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
- The growing demand for solution segments in several applications to develop customizable solutions along with real-time data insights is expected to drive product demand.
- The finance segment accounted for the highest revenue share and is expected to continue its dominance as it deals with airport payables, profitability, and assets which require proper financial modeling.
- On-premise type is expected to spearhead revenue growth as it has solo ownership and offers in-house software services with data protection which grows its demand in the market.
- The Asia Pacific is expected to grow over the forecast period on account of several airlines adopting analytics to meet the future demand and an increasing number of travel passengers across developing nations in the region, such as India and China.
- Major players operating in the industry include Atheer, Inc., Aviation Intelligence Ltd, Beep Analytics Aps, Booz Allen Hamilton, Capgemini, Genral Electric, Graymatter Software Services Pvt Ltd, Hexaware Technologies Limited, IBM Corporation, Ins Software, Ifs, Innodatatics Inc, Lufthansa Technik, Mercator, Mu Sigma, Oracle Corporation, Ramco Systems.
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)
- Maintenance & Repair
- Sales & Marketing
- Supply Chain
Aviation Analytics, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Flight Risk Management
- Fuel Management
- Rout Management
- Fleet Management
- Inventory Management
- Wealth Management
- Performance Monitoring
- Predictive Analysis
- Part Replacement
- Supply Chain Planning
- Energy Management
- Emergency Management
- Mobility & Functionality
Aviation Analytics, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Aircraft OEMs
- Engine OEMs
- Small Airlines
- Medium Airlines
- Large Airlines
- Small Airports
- Medium Airports
- Large Airports
- Small MROs
- Medium MROs
- Large MROs
Aviation Analytics, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa