competitiveness in the global aviation industry. The future of aviation is
increasingly intertwined with the Internet of Things, promising enhanced
experiences for passengers and operational excellence for aviation stakeholders.
Browse over 26 market data Figures spread
through 91 Pages and an in-depth TOC on "Global Aviation Internet of Things Market”.
The Global Aviation Internet of Things (IoT) market
has witnessed significant growth in recent years, driven by the increasing
adoption of IoT technologies in the aviation industry. IoT refers to the
network of interconnected devices that collect and exchange data through the
internet. In the aviation sector, IoT has revolutionized various aspects of
operations, including aircraft maintenance, passenger experience, and safety
management. One of the key factors driving the growth of the aviation IoT
market is the need for efficient aircraft maintenance. IoT-enabled sensors and
devices installed on aircraft can monitor various parameters in real-time, such
as engine performance, fuel consumption, and structural integrity. This data is
then transmitted to ground-based maintenance teams, enabling them to
proactively identify and address potential issues before they escalate. By
leveraging IoT technologies, airlines can reduce maintenance costs, minimize
aircraft downtime, and enhance overall operational efficiency. Furthermore, the
aviation IoT market is also benefiting from the growing focus on enhancing
passenger experience. IoT devices and applications are being deployed to
provide passengers with personalized services and seamless connectivity
throughout their journey. For instance, airlines are using IoT-enabled beacons
and sensors to track passengers' movements within airports, enabling them to
provide real-time updates on gate changes, baggage status, and other relevant
information. Additionally, in-flight entertainment systems are being enhanced
with IoT capabilities, allowing passengers to access a wide range of content
and services through their personal devices.
Safety management is another critical area where IoT
is making a significant impact in the aviation industry. IoT devices can
monitor and analyze data from various sources, including aircraft systems,
weather conditions, and air traffic control. This real-time data analysis
enables airlines and aviation authorities to identify potential safety risks
and take proactive measures to mitigate them. For example, IoT-enabled
predictive maintenance systems can detect anomalies in aircraft systems and
alert maintenance crews to take necessary actions, ensuring the safety of
passengers and crew. The adoption of IoT in the aviation industry is also
driven by the increasing demand for data-driven decision-making. The vast
amount of data generated by IoT devices provides valuable insights that can be
leveraged to optimize operations, improve fuel efficiency, and enhance overall
performance. Airlines can use this data to optimize flight routes, reduce fuel
consumption, and minimize environmental impact. Additionally, IoT data can be
analyzed to identify patterns and trends, enabling airlines to make informed
decisions regarding fleet management, route planning, and resource allocation.
In conclusion, the Global Aviation Internet of Things
market is experiencing significant growth, driven by the increasing adoption of
IoT technologies in the aviation industry. The benefits of IoT in aircraft
maintenance, passenger experience, safety management, and data-driven
decision-making are propelling the market forward. As the aviation industry
continues to embrace digital transformation, the integration of IoT is expected
to play a crucial role in shaping the future of aviation operations.
The Global Aviation Internet of Things Market is
segmented into End-use, Component, Application, regional distribution, and
company.
Based on its End-Use, the airport segment accounted
for a significant revenue share of over 35% in 2022. It is also expected to
emerge as the fastest-growing segment over the forecast period in line with the
growing popularity of the smart airport concept across various regions. IoT can
potentially open opportunities for the incumbents of the aviation industry to
offer solutions for passenger traffic monitoring, baggage handling, and
facilities management, and subsequently improve the overall operational flow
and efficiency of the airport. The partnerships that are materializing between
IoT service providers and airport operators are anticipated to create
significant growth opportunities for the segment over the forecast period. The
airline operators’ segment is anticipated to grow at a significant CAGR over
the forecast period.
The segment is growing steadily as airlines are
focusing on generating ancillary revenues. IoT can play an important role in
providing access to various real-time data to airlines and in improving the
in-flight cabin experience for passengers. The proliferation of smartphones is
driving the demand for in-flight internet connectivity and personalized
entertainment solutions, thereby opening opportunities for airlines to generate
considerable ancillary revenues. The growing adoption of intelligent baggage
monitoring and advanced cabin climate control solutions to enhance the overall
passenger experience is also contributing to the growth of the segment.
Based on region, North America accounted for the
largest revenue share of around 35% in 2022. The established aviation industry
in the U.S. and Canada is allowing the region to be a lucrative market to
implement sophisticated technologies. North America is home to major Original
Equipment Manufacturers (OEM), such as The Boeing Company and Textron Inc., and
hence, it has been an early adopter of advanced technologies. Moreover, the
continued rollout of sophisticated aviation infrastructure in the U.S. to
enhance the passenger experience also bodes well for the growth of the North
America region.
Asia Pacific is estimated to grow at the highest CAGR
of over 25% during the forecast period. The growth can be attributed to the
rising air traffic in the region, increasing investments in smart airport
architecture, and the expansion of airline operations in the region. Developing
countries, such as India, and other Southeast Asian countries have witnessed a
significant rise in domestic air travel due to the emergence of low-cost
airlines. This, in turn, is expected to drive the regional market as airlines
use IoT for safety compliance and enhance passenger experience.
Major companies operating in Global Aviation
Internet of Things Market are:
- Honeywell International, Inc.
- Tata Communication
- Cisco Systems, Inc.
- Huawei Technologies Co. Ltd.
- IBM Corp.
- Aeris Communication
- Microsoft Corp.
- Tech Mahindra Ltd.
- Wind River Systems, Inc.
- SAP SE
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“The Global Aviation Internet of Things (IoT) market
has seen remarkable growth due to the adoption of IoT technologies in the
aviation industry. IoT enables interconnected devices to collect and exchange
data through the internet, revolutionizing aircraft maintenance, passenger
experience, and safety management. Efficient aircraft maintenance is a key
driver, as IoT sensors monitor real-time parameters like engine performance and
fuel consumption, allowing proactive issue identification. This reduces costs,
minimizes downtime, and enhances operational efficiency. Passenger experience
is improved through personalized services and seamless connectivity using IoT
devices, such as beacons and sensors for real-time updates and enhanced
in-flight entertainment systems. Safety management benefits from IoT's
real-time data analysis, identifying risks and enabling proactive measures.
Data-driven decision-making is also facilitated, optimizing operations, fuel
efficiency, and performance. IoT's integration is expected to shape the future
of aviation operations as the industry embraces digital transformation,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Aviation
Internet of Things Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast, Segmented By End-use (Airline Operators, Airport, MRO, Aircraft
OEM), By Component (Hardware, Service, Software), By Application (Aircraft
Operations, Asset Management, Ground Operations, Passenger Experience), By
Region, By Competition”, has evaluated the future growth potential
of Global Aviation Internet of Things Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Aviation Internet of Things Market.
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