The global aviation analytics market size is expected to reach USD 6.92 billion by 2030, according to a new study by Polaris Market Research. The report “Aviation Analytics Market Share, Size, Trends, Industry Analysis Report, By Component (Services, Solutions); By Deployment (On-premise, Cloud); By Business Function; By Application; By End-Use; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The growing demand for aviation analytics in the airline industry is due to increasing need for data management, cyber security risks, and need for process optimization and energy. Moreover, the rise in technological advancements with the increasing demand for cloud computing solutions has created lucrative opportunities to develop mobile applications associated with big data in the aeronautics industry, such as a history of passengers, baggage fees, and onboard food and services, which drives the market growth.
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In addition, the huge amount of data generated owing to the rising air travel across developing and developed economies spur market growth. This technology, incorporated with artificial intelligence, analyses flight data and fuel required for flight and route distance which is increasing the adoption of analytics in the airline industry and boosting the market growth.
The covid -19 has negatively impacted the market as air travel was standstill owing to the stringent government norms and global lockdown. This decline in airport traffic has resulted in financial losses in the airline industry, which ultimately haltered the revenue of the market.
Aviation Analytics Market Report Highlights
Polaris Market Research has segmented the aviation analytics market report based on component, deployment, business function, application, end-use, and region:
Aviation Analytics, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Aviation Analytics, Deployment Outlook (Revenue - USD Billion, 2018 - 2030)
Aviation Analytics, Business Function Outlook (Revenue - USD Billion, 2018 - 2030)
Aviation Analytics, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Aviation Analytics, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Aviation Analytics, Regional Outlook (Revenue - USD Billion, 2018 - 2030)