Aviation Analytics Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Component (Services, Solutions), By Deployment (Cloud, On-premise), By Business Function (Finance, Operations, Maintenance and Repair, Sales and Marketing, Supply Chain, Others), By Application (Flight Risk Management, Fuel Management, Rout Management, Fleet Management, Inventory Management, Wealth Management, Performance Monitoring, Inspection, Predictive Analysis, Part Replacement, Supply Chain Planning, Energy Management, Emergency Management, Mobility and Functionality, Customer Analytics, Others), By End User (Original Equipment Manufacturers, Airlines, Airports, Maintenance Repair and Overhaul), By Region, Competition

The global aviation analytics market is predicted to proliferate during the forecast period due to the growing adoption of data analytics by the enterprises to manage massive amount of data from a variety of sources, such as flight operations, passenger records, and aircraft maintenance. The use of cloud-based solutions to improve business continuity is a significant factor in the market's expansion. In addition, the growing demand for air travel and increasing focus on customer experience are propelling the growth of aviation analytics in the global market. Furthermore, businesses are adopting aviation analytics to lower the cost expenditure, increase their efficiency and improving the passenger experience by providing airlines with insights into passenger preferences and needs that are attributed to the growth of global aviation analytics market in the forecast period.

Aviation analytics is a computational mechanism that utilizes the data and information for examining the effectiveness and wellbeing of aeronautical business. It assists organizations in collecting, investigating, and interpreting information from different sources while providing information on historical airport operational data, real-time flight analysis, weather forecasts, and flight data. Aviation analytics is a powerful tool that can be used to improve the safety, efficiency, and customer experience of the aviation industry. In addition, these analytics can be used to improve a variety of aspects of the aviation industry, such as aircraft maintenance, airport operations, flight operations and passenger experience. As the aviation industry continues to evolve, aviation analytics will play an increasingly significant role in ensuring the safety and efficiency of air travel. Major advantages such as mitigation of risk to prevent the mishappenings, cost reduction, improvement in the efficiency of aviation, optimization of flight schedules, effective traffic flow management are enabling the end users to rely on aviation analytics. Moreover, airlines are using analytics to predict the demand for flights and avoid overbooking flights. Manufacturers are adopting this software as an effective solution to design the aircraft safer and more efficient. As the service providers are continuously advancing the analytical software, it is further allowing enterprises to incorporate cutting-edge technologies including artificial intelligence (AI) into the operations to management business more efficiently. This will create new opportunities for companies that develop and manufacture new designs, and focus on improving customer experience, adhering to regulatory requirements, and increase efficiency in the upcoming years.

The Growing Adoption of Data Analytics in the Aviation industry

The aviation industry has been showcasing technological adoption and advancements for so many years. With the advent of digitalization, airports and airlines are utilizing big data and analytics to manage available information for improving their products, services and sustain smart decision-making. Every day the aviation industry, specifically airlines generate large amounts of data from a variety of sources such as passenger data, flight data, weather data, etc. These data can be helpful for understanding the aspects of flight operations and aircraft maintenance by identifying & mitigating risk, optimizing flight schedules, reducing delays, identifying potential problems, predicting failures and regular scheduling maintenance. The data analytics-based solution is so adaptable that representatives can access passenger's information in real time and improve planning and strategically align decision making. Additionally, the solutions remove the requirement for agents or representatives to be present in offices round-the-clock. For instance, customers are using these solutions in airlines to identify weather patterns that are likely to cause delays, which are helpful to adjust the flight schedules accordingly. Moreover, these analytics solution in the airlines have the potential to identify the risk associated with mechanical issues and unplanned maintenance. Therefore, as the steps to prevent these risks are increasing, more and more analytics solutions are being adopted to enhance the airlines and airport industry. Additionally, new data analytics technologies are being fostered that can help airlines, airports, and aircraft manufacturers to pursue better choices with their information. Due to this, businesses are having the advantages to make long-term investments in advancing the analytics for more effectively enhancing the information. As a result, the demand for aviation analytics is expected to rise significantly over the forecast period due to all these factors. Therefore, the growing adoption of data analytics in the aviation industry is expected to contribute to the global aviation analytics market in the forecast period.

The Rising Focus on Customer Experience is Contributing to the Market Growth

The rising focus on customer experience is one of the key factors driving the growth of the global aviation analytics market. Businesses are increasingly seeking to automate their customer service operations to improve efficiency, reduce costs, and provide a better customer experience. Automated client services can help businesses to improve the efficiency of their customer service operations by freeing up agents to focus on more complex issues. To create long-term value for the business, executives in charge of customer service are required to maintain closer ties with customers enabling in the reduction in congestion at airports. In addition, enterprises are required to concentrate on preserving their present audience if they want to ensure brand loyalty. Enhancing the travel experience in the process can aid in improving the customer experience by providing customers with 24/7 access to support and reducing the time it requires to resolve issues. Due to this, enterprises are integrating automated client services to cut down on the time spent while answering typical customer inquiries and instead utilizing that time to address more complicated issues and interaction with new customers. For instance, artificial intelligence (AI)-powered chatbots and social media management systems are increasing in demand to resolve customer issues rapidly. Chatbots can be used to answer frequently asked questions, and self-service portals can be used to allow customers to resolve their own issues without having to speak to a live agent. Thus, rising focus on customer experience is proliferating the growth of global aviation analytics market in the forecast period.

The Increasing Demand for Flights or Air Travel boosting Aviation Analytics

The increasing disposable income of the population in the developing world has increased the demand for flights. The increasing population has increased the burden on train and road travel, which cannot meet the rising demands. The aviation industry is filling the demand-supply gap. The increasing number of airlines in the industry offers customers wider choices and better prices. Furthermore, the increasing infrastructural spending by the government to build an airport of international standing is attracting foreign airlines to expand their operations. The increasing infrastructural spending is facilitated by rising fiscal funding to revive the tourism department, which will drive the global aviation market. The increasing demand, supply and capital spending in the aviation industry has created chaos, given the sudden rise in the volume of passengers, aircraft, low air traffic controllers and other personnel. Due to the shortage of equipment and labor, the lack of maintenance has increased air accidents. Therefore, the aviation industry is resorting to aviation analytics to optimize its operations to ensure passenger and crew safety, aircraft safety, and enhanced service offerings. Therefore, the demand for flights or air travel is increasing rapidly and is contributing to the growth of global aviation analytics market in the forecast period.

Recent Developments

On March 30, 2023: Cirium Ltd., an aviation analytics company recently unveiled its newest advanced bookings technology tool based on satellite-based flight tracking. With the release of new tools, businesses can identify areas of aircraft demand where airlines are expanding and decreasing their network in order to account for development opportunities and risks in decision-making.

On April 06, 2023: Spire Global Inc., a space-based data, space services and analytics company announced the long-term agreement with Switzerland-based ch-aviation. The company’s long-term agreement will further enable ch-aviation to provide the best solutions for global aircraft fleet and airline operational performance insights that will enhance its airline intelligence database. The agreement incorporates admittance to Spire’s daily Flight Report, which totals hundreds of millions of satellites and earthbound ADS-B positions to give actionable flight, aircraft, and airline metadata.

On June 29, 2022: LexisNexis Legal & Professional, leading providers of legal, regulatory, and business information and analytics solutions announced the launch of flight status data tracking using chainlink node. The new launch enables smart contract innovation and supports the growing adoption of blockchain-based specialty insurance solutions for commercial aviation. With the smart contracts-based parametric insurance products, the aviation industry can simplify and eliminate the non-essential expenditure on contracts, invoicing and many more.

Market Segmentation

Based on component, the market is segmented into services, solutions. Based on deployment, the market is further divided into cloud, on-premises. Based on business function, the market is further divided into finance, operations, maintenance and repair, sales and marketing, supply chain, and others. Based on application, the market is further divided into flight risk management, fuel management, rout management, fleet management, inventory management, wealth management, performance monitoring, inspection, predictive analysis, part replacement, supply chain planning, energy management, emergency management, mobility and functionality, customer analytics, others. Based on end user, the market is segmented into original equipment manufacturers, airlines, airports, maintenance repair and overhaul.

Company Profiles

International Business Machine Corporation (IBM), General Electric Company, Honeywell International, IGT Solutions Pvt. Ltd., OAG Aviation Worldwide Limited, Oracle Corporation, Ramco Systems Limited, SAP SE, SAS Institute Inc., Accelya Group (Vista Equity Partners) are among the major players that are driving the growth of the global aviation analytics market.

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Report Scope:

In this report, the global aviation analytics market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Aviation Analytics Market, By Component:
• Services
• Solutions
• Aviation Analytics Market, By Deployment:
• Cloud
• On-premises
• Aviation Analytics Market, By Business Function:
• Finance
• Operations
• Maintenance and Repair
• Sales and Marketing
• Supply Chain
• Others
• Aviation Analytics Market, By Application:
• Flight Risk Management
• Fuel Management
• Rout Management
• Fleet Management
• Inventory Management
• Wealth Management
• Performance Monitoring
• Inspection
• Predictive Analysis
• Part Replacement
• Supply Chain Planning
• Energy Management
• Emergency Management
• Mobility and Functionality
• Customer Analytics
• Others
• Aviation Analytics Market, By End User:
• Original Equipment Manufacturers
• Airlines
• Airports
• Maintenance Repair
• Overhaul
• Aviation Analytics Market, By Region:
• Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Spain
• Italy
• Middle East & Africa
• Israel
• Qatar
• Saudi Arabia
• UAE
• South America
• Brazil
• Argentina
• Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global Aviation Analytics market.

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Company Information

• Detailed analysis and profiling of additional market players (up to five).

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