Global Connected Aircraft Market Forecast to 2024 released By Global Market Insights, Inc. provides market information about industry top key players, countries, type and application. This report also states company profile, sales, market revenue and price, market share, market growth and gross margin by regions, strategic recommendations for the new entrants, market forecasts for a minimum of five years of all the mentioned segments, sub segments and the regional markets.
To capture real-time information, data-centric architectures are integrated into modern aircraft. Aircraft operates as a node to capture gigabytes of data from take-off to landing, which assists in improving the safety and efficiency of the flight, thus augmenting the connected aircraft market demand. Data sharing with other aircraft and ground-based operational teams can aid in the transmission of critical data and boost the safety in times of crises. On-board infotainment services and live telecast of news and sports events for entertainment purposes are projected to be high.
Technological innovations in satellite communication have created new avenues for connected aircraft market. For instance, the increase in bandwidth has led to a surge in internet connectivity speed. Connected aircraft systems enable the transmission of real-time data from ground-based operating systems, which assist in providing critical information regarding management, display, and management of multiple systems operating in the avionics systems of the aircraft in case of an emergency. The shift from seat-centric entertainment systems to portable entertainment devices, which are lightweight and are technologically-friendly acts as a major opportunity for the connected aircraft market.
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Segmentation of the connected aircraft market by components include Aircraft Condition Monitoring System (ACMS), electronic fleet bag, and Aircraft Communication & Reporting System (ACRS). ACRS and ACMS systems are projected to experience a high CAGR as they assist the crew in flight operation monitoring, improving the efficiency and augmenting the overall customer experience. ACMS systems are used in monitoring the health of the devices and equipment on the plane, satisfying regulatory norms, and reducing risks by streamlining continuous improvement of operations. ACRS systems provide a structural approach to the management of risk and boost safety by enhancing communication.
The U.S. is anticipated to dominate the connected aircraft market owing to the growth in the demand from passengers for in-flight internet access owing to technological advancements and high usage of advanced technology. Asia Pacific is anticipated to witness the largest growth rate during the forecast time span owing to rising urbanization and increase in the disposable income, high travel rate of passengers, and rising popularity of personal electronic devices amongst the population.
The players operating in the connected aircraft market include Honeywell International, Inc., Panasonic Corporation, SITA OnAir, Thales SA, Kontron AG, Inmarsat plc, Gogo, Inc., Global Eagle Entertainment, Inc., Cobham plc, IBM, Google, Spafax, Apple, and Microsoft. Vendors have adopted business strategies, such as partnerships, mergers, acquisitions, and new product development to get a large hold on the connected aircraft industry.
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