Connected Aircraft Market will exhibit a CAGR of 18.8% and reach 10,101.1 million by 2026, and the market value as per 2018 was USD 2,250.2 million.
Fortune Business Insights™ in a recently published report, titled, “Connected Aircraft Market Size, Share & Industry Analysis, By Type (Systems and Solutions), Connectivity (Inflight, Air to Air, and Air to Ground Connectivity), Application (Commercial and Military), Frequency Band (Ka-Band, Ku-Band, and L-Band) and Regional Forecasts, 2018-2026.”
Connected Aircraft Market Drivers and Restraint :
The connectivity offered by (IoT) in industrial application for machine control & production through satellites is projected to boost the market during the forecast period. Industrial applications for IoT based devices are exchanging real time data to the processing units, that help to enhance the machine control and production operation in the manufacturing industry. IoT devices use satellite connectivity to transmit & exchange real time data between the IoT systems and components in the manufacturing process. Earlier, data exchange between the machine control & production was dependent on terrestrial GSM networks, which is now getting replaced by the satellite connectivity. Satellite technology proves as a key enabler to transform IoT connectivity across manufacturing industries and process automation.
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List of Significant Manufacturers Connected Aircraft Market are:
- Global Eagle Entertainment
- BAE Systems
- Panasonic Avionics
- Zodiac Aerospace
- Collins Aerospace
- Thales Group
- Honeywell International
Growing Preference for Digitization of Processes to Energize the Market
- One of the leading connected aircraft market trends is the rapid adoption of digital technologies in the aviation industry. Airlines are aggressively digitizing their services and processes to make fleet management more efficient and economical. For instance, digitization has allowed airliners to provide ground control systems real-time data, enabling them to better monitor aircraft health. Furthermore, predictive analytics have streamlined maintenance schedules for aircraft carriers. Lastly, the greatest beneficiaries of digitization are the passengers who now have access to in-flight internet and other modes of entertainment, enhancing their overall in-flight experience. Besides this, digitization can also aid in monitoring threats through real-time data collection and analysis, empowering government agencies to take preventive action.
Browse Complete Summary of research Report: https://www.fortunebusinessinsights.com/industry-reports/connected-aircraft-market-101954
Robust Aviation Industry to Drive the Market in North America
The market size in North America was at USD 969.1 million in 2018 and the region is expected to dominate the connected aircraft market share in the forthcoming years. The main factors for its dominance include a robust aviation industry, rising number of aircraft deliveries, and presence of aviation giants such as Boeing and Bombardier in the region.
Strategic Collaborations to Usher in a New Wave of Innovation
The connected aircraft market forecast predicts an exciting period for the market as key players enter into strategic partnerships with other competitors and outside organizations. These collaborations are accelerating the rate and intensity of innovations that are reshaping the market dynamics.
Some of the key industry developments in the Connected Aircraft Market Include:
- December 2019: Panasonic Avionics, a leading company in in-flight connectivity and entertainment domain, and Eutelsat Communications signed a partnership contract for Panasonic to deliver Ku-band capacity for EUTELSAT 10B Satellite’s two multi-beam payloads, due for launch in 2022.
- April 2018: Honeywell Aerospace announced that its famed JetWave satellite communications hardware has been installed in 25 business jets operating in Asia-Pacific. The technology allows business travelers to enjoy high-speed Wi-Fi internet in-flight. The company aims to establish its footprint in the rapidly developing Asia-Pacific region through this move.