According to the Market Statsville Group (MSG), the global Connected Aircraft Solutions Market size is expected to grow from USD 1,531.6 million in 2021 to USD 11,493.7 million by 2030, at a CAGR of 25.1% from 2022 to 2030.
The market for connected aircraft solutions is expanding due to an increase in the demand for operational efficiency in aircraft, an increase in aircraft deliveries, and the development of new aircraft. The market for connected aircraft solutions has been constrained by concerns about cybersecurity and the backlog in aircraft delivery. The primary drivers for connected aircraft solutions are the focus on lowering maintenance time and the rise in demand for modernizing existing connection systems in aircraft.
The disease has spread to almost every country in the world as a result of the covid-19 outbreak, and the World Health Organization has declared it a public health emergency. The global negative effects of the Covid-19 have significantly impacted the market for connected aircraft solutions. Flight cancellations travel bans and quarantines, restaurants closing, all indoor/outdoor events restricted, over forty countries declaring states of emergency, massive slowing of the supply chain, stock market volatility, growing panic among the population, falling business confidence, and uncertainty about the future have all resulted from the COVID-19 virus outbreak.
New aircraft orders are increasing as air passenger travel increases. Rapid urbanization and rising disposable incomes have increased the demand for air travel even further. As a result, passenger traffic is increasing. Rising aircraft deliveries are expected to fuel the market growth. The primary market driver is expected to be the increased procurement of next-generation aircraft equipped with improved in-flight entertainment and connectivity services, such as real-time weather information, aircraft health monitoring systems, and flight management systems for passengers. TAP Air Portugal, for example, signed an agreement with Panasonic avionics corporation to provide in-flight entertainment and connectivity solutions for the airline's new fleet of 14 A321neo LR aircraft.
The primary drivers of potential for the growth of the connected aircraft solutions market are the focus on lowering maintenance time and the rise in demand for upgrading of existing connectivity systems in airplanes. The growing need for operational efficiency has created a huge demand for more efficient data optimization and data connection systems to replace traditional systems. They include aircraft that have an aircraft interface device (AID) and a wireless electronic flight bag (EFB). Simultaneously, rising passenger demand for high-speed internet connectivity drives airlines to adopt satellite (SATCOM) and broadband connectivity solutions. For instance, Qatar Airways invested in providing a better in-flight experience for their passengers by adopting the Ku-band high-speed connectivity solution, which provides live television on 70 of the airline's planes. The market for connected aircraft solutions has been constrained by concerns about cybersecurity and the backlog in aircraft delivery.
The study categorizes the Connected Aircraft Solutions Market based on type, connectivity, end user, and application at the regional and global levels.
Based on application, the global connected aircraft solutions market is divided into commercial aviation and military aviation. The commercial aircraft segment of the market studied has a larger market share in 2021. The higher share is primarily due to commercial airliners' demand for connected aircraft technology. Inflight connectivity has been a major focus for commercial aviation in recent years, and airlines have begun to adopt these connected aircraft technologies.
Whereas the military segment is expected to grow at the fastest CAGR during the forecast period. Owing to the connected aircraft technology is relatively new for the military, demand from the segment is expected to be higher, as the armed forces of several countries are expected to modernize their aircraft fleets and incorporate these technologies in their aircraft in the coming years.
Based on the regions, the global Connected Aircraft Solutions Market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America currently dominates the connected aircraft market. The increasing number of aircraft orders from the region and the increasing commercial use of connected aircraft technologies are the primary growth drivers for the region's market. Connected aircraft technology is gradually gaining traction in the military, particularly in the United States, where military aircraft modernization and upgrade of existing technologies are prioritized.
The global connected aircraft solutions market is highly competitive, with key industry players adopting strategies such as partnerships, product development, acquisitions, agreements, and expansion to strengthen their market positions. Most companies in the market are indulged in expanding business across regions, enhancing their capabilities, and building strong partner relations.
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