Aerospace Artificial Intelligence Market
Aerospace Artificial Intelligence Market Forecasts to 2028 - Global Analysis By Offering (Hardware, Software and Services), Technology (Natural Language Processing, Machine Learning, Context Awareness Computing and Computer Vision), Application (Smart Maintenance, Customer Service and Other Applications) and Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $746.97 MN |
|
Projected Year Value (2028) |
US $5970.38 MN |
|
CAGR (2022 - 2028) |
41.4% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Aerospace Artificial Intelligence Market is accounted for $746.97 million in 2022 and is expected to reach $5970.38 million by 2028 growing at a CAGR of 41.4% during the forecast period. For the aerospace sector, artificial intelligence (AI) has a great deal of potential. AI implementation in the aerospace industry may enable aircraft manufacturers to reorganise the production of various components and reduce a number of airport safety concerns.
According to GlobalData’s Technology Foresights, which plots the S-curve for the aerospace and defence industry using innovation intensity models built on over 262,000 patents, there are 180+ innovation areas that will shape the future of the industry.
Market Dynamics:
Driver:
Increasing Fuel Efficiency using Artificial Intelligence
Fuel used by aircraft annually equates to billions of gallons. Due to the COVID-19 pandemic, fuel consumption drastically decreased in 2020; however, as air traffic increases, consumption is anticipated to rise over time. Many businesses are already using 3D printing technology to make lightweight components in an attempt to reduce costs brought on by the rise in fuel consumption. Additionally, using artificial intelligence, aerospace companies can increase the fuel efficiency of their aircraft. The highest fuel consumption occurs during an aircraft's climb phase. AI designs can help in the analysis of fuel consumption data by generating climb phase profiles for each aircraft model and pilot by monitoring the climb phase of various aircraft and the aircraft operations of various pilots.
Restraint:
High Cost of Adoption of AI
Another aspect that is expected to contribute to the low adoption of AI models in the aerospace industry is their high cost. For instance, to manage customer inquiries, an airline must invest thousands of dollars in the deployment of a chatbot. Small airline companies would find it extremely difficult to invest in AI technologies, creating a barrier to their adoption.
Opportunity:
Rising Use of AI to Ensure Operational Efficiency and Maintenance of Airplanes
Pilots can evaluate air pressure, altitude, and speed owing to the numerous sensors on their aircraft. AI models can help identify odd behaviour in aircraft parts so that computed sensor parameters can be used more efficiently. For instance, the sensors in turbines can gather the necessary data on temperature, air pressure, and rotational speed. AI models can gain knowledge about typical turbine performance using this information. These data are also used by AI models to ascertain the proper operation of turbines and warn concerned staff of potential issues.
Threat:
Stringent Airline Regulations in Aerospace
Although using AI models in the aerospace sector may be very beneficial, there are also particular risks. The aerospace industry is governed by strict laws and regulations. These requirements must be accompanied by those pertaining to airport security, aircraft design, ground operations, and other aspects. Therefore, organisations must create systems that adhere to all international standards if they want to adopt AI in the aerospace industry. The global aerospace industry will need more time to implement AI as a result.
Covid-19 Impact:
Global governments were forced to impose strict lockdowns and impose travel bans for the majority of 2020 as a result of the COVID-19 outbreak. This caused a sharp decline in air travel demand and hindered the global adoption of artificial technology for aerospace applications. Additionally, nationwide lockdowns compelled factories that make aerospace and AI-related parts to halt production entirely or partially. The COVID-19 pandemic's negative effects have caused delays in global activities and initiatives aimed at creating innovative and reliable aerospace artificial intelligence solutions.
The software segment is expected to be the largest during the forecast period
Due to the rise in the use of AI software to aid businesses in manufacturing, predictive maintenance of aircraft, and pilot training, the software segment is predicted to have the largest market share during the forecast period. Artificial intelligence software is a type of computer programme made to mimic human intelligence by analysing a variety of data patterns and insights. The three main components of AI software are the virtual assistant, machine learning, and speech and voice recognition. In order to provide users with the essential usability they need to streamline business operations more effectively, AI and machine learning are used together. A number of aerospace businesses are using AI software to create cutting-edge solutions that streamline and efficiently perform multiple tasks.
The machine learning segment is expected to have the highest CAGR during the forecast period
The machine learning segment is expected to have lucrative growth during the projection period, as it is concerned with creating programmes that improve in accuracy over time without being programmed. It contains algorithms that can build systems by comprehending input and output data. Additionally, airlines collect and analyse flight data for aircraft type and mass, route distances and heights, and weather conditions using AI systems with built-in machine learning algorithms.
Region with largest share:
During the forecast period, the aerospace artificial intelligence market in North America hold the largest revenue share due to the region's rising airport investments in the U.S. and Canada, as well as the adoption of A.I. technologies by airlines. Furthermore, implementation of A.I. technologies in aerospace engineering is also anticipated to increase in the region, owing to major aerospace players like The Boeing Company and AI startups like Sparkcognition. Moreover, integrating A.I. technologies with aerospace systems was first completed in the United States and Canada. However, the aerospace artificial intelligence market is expected to grow as a result of increased company investments and government initiatives to promote the use of AI technologies in the airline industry.
Region with highest CAGR:
Due to an increase in initiatives to promote the adoption of AI in the aerospace and defence sectors, the Europe region is expected to experience the highest CAGR during the forecast period. Furthermore, European countries with developed aerospace industries include the UK, France, Germany, and Russia, which are among the world's most technologically developed countries. Additionally, it is anticipated that the region's widespread adoption of A.I. technologies will cause the global market to grow exponentially.
Key players in the market
Some of the key players in Aerospace Artificial Intelligence market include IRIS Automation Inc., SITA, Airbus S.A.S., Intel Corporation, The Boeing Company, Thales Group, General Electric Company, International Business Machines Corporation, Sparkcognition, Microsoft Corporation, Google LLC, Alibaba Group Holdings Limited, Amazon Web Services, Inc, Baidu Inc, Verizon Communications Inc, Facebook Inc, Twitter Inc and Hulu LLC.
Key Developments:
In May 2022, Microsoft partnered with Volocopter to build an aerospace cloud system. The system will address the nascent cloud computing requirements for electric vertical takeoff and landing aircraft, UAM, and autonomous aviation.
In April 2022, TruWeather Solutions teamed up with Iris Automation for ground-based weather surveillance for uncrewed aircraft. This meshed network will provide operators with real-time integrated communications, collision avoidance, and micro-weather data.
Offerings Covered:
• Hardware
• Software
• Services
Technologies Covered:
• Natural Language Processing
• Machine Learning
• Context Awareness Computing
• Computer Vision
Applications Covered:
• Smart Maintenance
• Customer Service
• Training
• Manufacturing
• Flight Operations
• Virtual Assistants
• Surveillance
• Dynamic Pricing
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Aerospace Artificial Intelligence Market, By Offering
5.1 Introduction
5.2 Hardware
5.3 Software
5.4 Services
6 Global Aerospace Artificial Intelligence Market, By Technology
6.1 Introduction
6.2 Natural Language Processing
6.3 Machine Learning
6.4 Context Awareness Computing
6.5 Computer Vision
7 Global Aerospace Artificial Intelligence Market, By Application
7.1 Introduction
7.2 Smart Maintenance
7.3 Customer Service
7.4 Training
7.5 Manufacturing
7.6 Flight Operations
7.7 Virtual Assistants
7.8 Surveillance
7.9 Dynamic Pricing
7.10 Other Applications
8 Global Aerospace Artificial Intelligence Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 IRIS Automation Inc.
10.2 SITA
10.3 Airbus S.A.S.
10.4 Intel Corporation
10.5 The Boeing Company
10.6 Thales Group
10.7 General Electric Company
10.8 International Business Machines Corporation
10.9 Sparkcognition
10.10 Microsoft Corporation
10.11 Google LLC
10.12 Alibaba Group Holdings Limited
10.13 Amazon Web Services, Inc
10.14 Baidu Inc
10.15 Verizon Communications Inc
10.16 Facebook Inc
10.17 Twitter Inc
10.18 Hulu LLC
List of Tables
1 Global Aerospace Artificial Intelligence Market Outlook, By Region (2020-2028) ($MN)
2 Global Aerospace Artificial Intelligence Market Outlook, By Offering (2020-2028) ($MN)
3 Global Aerospace Artificial Intelligence Market Outlook, By Hardware (2020-2028) ($MN)
4 Global Aerospace Artificial Intelligence Market Outlook, By Software (2020-2028) ($MN)
5 Global Aerospace Artificial Intelligence Market Outlook, By Services (2020-2028) ($MN)
6 Global Aerospace Artificial Intelligence Market Outlook, By Technology (2020-2028) ($MN)
7 Global Aerospace Artificial Intelligence Market Outlook, By Natural Language Processing (2020-2028) ($MN)
8 Global Aerospace Artificial Intelligence Market Outlook, By Machine Learning (2020-2028) ($MN)
9 Global Aerospace Artificial Intelligence Market Outlook, By Context Awareness Computing (2020-2028) ($MN)
10 Global Aerospace Artificial Intelligence Market Outlook, By Computer Vision (2020-2028) ($MN)
11 Global Aerospace Artificial Intelligence Market Outlook, By Application (2020-2028) ($MN)
12 Global Aerospace Artificial Intelligence Market Outlook, By Smart Maintenance (2020-2028) ($MN)
13 Global Aerospace Artificial Intelligence Market Outlook, By Customer Service (2020-2028) ($MN)
14 Global Aerospace Artificial Intelligence Market Outlook, By Training (2020-2028) ($MN)
15 Global Aerospace Artificial Intelligence Market Outlook, By Manufacturing (2020-2028) ($MN)
16 Global Aerospace Artificial Intelligence Market Outlook, By Flight Operations (2020-2028) ($MN)
17 Global Aerospace Artificial Intelligence Market Outlook, By Virtual Assistants (2020-2028) ($MN)
18 Global Aerospace Artificial Intelligence Market Outlook, By Surveillance (2020-2028) ($MN)
19 Global Aerospace Artificial Intelligence Market Outlook, By Dynamic Pricing (2020-2028) ($MN)
20 Global Aerospace Artificial Intelligence Market Outlook, By Other Applications (2020-2028) ($MN)
21 North America Aerospace Artificial Intelligence Market Outlook, By Country (2020-2028) ($MN)
22 North America Aerospace Artificial Intelligence Market Outlook, By Offering (2020-2028) ($MN)
23 North America Aerospace Artificial Intelligence Market Outlook, By Hardware (2020-2028) ($MN)
24 North America Aerospace Artificial Intelligence Market Outlook, By Software (2020-2028) ($MN)
25 North America Aerospace Artificial Intelligence Market Outlook, By Services (2020-2028) ($MN)
26 North America Aerospace Artificial Intelligence Market Outlook, By Technology (2020-2028) ($MN)
27 North America Aerospace Artificial Intelligence Market Outlook, By Natural Language Processing (2020-2028) ($MN)
28 North America Aerospace Artificial Intelligence Market Outlook, By Machine Learning (2020-2028) ($MN)
29 North America Aerospace Artificial Intelligence Market Outlook, By Context Awareness Computing (2020-2028) ($MN)
30 North America Aerospace Artificial Intelligence Market Outlook, By Computer Vision (2020-2028) ($MN)
31 North America Aerospace Artificial Intelligence Market Outlook, By Application (2020-2028) ($MN)
32 North America Aerospace Artificial Intelligence Market Outlook, By Smart Maintenance (2020-2028) ($MN)
33 North America Aerospace Artificial Intelligence Market Outlook, By Customer Service (2020-2028) ($MN)
34 North America Aerospace Artificial Intelligence Market Outlook, By Training (2020-2028) ($MN)
35 North America Aerospace Artificial Intelligence Market Outlook, By Manufacturing (2020-2028) ($MN)
36 North America Aerospace Artificial Intelligence Market Outlook, By Flight Operations (2020-2028) ($MN)
37 North America Aerospace Artificial Intelligence Market Outlook, By Virtual Assistants (2020-2028) ($MN)
38 North America Aerospace Artificial Intelligence Market Outlook, By Surveillance (2020-2028) ($MN)
39 North America Aerospace Artificial Intelligence Market Outlook, By Dynamic Pricing (2020-2028) ($MN)
40 North America Aerospace Artificial Intelligence Market Outlook, By Other Applications (2020-2028) ($MN)
41 Europe Aerospace Artificial Intelligence Market Outlook, By Country (2020-2028) ($MN)
42 Europe Aerospace Artificial Intelligence Market Outlook, By Offering (2020-2028) ($MN)
43 Europe Aerospace Artificial Intelligence Market Outlook, By Hardware (2020-2028) ($MN)
44 Europe Aerospace Artificial Intelligence Market Outlook, By Software (2020-2028) ($MN)
45 Europe Aerospace Artificial Intelligence Market Outlook, By Services (2020-2028) ($MN)
46 Europe Aerospace Artificial Intelligence Market Outlook, By Technology (2020-2028) ($MN)
47 Europe Aerospace Artificial Intelligence Market Outlook, By Natural Language Processing (2020-2028) ($MN)
48 Europe Aerospace Artificial Intelligence Market Outlook, By Machine Learning (2020-2028) ($MN)
49 Europe Aerospace Artificial Intelligence Market Outlook, By Context Awareness Computing (2020-2028) ($MN)
50 Europe Aerospace Artificial Intelligence Market Outlook, By Computer Vision (2020-2028) ($MN)
51 Europe Aerospace Artificial Intelligence Market Outlook, By Application (2020-2028) ($MN)
52 Europe Aerospace Artificial Intelligence Market Outlook, By Smart Maintenance (2020-2028) ($MN)
53 Europe Aerospace Artificial Intelligence Market Outlook, By Customer Service (2020-2028) ($MN)
54 Europe Aerospace Artificial Intelligence Market Outlook, By Training (2020-2028) ($MN)
55 Europe Aerospace Artificial Intelligence Market Outlook, By Manufacturing (2020-2028) ($MN)
56 Europe Aerospace Artificial Intelligence Market Outlook, By Flight Operations (2020-2028) ($MN)
57 Europe Aerospace Artificial Intelligence Market Outlook, By Virtual Assistants (2020-2028) ($MN)
58 Europe Aerospace Artificial Intelligence Market Outlook, By Surveillance (2020-2028) ($MN)
59 Europe Aerospace Artificial Intelligence Market Outlook, By Dynamic Pricing (2020-2028) ($MN)
60 Europe Aerospace Artificial Intelligence Market Outlook, By Other Applications (2020-2028) ($MN)
61 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Country (2020-2028) ($MN)
62 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Offering (2020-2028) ($MN)
63 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Hardware (2020-2028) ($MN)
64 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Software (2020-2028) ($MN)
65 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Services (2020-2028) ($MN)
66 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Technology (2020-2028) ($MN)
67 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Natural Language Processing (2020-2028) ($MN)
68 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Machine Learning (2020-2028) ($MN)
69 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Context Awareness Computing (2020-2028) ($MN)
70 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Computer Vision (2020-2028) ($MN)
71 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Application (2020-2028) ($MN)
72 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Smart Maintenance (2020-2028) ($MN)
73 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Customer Service (2020-2028) ($MN)
74 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Training (2020-2028) ($MN)
75 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Manufacturing (2020-2028) ($MN)
76 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Flight Operations (2020-2028) ($MN)
77 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Virtual Assistants (2020-2028) ($MN)
78 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Surveillance (2020-2028) ($MN)
79 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Dynamic Pricing (2020-2028) ($MN)
80 Asia Pacific Aerospace Artificial Intelligence Market Outlook, By Other Applications (2020-2028) ($MN)
81 South America Aerospace Artificial Intelligence Market Outlook, By Country (2020-2028) ($MN)
82 South America Aerospace Artificial Intelligence Market Outlook, By Offering (2020-2028) ($MN)
83 South America Aerospace Artificial Intelligence Market Outlook, By Hardware (2020-2028) ($MN)
84 South America Aerospace Artificial Intelligence Market Outlook, By Software (2020-2028) ($MN)
85 South America Aerospace Artificial Intelligence Market Outlook, By Services (2020-2028) ($MN)
86 South America Aerospace Artificial Intelligence Market Outlook, By Technology (2020-2028) ($MN)
87 South America Aerospace Artificial Intelligence Market Outlook, By Natural Language Processing (2020-2028) ($MN)
88 South America Aerospace Artificial Intelligence Market Outlook, By Machine Learning (2020-2028) ($MN)
89 South America Aerospace Artificial Intelligence Market Outlook, By Context Awareness Computing (2020-2028) ($MN)
90 South America Aerospace Artificial Intelligence Market Outlook, By Computer Vision (2020-2028) ($MN)
91 South America Aerospace Artificial Intelligence Market Outlook, By Application (2020-2028) ($MN)
92 South America Aerospace Artificial Intelligence Market Outlook, By Smart Maintenance (2020-2028) ($MN)
93 South America Aerospace Artificial Intelligence Market Outlook, By Customer Service (2020-2028) ($MN)
94 South America Aerospace Artificial Intelligence Market Outlook, By Training (2020-2028) ($MN)
95 South America Aerospace Artificial Intelligence Market Outlook, By Manufacturing (2020-2028) ($MN)
96 South America Aerospace Artificial Intelligence Market Outlook, By Flight Operations (2020-2028) ($MN)
97 South America Aerospace Artificial Intelligence Market Outlook, By Virtual Assistants (2020-2028) ($MN)
98 South America Aerospace Artificial Intelligence Market Outlook, By Surveillance (2020-2028) ($MN)
99 South America Aerospace Artificial Intelligence Market Outlook, By Dynamic Pricing (2020-2028) ($MN)
100 South America Aerospace Artificial Intelligence Market Outlook, By Other Applications (2020-2028) ($MN)
101 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Country (2020-2028) ($MN)
102 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Offering (2020-2028) ($MN)
103 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Hardware (2020-2028) ($MN)
104 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Software (2020-2028) ($MN)
105 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Services (2020-2028) ($MN)
106 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Technology (2020-2028) ($MN)
107 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Natural Language Processing (2020-2028) ($MN)
108 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Machine Learning (2020-2028) ($MN)
109 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Context Awareness Computing (2020-2028) ($MN)
110 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Computer Vision (2020-2028) ($MN)
111 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Application (2020-2028) ($MN)
112 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Smart Maintenance (2020-2028) ($MN)
113 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Customer Service (2020-2028) ($MN)
114 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Training (2020-2028) ($MN)
115 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Manufacturing (2020-2028) ($MN)
116 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Flight Operations (2020-2028) ($MN)
117 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Virtual Assistants (2020-2028) ($MN)
118 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Surveillance (2020-2028) ($MN)
119 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Dynamic Pricing (2020-2028) ($MN)
120 Middle East & Africa Aerospace Artificial Intelligence Market Outlook, By Other Applications (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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