Aviation analytics is a technology useful in the aviation sector that provides information and data statistics on operation activities, real-time flight data, and weather forecast data, among others. The analytics solution is efficient, easily accessible, and increases profit ratio of the airline companies by reducing physical operation cost. Increasing demand for artificial intelligence and real-time analytical solutions is anticipated to drive the growth of the market during the projected horizon.
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The Global Aviation Analytics Market Size will show promising growth backed by increasing adoption of analytics in aviation industry. According to the International Air Transport Association (IATA), the airlines industry is likely to witness a footfall of about 8.2 billion traveler by 2037.
Fortune Business Insights, publish this information in its latest report, titled “Aviation Analytics Market Size, Share & Industry Analysis, By Component (Service, Software), By Application (Flight Risk Management, Inventory Management, Fuel Management, Revenue Management, Navigation Services), By Business Function (Sales & Marketing, Finance, Repair & Operations, Supply Chain Management), By End-User (Airlines, Airports, Others) Others and Regional Forecast, 2019-2026.”
Key Questions Answered:
- Why Choose Fortune Business Insights?
- What are the key demands and trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
Global Aviation Analytics the Market Top Key Companies As follows:-
- General Electric (U.S.)
- IBM Corporation (U.S.)
- SAP SE (Germany)
- SAS Institute (U.S.)
- Ramco International (India)
- Mu-Sigma (U.S.)
- Mercator (U.S.)
- Aviation Analytics (U.K.)
- Airport Analytics (U.K.)
- Oracle Corporation (U.S.)
- Among others.
Drivers and Restraints:
Rising Focus on Analytics Solutions to Favor Growth
In March 2020, Honeywell International Inc. launched Honeywell Forge, a data-driven analytics platform for the aviation industry. The software is a cost-effective solution for the aviation companies to manage real-time data that includes flight operational activities, navigation database, connectivity, and aircraft maintenance. According to the company, the software is user-friendly that provides dashboard to view instant alerts regarding issues for connectivity and flight schedule changes. Furthermore, it solves several flight related issues that helps to boost operations performance. Rising focus of the companies to provide analytics solutions is expected to contribute to the growth of the market during the projected horizon.
Increasing Adoption of Aviation Analytics to Surge Demand in North America
Among the regions, the market in North America is anticipated to hold the largest share for the market in the forthcoming years. This is ascribable to factors such as increasing adoption of analytics in aviation sector to enhance the operational activities. On the other hand, Asia-Pacific will witness substantial growth for the market during the projected horizon. Factors such as rise in the middle-class population and growing tourism sector in countries such as India and China will contribute to the growth of the market in Asia-Pacific. In Europe, the market is expected to boost owing to steps taken for the management of jet fuel in the forthcoming years. Latin America and the Middle East and Africa will register a promising growth for the market between 2019 and 2026.
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Cirium Launching New Data Analytics Will Aid Growth
The companies operating in the market are adopting several strategies to maintain their market presence during the forecast period. The strategies adopted by them include product launches, merger and acquisition, and collaborations that is expected to drive the aviation analytics market revenue in the forthcoming years. For instance, Cirium, an expert in travel data and analytics, in March 2020, amid the ongoing pandemic, Coronavirus (COVID-19), announced its launch of new analysis service. The analysis offering by the company will provide verified data on the number of in-storage aircrafts on a daily basis. Furthermore, the latest analysis from the company reveals that the in-storage aircraft fleet has grown by 13.5%, with 6,639 aircrafts grounded globally owing to travel restrictions and sealing of borders. Below are a few industrial developments for the market:
- December 2019: L&T Technology Services Limited, a global technology solutions company, signs a contract with Airbus S.A.S., an Indian aviation company. Under this contract, L&T will manage avionics software that provides data validation & verification, and data analytics for the Airbus airlines
- September 2019: Airbus S.A.S, a leading airline company in India, signs a contract with TATA SIA Airlines Limited. This collaboration will enable Airbus to provide maintenance operations, and data analytics for the Vistara airlines.
Segmentation by Geographic:-
- North America (U.S. and Canada)
- Europe (U.K. Germany, France, Russia, and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia Pacific)
- Rest of the Word (South America and Middle East & Africa)
Browse Detailed Summary of Research Report With TOC:
Key Topics Covered In Table Of Content (TOC):-
- Executive Summary
- Market Dynamics
- Key Insights
- Global Aviation Analytics Market Analysis, Insights and Forecast, 2016-2027
- Europe Aviation Analytics Market Analysis, Insights and Forecast, 2016-2027
- Asia Pacific Aviation Analytics Market Analysis, Insights and Forecast, 2016-2027
- Rest of the World Aviation Analytics Market Analysis, Insights and Forecast, 2016-2027
- Competitive Analysis
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