Market Overview:
Connected Aircraft Market Size was valued at USD 1.1 billion in 2022. The Connected Aircraft market is projected to grow from USD 1.28 Billion in 2023 to USD 4.31 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.26% during the forecast period (2023 - 2032).
Modern aircraft are integrated with data-centric architecture to capture real-time information from take-off to landing, which assists in improving the safety and efficiency of the aircraft. Data sharing with other aircraft and ground-based operational teams also help improve efficiency and ensure safety during emergencies. The high demand for onboard infotainment services and live telecast of news and sports events for entertainment purposes is expected to bolster the growth of the global connected aircraft market growth analysis.
Key players:
The key players in the global connected aircraft market analysis are Airbus SAS (France), BAE Systems PLC (UK), Cobham PLC (UK), Gogo Inc. (US), Honeywell International Inc. (US), Inmarsat PLC (UK), Panasonic Avionics Corporation (US), ST AG (Austria), SITA (Switzerland), Thales Group (France), Apple Aviation (UK), Global Eagle Entertainment Inc. (US), IBM Corporation (US), and Viasat Inc. (US).
Market Segmentation:
The global connected aircraft market analysis has also been segmented by type, aircraft type, connectivity, application, frequency band, and region.
Based on type, the market has been divided into systems and solutions. The solutions segment dominated the market with a valuation of USD 2,649.6 million in 2018 and is expected to reach USD 6,479.1 million by 2024. The systems segment is projected to exhibit a higher CAGR of 17.09% during the forecast period.
On the basis of aircraft type, the global connected aircraft market analysis has been classified as fixed-wing and rotary-wing. The fixed-wing segment was larger, valued at USD 523.3 million in 2018; it is projected to reach USD 6,302.1 million by 2024. The rotary-wing segment is expected to register a higher CAGR of 17.57% during the forecast period.
By connectivity, the market has been categorized as in-flight, air-to-ground, and aircraft-to-aircraft. The air-to-ground segment dominated the market with a valuation of USD 2,212.2 million in 2018 and is expected to reach USD 5,240.1 million by 2024. The in-flight segment is projected to be the fastest-growing at a CAGR of 17.86% during the forecast period.
Based on the frequency band, the market has been divided into Ka-Band, Ku-Band, and L-Band. The Ku-band segment was the largest at USD 2,461.0 million in 2018; it is projected to reach USD 6,324.3 million by 2024. The segment is also expected to register the highest CAGR of 17.04% during the forecast period.
Regional Analysis:
The geographic analysis of the global connected aircraft market industry analysis includes North America, Europe, Asia-Pacific, the Middle East Africa, and Latin America.
North America was the largest market, with a valuation of USD 1,725.7 million in 2018. The US and Canada are the country-level markets in North America. The regional market value is expected to reach USD 4,079.5 million by 2024 at a 15.42% CAGR during the forecast period. This growth can be attributed to large-scale investments by airport authorities and airline operators in infrastructure development and expanding aircraft fleet, which are expected to foster the regional market growth. Moreover, the growing adoption of technology by various companies operating in the aerospace industry for improving operational efficiency and offering enhanced services to customers are expected to propel the connected aircraft market analysis growth in North America.
Europe accounted for the second-largest market share in 2018. The European market includes the UK, Germany, France, Italy, and the rest of Europe. The presence of prominent aircraft OEMs, such as Airbus SAS, is driving the growth of the European market. The European connected aircraft market analysis is growing at a steady pace with the increase in the number of new aircraft deliveries. In addition, in-flight connectivity service providers have been investing heavily in RD to create enhanced network solutions. The European connected aircraft market analysis is expected to reach USD 2,729.4 million by 2024 at a CAGR of 16.33% during the forecast period.
Asia-Pacific was the third-largest market in 2018. The market includes China, India, Japan, South-East Asia, and the rest of Asia-Pacific. The regional market was valued at USD 555.7 million in 2018 and is expected to reach USD 1,638.4 million by 2024 at the highest CAGR of 19.75% during the forecast period. In Asia-Pacific, market growth is significantly driven by the increasing number of airlines operating on international routes, which is expected to create lucrative opportunities for market players during the review period. Furthermore, the growing air passenger traffic in emerging economies, such as China and India, is propelling the growth of the global connected aircraft market analysis in Asia-Pacific.
The connected aircraft market analysis in the Middle East Africa is expected to reach a valuation of USD 924.6 million by 2024 at a CAGR of 16.48% during the review period. The market includes Saudi Arabia, the UAE, and the rest of the Middle East Africa. As the Middle East is located at the crossroads of Asia, Africa, and Europe, local airlines led by The Emirates Group, Qatar Airways, and Etihad Airlines are well-positioned to compete for the global air traffic. Due to the rapid increase in the number of aircraft in the region, it is expected that there would be a significant and simultaneous impact on market growth.
The connected aircraft market analysis in Latin America is expected to reach a valuation of USD 299.8 million by 2024 at a CAGR of 13.85% during the review period. The increase in air passenger traffic in countries such as Colombia and Brazil is propelling the regional market growth.
Key Developments
In February 2018, Thales Group signed a contract with Garuda Indonesia to equip the airline’s 14 A330neo aircraft with the AVANT IFE system.
In November 2017, Thales Group signed a contract with The Emirates Group to equip its Boeing 777X fleet with next-generation broadband in-flight connectivity using the Inmarsat GX global network, starting in 2020.
Related Report:
Military Jammer Market Research Report: by Type (Radar Jamming (Mechanical Jamming [Chaffs, Decoys, Corner Reflectors and Others], Electronic Jamming [Spot, Sweep, Barrage, DRFM, Pulse and Others], Inadvertent), Communication Jamming), Deployment Type (Ground-based, Naval and Airborne), Technology (GaN [Gallium Nitride] and GaAs [Gallium Arsenide]), Application (Counter-IED, Bomb Disposal, Military Convoy Protection, Anti-Riot Law Enforcement) and Region (North America, Europe, Asia-Pacific, Middle East and Africa and Latin America)
Target Drones Market Research Report: Information by Engine Type (Internal Combustion Engine, Jet Engine, and Others), Target Type (Full-Scaled, Sub-Scaled, Free Flying, Towing, and Sporting), End Use (Defense, Homeland Security, and Commercial), Platform (Aerial Targets, Ground Targets, Underwater Targets, and Sea Surface Targets), Region (North America, Europe, Asia-Pacific, Middle East Africa, and South America) - Forecast till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that prides itself on its services, offering comprehensive and accurate analysis with respect to various markets and consumers worldwide. Market Research Future has the distinguished goal of providing customers with optimal quality research and granular research. Our market research by products, services, technologies, applications, end users, and market players for global, regional, and national market segments, allows our customers to see more, learn more, and do more, helping to answer your most important questions
Contact:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor, New York, New York 10013,
United States of America
+1 646 845 9312
