The global aviation analytics market size was evaluated at $4 billion in 2022 and is slated to hit $8 billion by the end of 2030 with a CAGR of nearly 9.8% between 2023 and 2030.
Most organizations have adopted aviation analytics because these solutions help them improve their operational performance, maintenance, and profitability.
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🔰 Aviation Analytics Market: Overview
In order to meet future demands, such as customer requirements, organizations are employing aviation analytics, which improves analytical resolution and maximizes operating revenue. Fuel management, revenue management, customer analytics, and risk management are among the numerous applications for which aviation analytics solutions are utilized in the aviation industry. The solutions of aviation analytics provide businesses with the means to monitor, evaluate, and analyze their business objectives, challenges, and future plans for expansion.
🔰 Major Insights
• According to the projections of our research analyst, the global aviation analytics market will expand at a rate of approximately 9.8% per year over the forecast period (2023-2030).
• In terms of revenue, the global aviation analytics market is projected to reach $8 billion by 2030, up from an estimated $4 billion in 2022.
• Due to a rise in demand for real-time data analytics in the aviation sector, it is anticipated that the global aviation analytics market will expand at a rapid rate over the forecast period.
➤ Demand growth for real-time data analytics in the aviation industry will bolster global market trends
Vendors of aviation analytics are concentrating on augmenting their analytics and intelligence solutions in order to increase their business’s profitability, which may prove to be a significant factor in the growth of the global aviation analytics market. The global expansion of the market will be driven by consumers’ growing interest in using aviation fuel. In addition, a rise in demand for real-time data analytics in the aviation industry will fuel the global expansion of the market. Moreover, effective management of real-time data, such as aircraft maintenance, navigation database, and flight operations, is likely to promote market trends worldwide. Global market growth will be bolstered by the widespread use of artificial intelligence and big data for mechanical analysis and productivity enhancement. In the coming years, strategic alliances, joint ventures, and partnerships are anticipated to play a crucial role in extending the global market’s growth potential. In the first half of 2022, for instance, GE Aviation partnered with BAE Systems to expand its security portfolio. Such actions will stimulate the global expansion of the market.
➤ Reduced availability of analytical skills among the labor force may impede the global industry’s expansion between 2023 and 2030
The lack of available analytical skills is the greatest obstacle encountered by those in the aviation analytics industry. This is expected to impede the global expansion of the aviation analytics industry.
➤ In the next eight years, a rise in air travel will create new growth opportunities on the global market
Increase in aviation industry data output coupled with the difficulty of effectively administering it is likely to create new growth opportunities for the global aviation analytics market. An increase in the number of air travelers worldwide will continue to drive the expansion of the global market.
➤ Global demand growth for big data analysis may impede global industry growth by 2030.
The global expansion of the aviation analytics industry is likely to be hampered by the increasing use of big data analytics and the scarcity of domain-specific expertise.
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The Global Aviation Analytics Market is segmented based on product, application and region
Global Aviation Analytics Market: Product Segment Analysis
● Maintenance
● Repair & Operations
● Sales & Marketing
● Supply Chain
● Finance
Global Aviation Analytics Market: Application Segment Analysis
● Customer Analytics
● Flight Risk Management
● Fuel Management
● Revenue Management
The global aviation analytics market profiles key players such as:
● Oracle Corporation
● Aviation Analytics Ltd
●General Electric
● SAS Institute
● Booz Allen Hamilton
● Ramco International
● IBM Corporation
● SAP SE
● Mu-Sigma
➤ Asia-Pacific is anticipated to continue to dominate the global market throughout the assessment period
Asia-Pacific, which contributed about two-fifths of the global aviation analytics market revenue in 2022, is anticipated to lead the global market profits in the upcoming years. A notable increase in aviation travel in countries such as India and China is largely responsible for the expansion of the regional market. In addition, the region’s thriving civil aviation industry will further bolster regional market trends.
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Due to the extensive presence of key actors in countries such as Canada and the United States, the North American aviation analytics industry is projected to record the highest CAGR in the coming years. Aside from this, the regional industry trends will be determined by the increased implementation of industrial aviation analytics by businesses in the United States to improve operational performance.
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