IoT in Aviation - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global IoT in Aviation Market is accounted for $544.87 million in 2018 and is expected to reach $2790.38 million by 2027 growing at a CAGR of 19.9% during the forecast period. Advancements in wireless network technologies, optimization of business processes and increase in connectivity, and improved passenger experience are likely to boost the growth of the IoT in Aviation market. However, concerns related to data privacy and cybersecurity are likely to hamper the profit boundaries.
Airlines are already using the IoT technology for baggage tracking, cabin climate control, and more. By effectively utilizing IoT, airlines have the tools to greatly reduce or even eliminate the causes of some of the most common complaints in the industry, such as lost bags, flight delays, and customer service issues.
Based on end user, the airport segment is likely to have a huge demand due to the increase in the modern day airport requirements in terms of complexity and scale in comparison to initial days of commercial flying. With growing passenger traffic, airports are finding innovative ways to lower their operational costs and generate new revenue streams. By geography, Rest of the World is going to have a lucrative growth during the forecast period owing to the increasing passenger traffic and aircraft fleet size. This factor encourages the adoption of IoT technology in airports and airlines in these regions to reduce operational costs and streamline business processes.
Some of the key players in the IoT in Aviation market are the Blip Systems, Cisco Systems, Inc, Happiest Minds Technologies, Honeywell International Inc, Huawei Technologies Co., LTD, Aeris, Amadeus It Group Sa, Arrow Electronics, Inc., Sendum Wireless Corporation, SITAONAIR, Tata Sons Private Limited., Tech Mahindra Limited, Undagrid, IBM Corporation, Microsoft Corporation, Palantir Technologies, SAP SE, Walkbase, Wind River Systems Inc, and Zestiot.
• IoT Solutions
• IoT Devices
End Users Covered:
• Maintenance, Repair, and Overhaul (MRO)
• Passenger Experience
• Air Traffic Management
• Ground Operations
• Asset Management
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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