Report Ocean has released a research study titled “Aviation analytics Market .” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.
Aviation analytics market is estimated at approximately USD 1.5 billion in 2019 and is anticipated to grow with a rate of more than 11.50% over the forecast period (2020-2027). Aviation Analytics offers software and services that assist airports to bring together their information so they can be managed in a organize and complete way by airport management. The growing competitiveness in the aviation industry is inspiring companies to install advanced data analytics to hold their market share on the universal platform.
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Data analytics is valuable to aviation companies to attain operational profitability and high sales. Analytical solutions, such as profitability analysis, competitive analytics, forecast analysis, reliability analytics and sales analysis, enabled companies to organize, analyze, store, and retrieve huge amounts of data regarding the markets, along with various marketing and operational tasks. Additionally, companies can keep track of customer behavior and preferences to stay ahead of the race and design their subscriptions based on organized analysis. According to Department for Promotion of Industry and Internal Trade (DPIIT), FDI inflow in India’s air transport sector has reached USD 2.75 billion in the period of April 2000 and March 2020. The government has permitted 100% FDI for the automatic route in regional air transport service, scheduled air transport service, and domestic scheduled passenger airline. Moreover, Aviation industry in India is anticipated to witness USD 4.99 billion investment in by 2024. The Government is proposing to invest USD 1.83 billion for airport infrastructure development as well as aviation navigation services by 2026.Also,according to International Air Transport Association (IATA), approximately 3.8 billion air travellers were recorded in 2016 and it is expected that 7.2 billion passengers would travel in 2035.
Major market player included in this report are:
IBM Corporation (US)
IFS (Sweden)
Ramco Systems (India)
Rusada (Switzerland)
SAP (Germany)
Swiss Aviation Software (Switzerland)
Lufthansa Technik (Germany)
General Electric (US)
Honeywell International (US)
SAP SE
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MARKET OVERVIEW
- Market Overview: The aviation analytics market has experienced substantial growth due to the increasing volume of data generated by airlines, airports, and the aviation industry as a whole. It involves the analysis of this data to derive actionable insights and improve operational efficiency.
- Data-driven Decision Making: Aviation analytics leverages data from various sources like flight operations, maintenance records, passenger information, and weather forecasts. This data-driven approach enables airlines and aviation companies to make informed decisions regarding fleet management, route optimization, and customer service.
- Operational Efficiency Enhancement: By analyzing vast datasets, aviation analytics helps in identifying inefficiencies in operations, such as fuel consumption optimization, crew scheduling improvements, and predictive maintenance, leading to cost reductions and improved performance.
- Enhanced Safety and Maintenance: Predictive analytics in aviation assists in predicting potential failures in aircraft components, thus enabling proactive maintenance. This proactive approach minimizes downtime, enhances safety, and reduces the risk of unexpected technical issues during flights.
- Improving Passenger Experience: Airlines use analytics to understand passenger preferences, behavior patterns, and satisfaction levels. This data aids in personalizing services, offering tailored experiences, and optimizing the overall customer journey.
- Demand Forecasting and Route Optimization: Analytics enables airlines to forecast demand accurately, optimize routes, adjust pricing strategies, and allocate resources efficiently, resulting in better capacity utilization and increased profitability.
- Airport Operations Optimization: For airports, analytics is crucial in streamlining ground operations, managing passenger flow, optimizing baggage handling, and improving overall airport efficiency, leading to enhanced traveler experience and reduced congestion.
- Adoption Challenges: Challenges in the aviation analytics market include data privacy concerns, the complexity of integrating various data sources, cybersecurity risks, and the need for skilled data analysts and data scientists.
- Growth in Emerging Technologies: The market is witnessing advancements in artificial intelligence, machine learning, and big data analytics, further improving the capabilities of aviation analytics tools to handle complex data sets and provide more accurate insights.
- Future Outlook: The aviation analytics market is projected to continue growing as the industry recognizes the immense value of data-driven decision-making. Advancements in analytics tools, coupled with increased focus on safety, operational efficiency, and passenger satisfaction, will drive further innovation and adoption across the aviation sector.
The detailed segments and sub-segment of the market are explained below:
By Component:
Services
Solutions
By Deployment:
On premise
Cloud
By Business Function:
Finance
Operations
Maintenance & Repair
Others
By Application:
Flight Risk Management
Fuel Management
Rout Management
Others
By end-user:
OEMs
Airlines
Airports
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
ROE
APAC
Latin America
Brazil
Mexico
Rest of the World
Table of Contents:
- Executive Summary
- Introduction
- Methodology
- Market Overview
- Market Analysis
- Market Size and Forecast
- Market Trends
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Competitive Scenario
- Key Players
- Regional Analysis
- Regional Market Overview
- Market Size and Forecast by Region
- Product/Service Analysis
- Product/Service Overview
- Market Size and Forecast by Product/Service
- End-User Analysis
- End-User Overview
- Market Size and Forecast by End-User
- Industry Structure
- Key Findings and Recommendations
- Conclusion
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